The $93 million bond posted by former President Trump following a guilty verdict in his New York defamation case has been accepted by Judge Lewis A. Kaplan.
Former President Trump's bond money — which totaled just under $100 million dollars — was accepted by a federal judge ahead of his appeal. Trump posted the $92 million bond last week following a ruling that found him liable in his New York defamation case in January of this year. Judge Lewis A. Kaplan approved the bond on Tuesday, which will now serve as a guarantee that the former president will pay out if his appeal does not overturn the verdict.
Trump is appealing the January decision to the 2nd U.S. Circuit Court of Appeals in Manhattan. He has continued vehemently denying Carroll's claim that he sexually assaulted her in a department store dressing room in 1996. A jury found him liable for $83.3 million in damages to E. Jean Carroll for defaming her through previous statements attacking her credibility — $18.3 million in compensatory damages, and $65 million in punitive damages.
The bond value is higher than the total damages due to a requirement for 110% of the judgment value to be posted during the appeal process. Federal Insurance Company — based in Chesapeake, Virginia — provided the bond money, according to documents signed by the former president. Trump's lawyers said he made statements about Carroll in an effort to 'defend his reputation, protect his family, and defend his Presidency.
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