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April 4 (UPI) -- Attorneys for former president Donald Trump have resubmitted his $175 million bond for his civil fraud judgment in New York Thursday, following a rejection by the court. Trump's initial bond, posted on Tuesday, was rejected and returned for correction, as reflected by the New York County Supreme Court's website, due to a missing financial statement and other documentation. These missing documents have been added in a new filing.
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The financial statement comes from Knight Specialty Insurance Company, the underwriter for the bond. It is signed by Don Hankey, the billionaire chairman and CEO of Hankey Group, and Amit Shah, president of Knight Specialty Insurance. The statement assures that the company can cover the $175 million bond.
The former president did not disclose a personal financial statement.
The bond averts the immediate risk of Trump's properties and assets being seized by New York Attorney General Letitia James. Trump has been ordered to pay a $464 million judgment by New York Supreme Court Judge Arthur Engoron after being found guilty of business fraud.
The presumptive Republican nominee for president has appealed the judgment, arguing that the penalty is excessive. However, he is required to post bond while the appeal is mulled by the appellate court. He was originally ordered to pay the judgment in full. If he was unable to, James warned that she would take legal action to seize his properties and assets.
The New York Court of Appeals later granted him additional time to come up with the funds for the bond, and lowered the amount he was required to post to $175 million.
The former president posted a $91.6 million bond in another civil case last month. That bond was related to the defamation judgment against him in the case brought forward by writer E. Jean Carroll.
