Deskovic was originally convicted of rape and murder in 1990 and served 16 years of a life sentence before DNA evidence exonerated him, LoHud.com reported.
Lawyers on both sides believe it to be the largest settlement in a wrongful conviction trial, but Putnam County will only be responsible for $10 million of the $40 million, due to a pre-trial settlement, LoHud.com said.
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