New York AG Letitia James wants Trump civil fraud appeal bond voided

New York Attorney General Letitia James has been relentless in her quest to remove former President Donald Trump from the political scene once and for all, and she is not stopping yet.

Though Trump posted the bond required to appeal the civil fraud conviction obtained against him earlier this year, James has requested that the judge void the pledge, due to what she says is insufficient insurance, as Fox News reports.

Following the conclusion of the aforementioned trial, Judge Arthur Engoron determined that in order to appeal the verdict in his case, Trump would be required to post a massive bond in the amount of $454 million.

After Trump was unable to secure an appeal bond in such a staggering amount, he appealed for a reduction in the necessary amount, and it was subsequently lowered to $175 million, as CNBC noted at the time.

Though Trump was able to post the lower amount, James now appears determined to undo the deal, presumably in order to begin enforcing the judgment against the former president and seizing some of his high-dollar assets.

According to James' filing, the attorney general believes that the insurance company that partnered with Trump to facilitate the bond does not have sufficient funds to back up their guarantee.

The bond was posted by Knight Specialty Insurance Company (KSIC) from California, and James contends that the firm does not possess authorization to do business in New York.

She also argues that the company only has a total policyholder surplus of $138 million, which she says inadequate to the task it has undertaken, given that under New York law, smaller insurers are not allowed to expose themselves to bond-like liabilities greater than 10% of said surplus.

“Based on KSIC's policyholder surplus in its most recent annual financial statement of $138,441,671, the limitation of loss on any one risk that KSIC is permitted to write is $13.8 million. The face amount of the bond exceeds this limitation by $161.2 million,” James' team wrote.

James is asking the court to require Trump to post a replacement bond arrangement within seven days of such a decision.

The move to void Trump's posted bond comes as arguments in the former president's hush money case are poised to begin in Manhattan.

On Monday, the judge in the civil fraud case is set to hold a hearing on the concerns raised by James, but it is unknown when a decision will be issued.

Trump remains steadfast in his desire to appeal the verdict at issue, with attorney Alina Habba stating at the time the bond was posted that he “looks forward to vindicating his rights., as NBC News noted.

Whether it is Letitia James, Alvin Bragg, or Jack Smith, liberal prosecutors are doing their level best to take Trump out well in advance of November, but as expected, he's fighting back as hard as he can.