Trump's $175 million bond in New York civil fraud judgment case is settled with cash promise
NEW YORK (AP) — New York state lawyers and an attorney for former President Donald Trump settled their differences Monday over a $175 million 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 Trump and Knight Specialty Insurance Company agreed to keep the $175 million in a cash account that will gain interest but faces no downside risk. The account so far has grown by over $700,000.
The bond stops the state from potentially seizing Trump’s assets to satisfy the more than $454 million that he owes after losing a court case brought by the Democratic attorney general. She had alleged that Trump, along with his company and key executives, defrauded bankers and insurers by lying about his wealth.
Related articles
The Greenbrier Hotel has long enjoyed a reputation as Washington DC elite's favorite vacation spot.B2024-04-23
Your web browser is no longer supported. To improve your experience update it here2024-04-23
HKFP launches permanent digital archive of the History Museum's 'Hong Kong Story'
Subscribe to HKFP's twice-weekly newsletter for a concise round-up of local news and our best covera2024-04-23Australian Foreign Minister raises recognising Palestinian state
Australian Foreign Minister Penny Wong. Photo: RNZ / Samuel Rillstone2024-04-23
China's Xi Jinping delivers unexpected speech at UN hours after US President Joe Biden speaks
Your web browser is no longer supported. To improve your experience update it here2024-04-23
The U.S. military said its forces destroyed eight aerial drones late Wednesday in areas of Yemen con2024-04-23
atest comment