Trump Posts $91.6 Million Bond in E. Jean Carroll Defamation Case
Donald Trump posted a nearly $92 million bond on Friday over a defamation case he lost to E. Jean Carroll, allowing him to appeal the verdict without paying her.
Trump had aimed to delay posting bond or reduce the amount he owed as he’s fought the verdict and called for a new trial.
With a judge recently rejecting Trump’s latest attempt to delay his Monday deadline to pay up, however, the former president posted the full amount of $91.63 million—110 percent of the damages, which is standard practice.
The source of the bond is the Federal Insurance Company, a corporation authorized to transact business in New York that’s a subsidiary of the Chubb Insurance Company. Posting it allowed Trump to appeal the verdict, which his lawyers did Friday.
“Due to the numerous prejudicial errors made at the lower level, we are highly confident that the Second Circuit will overturn this egregious judgment,” Trump attorney Alina Habba said in a statement.
Trump Ordered to Pay Hundreds of Thousands More for Failed Lawsuit
A copy of the motion showed Trump signed the bond agreement on Tuesday, and the attorney for the insurance company signed it Wednesday—the same day Trump’s lawyers asked a judge to stay the judgment for three days.
A day later, U.S. District Judge Lewis Kaplan rejected that request, grilling Trump and his attorneys for trying to rush him into a ruling.
“Mr. Trump’s current situation is a result of his own dilatory actions,” wrote Kaplan. “He has had since January 26 to organize his finances with the knowledge that he might need to bond this judgment, yet he waited until 25 days after the jury verdict.”
Trump’s bond payout isn’t the only financial trouble he finds himself in. He also owes a whopping $464 million in a separate civil fraud judgment, as well as $382,000 for his failed lawsuit over the so-called Steele dossier in the U.K.
Get the Daily Beast's biggest scoops and scandals delivered right to your inbox. Sign up now.
Stay informed and gain unlimited access to the Daily Beast's unmatched reporting. Subscribe now.
