Prosecutors accept modified $175m Trump bond in New York civil fraud case

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.