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Judge Engoron approved an agreement between Donald Trump’s lawyers and state Attorney General Letitia James.
The deal would enhance the $175 million in guaranteed money he paid.
New York Judge Arthur Engoron on Monday approved a new agreement between Donald Trump’s lawyers and the state’s attorney general, Letitia James, in a civil fraud trial in which Trump inflated the value of his real estate empire in statements. The $454 million judgment was supplemented by a $175 million bail that he posted to appeal the court’s $454 million judgment. to the lender.
Mr. James on Friday asked Engoron to void the bond, arguing that Knight Specialty Insurance Company did not have the authority to issue the bond in New York. The Knight bond was secured by a cash account at Charles Schwab Financial Services, and state attorneys expressed concern that Trump had access to the account.
But during Monday’s hearing, Trump’s attorney Christopher Kise assured Engoron that Trump could not transfer funds from the account without Knight’s approval, and that Schwab would not allow it.
“The money has to be put somewhere,” Kise said.
FOX News also reported.
Fox News: Court rules President Trump is entitled to $175 million in bonds. pic.twitter.com/se9KBxVP9d
— Postmillennial (@TPostMillennial) April 22, 2024
This would prevent Letitia James from seizing Trump’s assets while she fights the verdict.
Why it matters: Approving bail on appeal would prevent New York Attorney General Letitia James from seizing Trump’s assets or freezing his bank accounts while he contests the verdict.
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