Trump posts $91.6 MILLION bond in E. Jean Carroll rape defamation through an insurance company with just two days until the deadline and with three weeks until he has to put up $454 million to cover fraud fine
Donald Trump has posted $91.6 million bail in the defamation case against E. Jean Carroll as he appeals the verdict amid a two-day deadline imposed by a federal judge.
The former president has paid out the huge sum of money as he fights the $83.3 million in damages awarded to her by a New York jury last month.
That amount reflects 110 percent of the judgment against him.
The insurance company Chubb underwrote the bond for the former president, CNN reported, meaning Trump did not draw the amount from his own cash reserves.
The insurance company will only secure Trump’s initial appeal of the verdict, and no further subsequent appeals. CNN reported.
The substantial payout she received came as Trump denied raping her in a locker room in the 1990s, saying he wasn’t his type.
Trump came up with the money a day later U.S. District Judge Lewis Kaplan ruled against Trump’s efforts to push back the enforcement deadline and lectured the defendant for his predicament.
Trump lawyer Alina Habba had asked the court for mercy earlier this week.
Donald Trump has posted $91.6 million bond in defamation case against E. Jean Carroll as he appeals the verdict
Kaplan said Trump had only himself to blame.
‘Mr. Trump’s current situation is the result of his own delaying actions,” he wrote on Thursday. ‘He has had time since January 26 to organize his finances knowing that he might need this judgment, yet he waited until 25 days after the jury’s verdict… to submit his earlier request for an unsecured or partially secured stay pending resolution of post-trial motions.β
The bond removes just one of the financial obstacles Trump faces.
The former president also faces a stunning order to pay $464 million in penalties as interest in his New York fraud case, an amount Trump appears unable to raise after his lawyers offered to provide less than a quarter of the amount .
He must come up with the money or post a bond before the March 25 deadline. That gives him just over two weeks to come up with the case. The date coincides with the start of his criminal trial in Manhattan in connection with ‘hush’ payments to porn star Stormy Daniels.
Trump had testified in the fraud case that he had $400 million in cash, although his liquid assets are believed to have been greatly reduced by the posting of bonds in the Carroll case.
Carroll called Trump the ‘least reliable borrower’
‘Mr. Trump’s current situation is the result of his own slow actions,” Judge Lewis Kaplan wrote on Thursday.
Trump has secured bail in the Carroll case after a filing in his New York fraud case shows he doesn’t have the money to pay that staggering fine
Trump lawyer Alina Habba had asked the court for a delay so that Trump could pay the judgment against him
Trump’s lawyers have rejected the fraud case award as they prepare to appeal.
βThe exorbitant and punitive amount of the judgment, coupled with an unlawful and unconstitutional blanket ban on credit transactions, would make it impossible to secure and disburse full bail,β his team wrote in the filing with Judge Arthur Engoron .
A Manhattan jury returned a verdict on Jan. 26 finding Trump liable for defaming the former Elle magazine advice columnist in June 2019 when he denied raping her at a Bergdorf Goodman department store in the 1990s.