Attorneys for Donald Trump asserted Monday night that the $175 million bond the former president posted to cover the judgement of his New York civil fraud case is financially secure, asking the judge to "set aside" the state attorney general's challenge and award him costs.
In a spate of court filings submitted just hours before the midnight deadline, Trump indicated that the bond Knight Specialty Insurance Company secured is backed by his Charles Schwab account, which contains more than $175 million in cash, CNN reports. Knight Specialty can take over the Schwab account, and any risk it assumes is also fully covered by its parent company, a joint memorandum filed by Trump's attorneys said.
