A Manhattan jury has awarded E. Jean Carroll $83.3 million in a defamation lawsuit against former President Donald Trump, who now faces a deadline to secure a bond in the case. Failure to post the bond would allow Carroll to commence the collection of the awarded sum.
Trump, also facing a significant fine in a separate civil fraud case, has requested that Carroll’s lawyer be prevented from collecting the money. At the same time, he appeals the defamation ruling without having to pay a bond or make a payment in escrow. Trump’s lawyers have alternatively proposed a reduced bond of $24.4 million, arguing that this amount would be sufficient to secure any minimal risk to Carroll.
However, Judge Lewis Kaplan swiftly rejected Trump’s request, stating that the court would not grant any stay without giving Carroll a meaningful opportunity to be heard. Carroll’s attorneys strongly opposed Trump’s request, highlighting their concerns about his financial situation and referring to him as the “least trustworthy of borrowers.” They pointed out that Carroll’s doubts about Trump’s cash position contradicted her statements about his ability to pay the awarded amount.
Last May, a Manhattan jury held Trump responsible for sexually abusing Carroll, awarding her $5 million in damages despite his steadfast denial of the claims. In a separate legal matter, Trump was convicted of defamation towards Carroll, resulting in a damage award of $83.3 million.
Yet, securing the bond for Carroll’s defamation lawsuit marks merely the start of Trump’s legal challenges. In a separate civil fraud lawsuit filed by New York Attorney General Letitia James, Judge Arthur Engoron has mandated Trump to pay $355 million in fines and interest for misrepresenting his assets. This amount has surged beyond $454 million, with daily interest accruing at $112,000, further escalating the financial implications.
Trump has strongly condemned the ruling, attributing the judge’s decision to political bias and maintaining his innocence. He is now confronted with the daunting task of raising the significant funds needed to fulfill the civil fraud case’s judgment. Trump’s legal team sought to lower the payment to merely $100 million, but Judge Anil Singh swiftly denied their appeal. The judge declared that Trump failed to show he possessed enough liquid assets to cover the total amount of the judgment.
Trump has until March 25 to secure a stay on collecting the money owed in the New York civil fraud case.
