New York, NY – Former President Donald Trump has obtained a $91.6 million bond to cover the defamation lawsuit brought against him by writer E. Jean Carroll, while he appeals the jury’s verdict, according to his lawyer. Attorney Alina Habba submitted documents to a New York judge confirming that Trump secured the bond from the Federal Insurance Co., a subsidiary of insurance giant Chubb. The bond will be sufficient to cover the $83.3 million judgement in the lawsuit, along with any accruing interest.
Habba also filed a notice indicating that Trump, the anticipated 2024 Republican presidential nominee, is appealing the verdict. The bond is crucial in delaying payment until the 2nd U.S. Circuit Court of Appeals can rule on Trump’s legal challenge. The filings come after Judge Lewis A. Kaplan declined to postpone the Monday deadline for posting the bond, ensuring that E. Jean Carroll, 80, can collect the judgement if it remains intact following the appeals process.
Apart from Carroll’s case, Trump is facing financial pressure to set aside funds for another lawsuit where he was found liable for lying about his wealth in financial statements given to banks. A New York judge recently denied Trump’s request to halt the collection of a $454 million civil fraud penalty while he appeals. Trump now has until March 25 to either pay the penalty or secure a bond. In the meantime, interest on the judgement continues to accumulate at a rate of roughly $112,000 per day. Trump’s lawyers have expressed concerns that he may need to sell properties to cover the penalty.
Last year, a civil jury in New York determined that Trump had sexually assaulted Carroll in 1996 in the dressing room of a luxury department store in Manhattan. Trump has vehemently denied the allegations, stating that he did not know Carroll at the time and that the encounter never occurred. The jury awarded Carroll $5 million in compensation for the alleged assault and the damage caused to her reputation when Trump publicly dismissed her claims as an attempt to boost book sales.
In January, a second trial was held to determine the amount of additional damages Trump would owe Carroll for derogatory comments he made about her in 2019 while serving as president. Judge Kaplan instructed the jury to accept the earlier jury’s findings regarding the sexual abuse. Throughout the proceedings, Trump did not attend the May trial, but testified briefly and sat with his defense lawyers during the January trial. The judge threatened to remove him from the courtroom for muttering disparaging comments about the case, potentially audible to jurors.
The bond secured by Trump is a significant development in his legal battle with E. Jean Carroll. As the former president appeals the jury’s verdict, the bond will ensure that Carroll can collect the judgement if the appeals process upholds the decision. Trump must also contend with the financial strain of other lawsuits, including the $454 million civil fraud judgement. The outcomes of these cases will have significant implications for Trump’s financial stability.