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.

The ex-president and presumptive Republican nominee denies the claims and is appealing the judgment.

Judge Arthur Engoron, who in February issued the huge judgment after concluding that Trump and others had deceived banks and insurers by exaggerating his wealth on financial statements, presided over Monday’s hearing and at times was caught in a testy exchange with Trump attorney Christopher Kise.

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