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Donald Trump is being mocked online over his legal argument that he is too rich to pay a large financial bond to appeal a defamation ruling against him.
Trump argued he should not have to lodge $91 million to appeal the defamation ruling against E. Jean Carroll because he is too wealthy for the bond to be a deterrent for him.
The bill stems from January when the former president was ordered to pay $83.3 million for defaming Carroll, on top of a $5 million sexual assault and defamation verdict last year in a case brought by the former Elle columnist.
On Reddit, one user said: "I'm gonna try this at the end of the month when my landlord swings by. Might even put on a suit."
Others said: "not sure that's how it works" and "If too rich to get bond then just put up the cash without bond lol."
But others disagreed and said Trump's lawyers were right to make the argument.
"It's not as crazy as it sounds," one person said.
Another added: "The argument was that he is sufficiently wealthy that a bond is unnecessary to protect the claimant."
Carroll has "effectively conceded that she is adequately secured" because she told the jury during the civil trial that Trump's wealth "greatly exceeds the amount of the judgment," Trump's legal team said in a recent filing requesting an unsecured stay.
The 45th president would not have to pay any money when a stay is in place.
"Having argued to the jury that President Trump has great financial resources, Plaintiff is in no position to contradict herself now and contend that she requires the protection of a bond during the brief period while post-trial motions are pending," the motion said.
In New York, Trump has until March 9 to pay the bond which amounts to 110 percent of the judgment. This means Trump would have to put up more than $91 million to appeal against the defamation penalty.
The legal team behind the former president said Trump could post an "appropriate" bond of $24.475 million because "there is a strong probability that the disposition of post-trial motions will substantially reduce, if not eliminate, the amount of the judgment."
Essentially, the lawyers were arguing Trump should be allowed to post a lower bond based on a future judgment on the appeal.
The request was rejected by Judge Lewis Kaplan without Carroll first having "a meaningful opportunity to be heard." Carroll's lawyers have until February 29 to file a response and then Trump has until March 2 to reply.
Newsweek has approached Trump lawyer Alina Habba via email for comment. Carroll lawyer Roberta Kaplan declined to comment.
Trump owes further payments in New York after a civil fraud trial judgment imposed by Judge Arthur Engoron.
He hit Trump with a pre-interest fine of just under $355 million, which has since been back-dated to include past interest, meaning the full judgment was over $454 million.
This is rising every day because of interest.
Trump was also banned from taking out bank loans in New York and serving as a company director for three years after he was found liable for business fraud.
A suit brought by New York Attorney General Letitia James alleged that Trump, his two adult sons Donald Jr. and Eric, plus The Trump Organization and two firm executives, Allen Weisselberg and Jeff McConney, fraudulently overstated the value of assets to deceive lenders.
Trump and his co-defendants have denied any wrongdoing and attorneys filed a notice of appeal on February 26, but the notice did not mention how Trump would post the roughly $400 million bond to stop collections.
His lawyer Alina Habba said to Fox News said the "full amount" of the bond will be posted.
Trump has said the suit and judgment was politically motivated.
About the writer
Benjamin Lynch is a Newsweek reporter based in London, U.K. His focus is U.S. politics and national affairs and he ... Read more