In order to support his appeal in a defamation lawsuit filed in New York, former President Donald Trump posted a $92 million bond, which a federal judge accepted. This bond is a guarantee for the payment in the event that Trump’s appeal is unsuccessful in overturning the January finding that found him accountable.
Trump is contesting the ruling at the Manhattan-based 2nd U.S. Circuit Court of Appeals, maintaining his denial of E. Jean Carroll’s accusations that he molested her in a department store dressing room in 1996. A jury earlier determined that Trump owed Carroll $83.3 million in damages—$18.3 million in compensatory damages and $65 million in punitive damages—for defaming Carroll with remarks that undermined her character.
Due to a requirement that 110% of the judgment value be posted throughout the appeal process, the bond amount is greater than the damages awarded. Documents signed by Trump said that the bond was supplied by the Chesapeake, Virginia-based Federal Insurance Company. His legal team contends that he made his remarks regarding Carroll to uphold his family’s honor, his reputation, and his presidency.
This legal move comes after a different federal jury held Trump responsible for sexual assault and slander but not for rape in New York City last year. The jury also ordered Trump to pay $5 million in damages.