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Al Drago/Bloomberg/Getty Images
Former President Donald Trump speaks in Greensboro, North Carolina on March 2nd.
CNN
—
It’s taking time for Donald Trump to come up with about $500 million to make up for his two recent court losses.
The lack of funding calls into question the image President Trump has long envisioned as a successful businessman with deep pockets and a maverick ability to navigate legal and financial challenges. Riding on that reputation, he took the White House in 2016.
Now, the 2024 Republican presidential candidates We may end up incurring significant debt from banks, donors or other sources. That’s on top of the legal fees he must pay and the criminal trial he faces.
There are two important deadlines within the next three weeks.
Monday, March 11th
Mr. Trump has until Monday to pay $83.3 million to settle a judgment that he defamed author E. Jean Carroll and denied rape charges against her.
The former president asked Judge Lewis Kaplan for permission to withhold any money until 30 days after the judge rules on a motion filed by Trump to reduce damages. Alternatively, President Trump asked that a portion of the judgment ($24.4 million or $40 million) be posted until the end of the same 30-day period.
Mr. Trump’s argument is that the jury award was excessive and should be reduced by Kaplan or a federal appeals court.
President Trump said that if nothing changes, he will have to pay $91.63 million, including the district court’s practice of requiring a bond of 110% of the judgment amount.
Monday, March 25th
This is the deadline for President Trump to post $454 million bail in the New York Attorney General’s civil fraud case.
An appeals court judge rejected President Trump’s emergency request to keep or suspend the deadline. The justices are currently taking up a motion to delay posting Trump’s bail pending his appeal of the verdict. The appeals court is expected to issue a decision by the end of March, around the same deadline.
President Trump offered to post bail at $100 million, but it was rejected by an appeals court judge. His lawyer told the judge that surety (the entity used to actually issue the bond) often sets the bond amount at 120%, which means he has to put up more than $550 million. He said it means there is a need.
After judgment, interest will accrue approximately $115,000 per day until bond is issued.
Meanwhile, March 25 is also the first day of jury selection for Trump’s first criminal trial related to concealing hush money payments to Stormy Daniels. Mr. Trump has maintained his innocence.
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