Trump just scored a huge win in his non-jury civil “fraud” Â trial.
A New York judge on Monday ruled Trump’s $175 million bond judgement from his non-jury civil trial will stand.
Previously, AG Letitia James argued that the court should void Trump’s $175 million bond judgment after raising questions about whether the company that posted the bond could pay the pond if needed.
The court, however, ruled against James’ plea.
In a stipulation, the court did rule that Knight Insurance, the company responsible for Trump’s bond, must provide a monthly financial statement to James showing they have $175 million in cash.
Breaking: 🚨 In a huge blow to Trump Deranged psychopath Letitia James, the judge in the phony fraud case has just ruled that the $175 million bond President Trump posted is valid! pic.twitter.com/apP22DMZRo
— Vince Langman (@LangmanVince) April 22, 2024
Here was Trump’s response to James’ plea:
Trump is fed up with Letitia James:
"I put up $175 million in cash but she said the bonding company isn't good. She doesn't like the bonding company because she doesn't know if their collateral is good. I put up $175 million in cash and she is questioning the bonding company!" pic.twitter.com/KxFFGRoObT
— Citizen Free Press (@CitizenFreePres) April 22, 2024
Here’s what Fox News reported:
Former President Trump’s $175 million bond judgment stemming from his non-jury civil trial will stand, a New York judge ruled Monday after New York Attorney General Letitia James attempted to invalidate it.
Lawyers for James on Monday argued that the court should void Trump’s slashed judgment of $175 million in his non-jury civil fraud trial. James questioned whether the company that posted the massive bond, Knight Specialty Insurance, could actually pay the bond if needed.
The court, though, ruled against James, deciding that the bond will stand.
The court decided the $175 million needs to be in cash — not in mutual funds or securities where the value can fluctuate. The court said Knight Insurance cannot trade or move the money, but said they will retain control of the account.
The court also ruled that Knight Insurance must provide a monthly financial statement to James showing the $175 million in cash and decided that the agreement cannot change without approval from the court.
The hearing Monday lasted for approximately an hour.
JUST IN — Court rules Trump's $175 million bond stands. pic.twitter.com/l4mTDCv0jd
— Citizen Free Press (@CitizenFreePres) April 22, 2024
Per Yahoo:
New York Judge Arthur Engoron approved a new agreement Monday between Donald Trump’s lawyers and state Attorney General Letitia James to reinforce the $175 million bond he posted to appeal a $454 million judgment in a civil fraud trial for inflating the value of his real estate empire in statements to lenders.
James asked Friday for Engoron to void the bond by arguing Knight Specialty Insurance Co. isn’t authorized to write bonds in New York. The collateral for Knight bond is a cash account with Charles Schwab financial services and state lawyers raised concerns that Trump had access to the account.
But at a hearing Monday, Trump lawyer Christopher Kise assured Engoron that Trump couldn’t move money out of the account without Knight’s approval, and Schwab would not allow it.
“We have to put the money somewhere,” Kise said.
Engoron, however, questioned the security of the collateral.
“You keep using the word agreement, what if they break the agreement?” Engoron asked. “It all seems like a house of cards.”
Lawyers for Trump and James huddled to reach an agreement under which Schwab will maintain the account in cash and Knight will get exclusive control of the account. Engoron approved the deal.
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