Trump could be forced to pay up to $450 million in two NY civil cases, ‘huge blow’ to ex-prez’s wallet
Donald Trump could be forced to pony up hundreds of millions of dollars — dealing a “huge blow” to his wallet — even if he appeals his New York defamation verdict and a looming one in his civil fraud trial, experts said.
The former president stands to be on the hook for $370 million when a Manhattan judge issues a verdict this month in the fraud case brought by New York Attorney General Letitia James over the Trump Organization’s business dealings.
He was ordered by a Manhattan federal jury last month to pay sexual assault accuser E. Jean Carroll $83 million for defamation.
But even if Trump, 77, fights the verdicts and appeals, he would still have to front a potential $453 million total as an “undertaking,” or security, in the two cases, according to legal experts.
“If we’re to believe Trump’s claims about his wealth, posting an undertaking of this magnitude (plus interest) while the appeal is pending shouldn’t be a problem for him, financially speaking,” New York civil lawyer Melissa Levin told The Post Wednesday.
“However, if we consider the actual numbers and facts we’ve been privy to regarding how much he’s truly worth,” Levin added, “this could be a huge blow to the viability of his business and his personal financial stability.”
Under New York law, Trump — should he fight the verdict as his attorneys have indicated he will — would for instance have to turn over the full amount he owes Carroll for a court to hold in escrow until the appeal was resolved.
He’d also have to pay a hefty interest rate if he eventually lost the appeal.
Both Levin and another Big Apple civil lawyer, Imran Ansari, said Trump could seek a security bond to help him cover the money — but it won’t be cheap.
“Given the sheer amount of the judgment, this would be a sizable bond, backed up by collateral, and would be saddled with significant fees and interest,” Ansari said.
If Trump had trouble coming up with the cash or securing a bond, he could also potentially seek bankruptcy protection.
“However, what complicates that choice, and may make it an unlikely one for Trump at this time, is that filing for bankruptcy opens the books on Trump’s finances, including assets and debts, and he may not want that detailed information out there as he runs for another presidential term in the 2024 election,” Ansari said.
James claimed during the civil fraud trial that for a decade the real estate mogul exaggerated his net worth by billions on yearly financial statements to get better loan and insurance terms.
Manhattan Supreme Court Justice Arthur Engoron is expected to issue a verdict in the non-jury trial by mid-February.
Prior to trial, the judge had already found Trump liable on one of the AG’s main fraud claims and he yanked the business license for the family real estate empire. That portion of Engoron’s decision has been put on hold pending appeal.
In addition to the $83 million Trump was hit with for defaming the “Ask E. Jean” advice columnist in public statements from June 2019, a separate jury last year ordered the 45th president to pay $5 million to Carroll after finding him liable for sexual abuse and defamation for statements he made in October 2022.
Trump has an appeal pending in the first Carroll case.
The embattled former commander-in-chief also faces four criminal cases in separate states — the first of which is scheduled to start in Manhattan on March 25 over alleged “hush money” payments.
Trump has maintained his innocence and claimed the criminal and civil cases against him are politically motivated and “witch hunts.”
