Harvey Weinstein has reached a tentative $25 million ($36 million AUD) settlement agreement with dozens of women who accused the Hollywood producer of sexual assault, The New York Times reported Wednesday.
The deal, which is pending court approval, would be paid by insurance companies representing the Weinstein Company and would not require Weinstein to admit to any wrongdoing, according to the Times.
Earlier on Wednesday, a New York judge raised Weinstein’s bail from $1 million to $5 million due to claims that he had violated his electronic ankle monitor requirements. Weinstein had already been out on $1 million cash bail after pleading not guilty to raping a woman in a hotel room in 2013 and forcing a sex act on a second woman in 2006.
Under a new bail reform statute in New York that is set to go into effect in January, Manhattan Supreme Court Judge James Burke had to include several options when he reset Weinstein’s bail package. Among the options Weinstein’s defence team had were a $5 million cash bail, $50 million security bond secured partially at 10%, or a $2 million insurance company bond. His team chose the last option.
This is a developing story. Check back for updates.