'All credibility is lost': Outrage as NY AG Letitia James asks court to reject Donald Trump's $175M bond in civil case

NEW YORK CITY, NEW YORK: New York Attorney General Letitia James' office asked Judge Arthur Engoron to reject former President Donald Trump's $175 million bond in the civil fraud case judgment, ABC News reported.

James demanded the GOP presumptive nominee to post a new bond in seven days, arguing Trump failed to prove the surety of Los Angeles-based Knight Specialty Insurance Company, the firm that covered the massive bond, to pay the amount if his appeal failed.

"Defendants and KSIC have failed to justify KSIC as the surety on this extraordinarily large undertaking for a number of reasons," she said in the court filing on Friday, April 19.

The AG previously also questioned the financial strength of KSIC after the former president posted the $175 million bond on April 1.

New York AG raises concerns of bond's surety

James' filing to the court argued the real estate mogul and the company failed to prove the bond's collateral and KSIC is a "small insurer that is not authorized to write business in New York" and had "never before written a surety bond in New York" until Trump.

She added that the firm only has a total policyholder surplus of $138 million, as per its latest annual financial statement. Therefore, the company cannot incur a loss of more than 10 percent of the surplus under New York state law.

"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," the filing read, according to The Hill.

Engoron will hear the argument on the issue on Monday, April 22, which will be conducted simultaneously with the ongoing hush-money trial against Trump in Manhattan.

The judge ruled in February that Trump should pay a $464 million penalty for fraudulently inflating the net worth of his properties to secure better business deals and bank loans. After he failed to secure the huge bond to appeal the ruling, the New York Appellate Court reduced the bond amount to $175 million.

The former president's posting of the bond prevented James from seizing his iconic properties and paused other penalties.

Internet slams NY AG's latest move

Social media users lashed out at James' bid to reject Trump's bond, accusing her of engaging in a "political witchhunt."

One user wrote, "Political partisan hack, not to mention totally corrupt. It is sad what they are trying to do to our country with this obvious election interference."

"Instead of upholding laws she's driving an agenda of vengeance. Never in this country have political powers been used to bend laws like this. I'm a strong believer in karma," another remarked.

A third user added, "Oh look. MORE NY corruption. These people will rot in Hell." Meanwhile, a fourth response read, "This whole thing is beyond insane."

"Kangaroo court. Banana republic. All credibility is lost. I hope they’re proud of themselves," another fumed.

Someone else said, "That corrupt NY Atty General needs to be removed from having anything to do with the justice system," and one called the AG's move a "Political witchunt."

Another outraged user wrote, "If only New York lawmakers cared this much about Crime and squatters in our state."

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