On Friday, Donald Trump announced that he has obtained a bond of almost $92 million to cover a defamation judgment he owes to writer E. Jean Carroll. This development marks progress in addressing the significant financial challenges he faces, including over half a billion dollars in civil penalties and damages.
In a recent ruling, a federal jury in New York granted Carroll $83.3 million as compensation for the harm caused to her reputation by Trump's dismissal of her allegations of sexual assault. In the 1990s, a different jury had already determined that Trump was civilly responsible for sexually abusing Carroll.
Trump, the Republican presidential nominee, requested court approval of the bond in filings and indicated intentions to appeal the judgment. If Trump's appeals are unsuccessful, the bond will guarantee payment.
His lawyers had previously asked the federal judge who presided over the case to put the judgment on hold while they challenged the award. Judge Lewis Kaplan has not yet made a decision on the request, but suggested in a recent ruling that Trump's arguments for delaying the judgment were presented too late. The decision was set to take effect on Monday.
"Mr. Trump's current situation is a consequence of his own procrastinating actions," Kaplan wrote on Thursday.
Even though acquiring the bond provides some relief in the Carroll case, Trump is still dealing with significant financial challenges. He faces a $450 million judgment from a civil-fraud case won by New York Attorney General Letitia James.
It was determined by Justice Arthur Engoron that Trump had intentionally inflated the value of his assets to benefit financially. The judge mandated that Trump pay $355 million in penalties, along with interest dating back to when James's office initiated an investigation into the former president and when certain Trump properties were sold. There is a growing interest in the matter, with the total judgment amounting to approximately $454 million.
According to Trump's legal team, in order to cover the entire penalty, the former president may need to sell off some of his properties.
Time is running out for Trump. A state appeals judge has already refused to delay the penalties. Trump's request to delay the judgment is still being reviewed by a larger appeals panel. Currently, Trump must make the full payment or obtain a bond by late March to delay the monetary judgment. Otherwise, there is a possibility that the New York attorney general might try to take control of some of Trump's possessions.
In the $83.3 million defamation case, Carroll’s legal team objected to any postponement in payment by Trump and requested that he obtain a bond to cover the entire defamation judgment. They pointed out the uncertainty surrounding the former president’s finances due to his increasing legal responsibilities.
According to Trump's legal team, he is capable of paying Carroll if he loses the appeal, but they are arguing that he should not be required to pay the judgment at this time. According to sources, the verdict was deemed excessive and is expected to be significantly reduced during the appeals process.
In a recent ruling, a federal jury in New York granted Carroll $83.3 million as compensation for the harm caused to her reputation by Trump's dismissal of her allegations of sexual assault. In the 1990s, a different jury had already determined that Trump was civilly responsible for sexually abusing Carroll.
Trump, the Republican presidential nominee, requested court approval of the bond in filings and indicated intentions to appeal the judgment. If Trump's appeals are unsuccessful, the bond will guarantee payment.
His lawyers had previously asked the federal judge who presided over the case to put the judgment on hold while they challenged the award. Judge Lewis Kaplan has not yet made a decision on the request, but suggested in a recent ruling that Trump's arguments for delaying the judgment were presented too late. The decision was set to take effect on Monday.
"Mr. Trump's current situation is a consequence of his own procrastinating actions," Kaplan wrote on Thursday.
Even though acquiring the bond provides some relief in the Carroll case, Trump is still dealing with significant financial challenges. He faces a $450 million judgment from a civil-fraud case won by New York Attorney General Letitia James.
It was determined by Justice Arthur Engoron that Trump had intentionally inflated the value of his assets to benefit financially. The judge mandated that Trump pay $355 million in penalties, along with interest dating back to when James's office initiated an investigation into the former president and when certain Trump properties were sold. There is a growing interest in the matter, with the total judgment amounting to approximately $454 million.
According to Trump's legal team, in order to cover the entire penalty, the former president may need to sell off some of his properties.
Time is running out for Trump. A state appeals judge has already refused to delay the penalties. Trump's request to delay the judgment is still being reviewed by a larger appeals panel. Currently, Trump must make the full payment or obtain a bond by late March to delay the monetary judgment. Otherwise, there is a possibility that the New York attorney general might try to take control of some of Trump's possessions.
In the $83.3 million defamation case, Carroll’s legal team objected to any postponement in payment by Trump and requested that he obtain a bond to cover the entire defamation judgment. They pointed out the uncertainty surrounding the former president’s finances due to his increasing legal responsibilities.
According to Trump's legal team, he is capable of paying Carroll if he loses the appeal, but they are arguing that he should not be required to pay the judgment at this time. According to sources, the verdict was deemed excessive and is expected to be significantly reduced during the appeals process.
