If anyone pays this for him, look forward to new tax fraud charges.
Don’t forget that he’s looking at a $300+ million verdict in the other civil case.
Fun Fact: If he wants to appeal these verdicts, he has to pay the damages or post a bond. Any bond would be secured on his assets which is going to be an interesting process given that he has already been found guilty in NY of inflating the values of his assets to illegally obtain financial benefits.
CNN described the compensatory damages as: “$18.3 million — $11 million to fund a reputational repair campaign and $7.3 million for the emotional harm caused by Trump’s 2019 public statements.”
$7.3 million “compensation” was for the suffering suffered due to Trump’s defamatory statements. $11 million “reputational damage” was the cost of repairing such so, together, these were the compensatory damages.
Separately, the jury found that Trump acted with malice, hence the $65 million punitive award.
With Trump, the appeal isn’t about winning or even having a legitimate basis for appeal; it’s about not paying…yet. The thing here is that it’s starting to get expensive to post the bonds required to be allowed to appeal, so the delay he seeks comes at an ever steeper cost. His E Jean Carroll bond is going to cost around $1 million to buy and require him to deposit around $20 million in cash plus receive liens on assets for the balance.
Extrapolate this to the NY business fraud trial. If that comes in - as is expected - at circa $300 million, the bond is going to cost him around $6 million to buy, and he’ll have to post $30-50 million in cash plus put up assets as collateral for the balance.
He has billions in assets, but they’re mortgaged to the hilt and many may be underwater on much of his portfolio due to the valuation shenanigans of which he has already been found guilty. The bond provider is going to need $200+ million in free-and-clear assets as collateral, none of which can be collateral used anywhere else on a bank loan, mortgage or other appeal bond.
And all of this will be happening under an order that bans him from doing business in NY.
ETA: I’m being generous in assuming that the bonds are going to cost 1% - 2%. The costs of bonds go up based on their size and how leveraged the buyer is. The cost to Trump could be much higher and they may require cash collateral of more than 10%. I once had an oil company client (during the 20-teens price crash) be required to post 100% cash collateral in order to be issued a bond. The state wouldn’t take cash in lieu of a bond from the oil company, so they had to deposit the cash with the bond provider and pay the bond premium. It wasn’t all bad news though; I got commission.
I think once they get out of a Democrat led, Democrat paid for court that isn’t being funded by the Democrat party to attempt to influence the election, everything will be cleared up.
Last time they had Covid to influence the election. This time they are using the courts.
reduced, perhaps… but the multiplier here is ~3.5x comps. That’s reasonable in any federal appellate court that isn’t bound by some other statutory limit on punis.
Because he did not rape this person. He did not do anything. The jury was full of paid off Democrats and the judge is a Democrat following orders to “get Trump” from the crooked Democrat Party.
This case is politically motivated and is frivolous.