Former President Donald Trump has arranged a $91.6 million bond intended to offset the verdict payment in the E. Jean Carroll defamation lawsuit while he advances with his appeal, addressing doubts regarding his ability to procure the funds amidst financial challenges. The bond has been coordinated via Chubb Ltd.’s Federal Insurance Co., encompassing 110% of the $83.3 million judgment awarded against him earlier this year.
Trump, currently beset by a plethora of legal concerns, is operating under financial strain following two significant trial losses. Shortly following the Carroll verdict, another judge ordered Trump to pay New York state $454 million for grossly inflating his net worth to obtain more favorable loan conditions.
This recent development comes as Trump also requested the court to stay the verdict during his appeal challenge in the Carroll case, a measure fortified by the posted bond. It is usual practice for courts to demand such bonds to ensure the availability of funds to pay the trial victor in case the appeal is unsuccessful.
Trump’s spokesperson, Steven Cheung, characterized the bond posted as countering the “baseless judgment in the Democrat-funded Carroll Witch Hunt,” which is currently being appealed and litigated. On the contrary, Carroll’s attorney, Roberta Kaplan, declined to comment.
E. Jean Carroll, who publicly accused Trump of rape in the 1990s, initiated a defamation lawsuit against him upon being publicly called a liar from the White House in order to sell her book and further a political agenda. After a slew of social media attacks from Trump followers, Carroll maintained that she experienced emotional distress and damage to her reputation.
The bond documentation, signed by Trump and his lawyers, did not disclose how much cash or other assets were posted as collateral. However, in an appeal against the New York civil fraud verdict, Trump’s most recent court filings suggest he has a portfolio of state properties that could be used to pay that verdict if his challenge fails. This includes 40 Wall Street, Trump Tower, Trump National Golf Club Hudson Valley, and Trump Park Avenue.
These verdicts exceed Trump’s stated $400 million in cash, raising inquiries about how he would cover the awards in the meantime. Trump has also filed to halt the civil fraud judgment, informing the appeals court that the verdict might compel him to dispose of properties at a loss. He is currently seeking to post a smaller bond in that particular case.