© Reuters. Donald Trump Bemoans $91.6 Million Bond Over Carroll Defamation Suit: ‘Sometimes, It’s Not Good To Be Rich’
Benzinga – by Bibhu Pattnaik, Benzinga Staff Writer.
At a rally in Georgia on Saturday, former President Donald Trump expressed frustration over the financial repercussions of the defamation lawsuit he lost to E. Jean Carroll.
The embattled Republican candidate’s grievance centered on a January ruling that awarded $83.3 million to Carroll, who says Trump raped her in the 1990s.
The subsequent appeal by Trump’s legal team required posting a substantial $91.6 million bond to halt Carroll’s compensation during the appeals process.
Trump vehemently refuted Carroll’s accusations as “false” and criticized the legal system for penalizing him for denying them.
“Sometimes, it’s not good to be rich. I just posted a $91 million bond on a fake story. Totally made up story. Think of it, 91 million. I could say things about what it would cost normally. Ninety-one million, based on false accusations made about me by a woman that I knew nothing about,” he said. “Didn’t know, never heard of. I know nothing about her. She wrote a book, she said things. And when I denied it, I said, ‘It’s so crazy. It’s false.’ I got sued for defamation. That’s where it starts.”
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The former president also said that Carroll “is not a believable person” and that U.S. District Judge Lewis Kaplan — who oversaw the defamation trial and whom Trump called “a terrible person, a terrible judge” and “highly corrupt” — knows as much.
Trump obtained the $91.6 million bond from insurer Chubb Ltd (NYSE: CB), signing the surety bond with Chubb’s Federal Insurance Co. last week. It delays immediate payment to Carroll but ensures compensation if Trump loses the appeal or doesn’t settle the debt.
According to a report by the Insurance Journal, Chubb said that “these bonds are an ordinary and important part of the American justice system, protecting the rights of both defendants and plaintiffs.”
“For defendants, appeal bonds ensure the opportunity to exercise the right to appeal an adverse judgement, which might otherwise be lost in the absence of a bond,” the company added in a statement shared with the Insurance Journal.
Last year, Trump was found liable for sexually abusing Carroll and was ordered to pay her $5 million in damages.
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