Former President Donald Trump’s lawyers and New York state prosecutors have settled their differences over his bail in the state’s civil fraud case against him and his business.
The agreement was concluded during a hearing Monday morning, where Judge Arthur Engoron was scheduled to hear arguments on whether President Trump’s $175 million bail should be revoked. Mr. Trump’s lawyers and the surety company that issued the bond, Knight Specialty Insurance Company, agreed to keep $175 million in a cash account.
The surety company will have exclusive control of the account and will work with Trump to submit monthly accounts reflecting the $175 million in cash.
On April 1, Trump posted bail at $175 million in a civil fraud case to avoid possible seizure of his assets as he appeals a staggering $464 million verdict against him. accumulated. Days later, the New York State Attorney General’s Office questioned whether Knight Specialty Insurance Company was eligible to post bond.
The New York attorney general’s office then asked Engoron on Friday to void the bond, saying Trump and his co-defendants failed to prove that the surety company actually backed the bond.
A hearing on the matter began at 10 a.m. Monday but was adjourned after the parties reached an agreement. Trump’s lawyer, Christopher Kise, occasionally expressed frustration during hearings regarding the office of New York Attorney General Letitia James (D), according to the Associated Press.
“It seems like no matter what we do, they’re going to condemn it,” Kise said.
According to the Associated Press, New York attorney Andrew Ammar proposed a settlement agreement after speaking during the hearing, emphasizing that the state wants to guarantee the bond.
The hearing began while opening statements in Trump’s separate hush money trial in Manhattan were underway. The courtroom in the hush money trial adjourned Monday afternoon after opening statements were completed and prosecutors called their first witness to the stand.
President Trump’s lawyer Alina Haba told reporters about the agreement Monday in the hallway outside hush money court.
“We came to an agreement that everything would be the same. Change the terms and that’s it,” she said.
Associated Press contributed.
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