Former President Donald Trump’s legal team has reached an agreement with state prosecutors to secure his $175 million civil fraud bond while he appeals a recent ruling in the case. The deal was made as Trump’s criminal trial, where he faces accusations of illegally paying hush money to Stormy Daniels, commenced in Manhattan Supreme Court. State Attorney General Letitia James expressed concerns about Trump’s control over the funds, prompting the agreement to keep the bond in a secure “lockbox” under the exclusive control of Knight Specialty Insurance Company.
The bond, which will remain in cash form and cannot be converted into other financial instruments, will be closely monitored with monthly statements filed by Knight Specialty. Trump himself defended the bond outside the criminal trial courtroom, stating that he had put up the cash and had sufficient funds to cover it. Don Hankey, the billionaire owner of Knight Specialty Insurance Company and a Trump supporter, had previously defended the bond, expressing surprise at the complications that arose.
Trump’s attorney, Alina Habba, criticized James for questioning the legitimacy of the bond and suggested that the attorney general found the money insufficient. Habba claimed that the agreement was reached after it became apparent that both James and the judge lacked understanding of basic financial principles. Trump has been vocal in his criticism of James, Engoron, and the substantial judgment in the civil case, both in his public statements and on his Truth Social online platform.
2 Responses
This is absolutely disgusting! It’s sickening to see how former President Donald Trump continues to manipulate the legal system to his advantage. It’s clear that he’s trying to evade accountability for his alleged fraudulent activities by using his immense wealth to secure a massive civil fraud bond. This agreement only highlights the corrupt nature of our justice system, where the rich and powerful can buy their way out of facing the consequences of their actions. It’s a slap in the face to all those who have been victims of fraud
While it may seem like a victory for former President Donald Trump that his legal team has secured his $175 million civil fraud bond, it is important to consider the potential implications of this agreement. By allowing Trump to appeal the ruling while keeping the bond, it raises questions about the fairness and integrity of the legal system.
Firstly, this agreement sets a dangerous precedent by allowing wealthy individuals to potentially evade justice by appealing rulings indefinitely. It essentially allows them to buy time and delay the consequences of their actions.