Mar 08, 2024 - 18:23
By cnbc.com

Trump posts $91.6 million bond as he appeals E. Jean Carroll defamation verdict

Former President Donald Trump appealed the civil defamation verdict awarded to writer E. Jean Carroll.
Trump filed a $91.6 million bond as he asked a federal judge to pause his monetary judgment from taking effect.
The appeal came just days before Trump faced a deadline to pay the $83.3 million penalty a jury had ordered him to give Carroll for defaming her.

Former President Donald Trump on Friday appealed a civil defamation verdict in favor of writer E. Jean Carroll, and posted a $91.6 million bond as he asked to avoid having to pay damages he owes her as he pursues that appeal.

The appeal came days before Trump faced a deadline to pay $83.3 million in damages to Carroll for defaming her in 2019, when as president, he first denied her allegation that he had raped her in a Manhattan department store in the mid-1990s.

The $91.6 million bond he posted is meant to secure that damage award in the event his appeal of January's jury verdict fails. Trump will get the money from the bond back if he wins his appeal.

Manhattan federal court Judge Lewis Kaplan on Thursday denied a request by Trump to delay paying Carroll.

The bond was issued by Federal Insurance Company, a subsidiary of Chubb Insurance Company, based in Chesapeake, Virginia, according to a copy of the document Trump signed. It represents 110% of the total damages awarded to Carroll in the case, which reflects the fact that the damage award is increased by 9% annually under New York law.

A court filing about the bond did not reveal how much Trump either paid, or put up as collateral, to obtain it.