New York City, NY – Former President Donald Trump’s bond money, which amounts to nearly $100 million, has been accepted by a federal judge as he prepares to appeal his defamation case ruling. Last week, Trump posted a $92 million bond in response to the verdict in his New York defamation case earlier this year. The bond, approved by Judge Lewis A. Kaplan on Tuesday, serves as a guarantee that Trump will pay out if his appeal fails to overturn the verdict.
Trump is appealing the January decision to the 2nd U.S. Circuit Court of Appeals in Manhattan, where he vehemently denies the claim made by writer E. Jean Carroll that he sexually assaulted her in a department store dressing room in 1996. A jury found Trump liable for $83.3 million in damages to Carroll for defaming her through previous statements attacking her credibility.
The bond value exceeds the total damages because the appeal process requires 110% of the judgment value to be posted. The bond money was provided by Federal Insurance Company, based in Chesapeake, Virginia, according to documents signed by Trump. His lawyers argue that his statements about Carroll were made to defend his reputation, protect his family, and defend his presidency.
Last year, a federal jury in New York City ruled that Trump was not liable for rape but was liable for sexual abuse and defamation, ordering him to pay $5 million. Trump’s continuous legal battles highlight the ongoing legal challenges he faces post-presidency.