The Washington Examiner reports that Former President Donald Trump appears ready to transfer $5.5 million in damages to the court in relation to the lawsuit brought against him by E. Jean Carroll.
Carroll, an author and a columnist, has accused Trump of sexual abuse and defamation.
Carroll has alleged that Trump raped her back in the 1990s in the dressing room of a New York department store. And, she further alleges that Trump defamed her, in 2019, in the process of denying the allegations that Carrol made against him.
The trial began in April, and the jury sided with Carroll. As a result, Trump has been ordered to pay $2 million for battery and $3 million for defamation. But, Trump has appealed the verdict to the 2nd U.S. Circuit Court of Appeals.
Trump, despite the fact that he has appealed the verdict, still has to hand over the $5 million - but not to Carroll.
Instead, he has to give the money to the court, which will hold it pending the outcome of the appeal: If Trump loses on appeal, the money will go to Carroll. If he wins on appeal, the money will go to him - with interest.
Finally, if the case gets extended, the court will continue to hold on to the money until a final decision on the matter is reached.
Trump's legal team, on Friday, made an unusual move with regard to the $5.5 million. It asked the court to hold the money as cash rather than as a bond.
Critics, initially, claimed that Trump was forced to do this because he could not obtain a bond. But, Trump's attorney - Joseph Tacopina - revealed the real reason.
Tacopina said that Trump "had the cash" and "didn’t want to waste the money on securing a bond."
Business Insider, citing experts, reports that the move is going to save Trump the price of a bond premium, which is 1%. So, in this case, Trump is saving about $55,000 by giving the court cash rather than a bond.
Next up, the 2nd Circuit will hear Trump's appeal, while the lower court holds on to the $5.5 million. It is unclear whether the date on which this appeal will take place has been set.
In addition to this case, Carroll has brought a second defamation case against Trump, in federal court, in which she is seeking $10 million.
This other case, which has already survived dismissal attempts, is set to begin in January 2024.