Former President Donald Trump – the presumptive 2024 Republican presidential nomination – has been compelled to post a staggering $91.6 million bond to cover the controversial legal award to writer E. Jean Carroll in her defamation lawsuit against him.
According to Trump’s lawyer Alina Habba, the substantial bond was secured from insurance company Chubb. The $91.6 million amount covers the $83.3 million in compensatory and punitive damages awarded to Carroll, plus interest accrued.
Posting the bond allows Trump to delay paying Carroll while his appeal plays out.
A New York judge had set a Monday deadline for Trump to post the bond, denying his request to postpone this requirement during the appeals process. The judge said the bond is needed to ensure Carroll can collect the full judgment if Trump’s appeal is unsuccessful.
This is just one of the significant financial hurdles Trump faces from legal cases brought against him right as the 2024 election is heading into full swing.
In a separate case where he was found liable by a Democratic judge in New York for inflating asset values, Trump may have to pay a $454 million penalty or secure a bond for the full amount while that case is appealed as well.
Trump has decried the Carroll case as a politically-motivated “defamation nightmare.”
He vehemently denies Carroll’s accusation that he sexually assaulted her in the 1990s, saying he did not know her at the time. The former president did not attend the initial civil trial but did testify during the damages portion in January.
As he mounts another presidential bid, the significant financial burdens from the lawsuits pose potential challenges for Trump’s campaign. But his loyal base of supporters remain convinced the cases are unfair prosecutions by those threatened by his populist “America First” movement.
The Horn editorial team