Former President Donald Trump has secured a $91.6 million bond to cover the money he owes writer E. Jean Carroll in a defamation lawsuit while he awaits the outcome of his appeal, according to his lawyer. Attorney Alina Habba filed papers with a New York judge, revealing that Trump obtained the bond from the Federal Insurance Co., a unit of the insurance giant Chubb. The bond will cover the $83.3 million judgment in the lawsuit, plus interest. This move comes after Judge Lewis A. Kaplan declined to postpone the deadline for posting a bond to ensure that Carroll can collect the judgment if it is upheld after appeals.
Trump is facing financial pressure to set aside money for both the Carroll case and another lawsuit in which he was found liable for lying about his wealth in financial statements given to banks. In the second case, a New York judge denied Trump’s request to stop the collection of a $454 million civil fraud penalty while he appeals. The former president has until March 25 to pay or secure a bond for the full amount, with interest accruing daily until then.
In the Carroll case, a civil jury in New York determined last May that Trump sexually assaulted Carroll in 1996. Trump denies the allegations and claims not to have known Carroll at the time. The jury awarded Carroll $5 million in compensatory damages for the alleged assault and damage to her reputation. In a second trial held in January, the jury ordered Trump to pay an additional $65 million in punitive damages for derogatory comments he made about Carroll.
Carroll’s attorney, Roberta Kaplan, argued that Trump’s wealth and power allow him to defame people at will and ignore previous court verdicts against him. Kaplan urged the jury to impose a significant punitive award to deter Trump from making further defamatory statements. The judge in the case, Kaplan, instructed the jury to accept the earlier jury’s findings that the sexual abuse occurred.
Throughout the trials, Trump did not attend the May trial but testified briefly at the January trial. He has been regularly present alongside his defense lawyers, although the judge threatened to remove him from the courtroom for making disparaging comments about the case that jurors may have overheard.
Carroll testified that Trump’s public statements about her have resulted in death threats and damage to her reputation. She described the impact on her life, including installing an electronic fence around her home and purchasing bullets for protection.
Aside from the Carroll case, Trump also faces numerous other legal challenges. These include a criminal case in New York where charges were filed over alleged tax and bank fraud, as well as investigations into possible election interference and a hush money scheme related to allegations of extramarital affairs. Trump has pleaded not guilty in the criminal cases and denies any wrongdoing.
The outcome of these legal battles will have significant implications for Trump’s personal finances and public image. While he continues to appeal the judgments against him, the mounting legal costs and potential financial penalties could have a lasting impact on his wealth and reputation. Whether or not Trump can continue to avoid financial responsibility and legal consequences remains to be seen.