Former President Donald Trump must pay writer E. Jean Carroll over $83 million in damages for repeatedly defaming her, a jury found Friday.
The nine-person jury began deliberations in federal court in New York at 1:40 p.m. ET and reached a verdict in just under three hours.
In order to file an appeal, he has to pay immediately. The money doesn’t go to Carroll, it goes into an escrow account until she wins the appeal. But either way, Trump is out $83 million. No pay = no appeal.
If he doesn’t appeal and doesn’t pay, then in 30 days Carroll’s lawyers will have access to his bank accounts and properties. At that point it won’t matter if he writes a check, they can simply take what they are entitled to directly from his bank. If there isn’t enough in his account, they can start an auction for his properties. The only thing Trump could do would be to declare bankruptcy, and this would only slow down the process not stop it.
Trump can get away with not paying his contractors, but he can’t get away with not paying a court judgment. Of note, back when he owed Carroll $5 million, he paid on time.
Depends.
He could get a bond to secure the appeal of he can find a bank who will lend to him. Which might be easier, with what looks like the impending sale of his New York properties
Yes, he could get a bond. But these bonds are generally 100% collateralized, because the bank is unlikely to get their money back. So that just means his property will be under lien during the appeal and auctioned off if he loses.
Generally. Trump has an uncanny ability to secure bank loans though. And, if New York requires him to sell his properties in the fraud case it wouldn’t surprise me if he was able to leverage the impending sale to secure the bond and then pull, well, a trump.
Remember, the rules you and I play by are not in effect here.
Well, he was able to secure loans back before it was revealed that he misrepresented the value of his assets. Now, perhaps it won’t be so easy.
We can hope.
Not after 2020 anymore because:
I am sure Deutsche Bank is not going to give him another Cent and any other bank will go and count stairs, because he is lying about everything, even about how many floors his buildings have. The times it was easy for him are over.
On top of the 83 million he has a huge amount to pay to his lawyers and since he is not accepting the outcome of the trial and he has another 14 or so going on… and taking money out of his election funds is now also harder to do and getting elected is more expensive because Koch is helping his opponent and Koch has a truly endless warchest.
Every financial transaction he does is under a looking glas now, no more face value and trust, he is seen as the financial sector should have seen him in the past: A naked “king” that pretends to wear nice clothes.