Former President Trump Secures $91.6 Million Bond for Defamation Lawsuit Appeal

NEW YORK (AP) — Former President Donald Trump has succeeded in securing a $91.6 million bond to cover the amount he owes writer E. Jean Carroll in a defamation lawsuit while he appeals the jury’s decision, his lawyer announced on Friday.

Attorney Alina Habba filed the necessary papers in a New York court, confirming that Trump obtained the bond from the Federal Insurance Co., a subsidiary of insurance giant Chubb. The bond will fully cover the $83.3 million judgment in the lawsuit, along with any accrued interest.

Alongside the bond filing, Habba also submitted a notice indicating that Trump, the presumed 2024 Republican presidential candidate, plans to challenge the verdict. The posting of the bond is a crucial step in delaying payment until the 2nd U.S. Circuit Court of Appeals can rule on the legal challenge.

These filings came after Judge Lewis A. Kaplan denied a request to postpone the deadline for posting the bond, thereby assuring that the 80-year-old Carroll can collect the judgment if there are no further changes following the appeals process.

Trump now faces financial pressure to set aside funds for both the Carroll case and another lawsuit, in which he was found liable for providing false information about his assets on financial statements given to banks.

Recently, a New York judge declined to suspend the collection of a $454 million civil fraud penalty while Trump pursues an appeal. He has until March 25 to either pay the penalty or secure a bond for the full amount. In the meantime, interest on the judgment continues to accumulate, adding approximately $112,000 per day.

Trump’s legal team has requested a stay on the judgment during the appeal process, cautioning that he may need to sell off some properties to cover the penalty.

Last May, a civil jury in New York found that Trump had sexually assaulted Carroll in 1996 in the dressing room of a high-end department store in Manhattan.

The former president, now 77 years old, adamantly denies the allegations, claiming that he did not know Carroll at the time and that the alleged incident at Bergdorf Goodman never occurred.

The jury awarded Carroll $5 million in damages to compensate for the alleged sexual assault and the harm caused to her reputation when Trump publicly dismissed her claims as a fabrication to boost sales of her memoir.

In January, a second trial was held to determine the additional amount that Trump might owe Carroll for derogatory remarks he made about her in 2019 while serving as president. Judge Kaplan instructed the jury to accept the earlier jury’s determination that the sexual assault did happen.

During the trial, Trump did not attend regularly but did testify briefly. He often sat with his defense lawyers, although the judge threatened to remove him from the courtroom for making derogatory comments about the case that could have been overheard by the jurors.