Judge approves Trump’s $175 million bond despite Letitia James challenges

A judge accepted Donald Trump‘s $175 million bond in his civil fraud case after the former president and Attorney General Letitia James reached an agreement to modify the conditions of the bond during a hearing in New York on Monday.

Judge Arthur Engoron said that so long as Trump gave Knight Specialty Insurance, a small Delaware-based insurer, exclusive access to the bank account that is serving as collateral for the bond, then the judge would approve it, according to a Law360 report.

Engoron’s decision comes after James argued in a motion that Trump did not have “sufficiently secure and ascertainable collateral backing the bond” and that Engoron should therefore reject it.

Trump was required to post the bond while he fights a judgment issued by Engoron in February that he pay $454 million in fines and interest after Engoron
Read more…

Please follow and like us: