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Trump's $175 million bond in New York civil fraud judgment case is settled with cash promise
International Issue news portal2024-04-23 14:54:25【travel】5People have gathered around
IntroductionNEW YORK (AP) — New York state lawyers and an attorney for former President Donald Trump settled the
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.
Address of this article:http://www.olivelawfirm.net/tag/auto-accident-attorney-atlanta-need-a-lawyer/
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