The $175 million bond, posted by an insurance company on behalf of President Trump in his civil fraud case, will be allowed to stand following an agreement reached on Monday. This agreement includes assurances from Trump’s lawyers to comply with the conditions outlined by the Attorney General’s office.
In contesting the bond, James’ office contended that the $175 million in cash Trump claimed to have provided as collateral remained under the control of his revocable trust, rather than being in a Knight account.
Trump Organization lead attorney Chris Kise addressed the court on Monday, speaking for approximately 30 minutes and assuring that the $175 million bond was indeed paid in cash and deposited into an interest-bearing money market account that is safeguarded against value loss. Kise highlighted that the cash account generates approximately $400,000 in interest every two weeks.
The agreement is expected to be finalized by Friday, and certain details entail Schwab, the managers of the money market account, agreeing to the terms.
