Four properties are to be pledged as part of an arrangement to guarantee his appearance at trial.
Former Trump campaign chairman Paul Manafort has reached an $11 million bail agreement with prosecutors that could clear the way for him to be released from the house arrest he’s been under for the past four weeks.
In court filings released Thursday afternoon, Manafort’s defense attorneys revealed “an agreed-upon bail package” with lawyers from special counsel Robert Mueller’s office, which obtained an indictment last month charging Manafort and business partner Rick Gates with money laundering and failing to register as foreign agents.
The deal involves the pledging of four properties: Manafort’s Alexandria, Virginia, condominium where he’s been under home detention, his Palm Beach Gardens, Florida, home, a condo in Manhattan and another property in Bridgehampton, New York.
Manafort’s defense team said the properties are worth more than $11 million, after existing mortgages are deducted.
“The Defendant will execute an agreement to forfeit four (4) separate real properties if there is a bail violation with a total estimated net value (i.e., fair market value less encumbrances) of approximately $11.65 million. The OSC has agreed that the properties posted provide the reasonable assurance required under the Bail Reform Act,” Manafort lawyers Kevin Downing and Tom Zehnle wrote.
The bail package, subject to approval by U.S. District Court Judge Amy Berman Jackson, would end the home detention Manafort was ordered into after his arraignment on Oct. 30.
Both the prosecution and defense also propose ending GPS monitoring of Manafort, something Jackson said she was reluctant to do during a hearing earlier this month.
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Manafort strikes $10 million bail deal with prosecutors https://t.co/vAF2wZVyRY pic.twitter.com/XbPGR3j5Uq
— POLITICO (@politico) November 30, 2017
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