Prosecutors Accept Modified Terms On Trump’s Bond

The Guardian reports:

New York state lawyers and an attorney for Donald Trump settled their differences on Monday over a $175m bond that Trump posted to block a large civil fraud judgment while he pursues appeals. The agreement cut short a potential day-long court hearing in Manhattan that was to feature witnesses.

As part of a deal struck during a 20-minute recess, lawyers for former president Trump and Knight Specialty Insurance Company agreed to keep the $175m in a cash account that will gain interest but faces no downside risk. The account so far has grown by more than $700,000.

The bond stops the state from potentially seizing Trump’s assets to satisfy the more than $454m that he owes after losing a court case brought by the Democratic New York attorney general, Letitia James.

The New York Times reports:

The attorney general’s office raised questions about the bond, noting that Knight, which is owned by a subprime loan billionaire, had never provided such a court bond in its history, and asked Justice Engoron to reject it and require Mr. Trump to secure a new one.

But in a hearing on Monday, prosecutors from the office struck a different tone and offered tweaks to the existing bond terms that they said would satisfy their concerns.

Andrew Amer, one of the attorney general’s lawyers, told Justice Engoron that the state wanted to strengthen the controls around the cash collateral so that it could not be moved or invested in such a way that it could lose value.

Prosecutors accept modified $175m Trump bond in New York civil fraud case https://t.co/GjyMY5vKdm

— Guardian US (@GuardianUS) April 22, 2024