Donald Trump s 92M Bond Raises Questions

Donald Trump's $92M E. Jean Carroll Bond Raises Questions
Story by James Bickerton •
03/09/24

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Donald Trump pictured at a Super Tuesday election night watch party at Mar-a-Lago Club in Palm Beach, Florida, on March 5, 2024. On Friday Trump posted a $91.6 million bond as he appeals the second defamation case brought against him by writer E. Jean Carroll.
Donald Trump pictured at a Super Tuesday election night watch party at Mar-a-Lago Club in Palm Beach, Florida, on March 5, 2024. On Friday Trump posted a $91.6 million bond as he appeals the second defamation case brought against him by writer E. Jean Carroll.
© CHANDAN KHANNA/AFP/GETTY
Donald Trump on Friday posted a $91.6 million bond as he appealed the verdict reached by a jury in January, which ordered the former president to pay writer E. Jean Carroll $83.3 million in compensation after he repeatedly defamed her.

In 2023, a separate court concluded that Trump had sexually abused Carroll during the 1990s, then defamed her when she spoke out; the court instructed him to pay $5 million in damages.

The $91.6 million bond consisted of the $83.3 million judgment, along with 9 percent statutory interest added by the State of New York. It was guaranteed by the Federal Insurance Company, a subsidiary of Swiss-headquartered insurance company Chubb Group LLC.

This has sparked speculation on social media about why the Federal Insurance Company decided to guarantee Trump's bond and who within the company made the decision. Chubb President and CEO Evan Greenberg has history with Trump, having served on his Advisory Committee for Trade Policy and Negotiations from 2018 to 2022. The Washington Post reported it is "not clear from court records what collateral Trump presented to obtain the bond from Chubb."

In a statement sent to Newsweek, Chubb Group said: "As a matter of policy, we do not comment on client-specific information. Our surety division provides appeal bonds in the normal course of business. These bonds are an ordinary and important part of the American justice system, protecting the rights of both defendants and plaintiffs. For defendants, appeal bonds ensure the opportunity to exercise the right to appeal an adverse judgment, which might otherwise be lost in the absence of a bond.

"For plaintiffs, appeal bonds ensure that they will receive the damages when an award is confirmed on appeal, eliminating the need to chase a defendant for payment. This guaranty provides peace of mind as a plaintiff awaits finality in the appeals process. The surety receives full collateral from the defendant in exchange for issuing the bond."

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Newsweek contacted representatives of Donald Trump's 2024 presidential campaign by email at 6:45 a.m. ET on Saturday. This article will be updated if they want to comment.

In a post on X, formerly Twitter, former FBI general counsel and author Andrew Weissmann questioned who took the decision to guarantee Trump's bond. He wrote: "$90M down, $400M to go. And the public has no idea who may have actually put up the money or provided a guaranty to support the bond. But one thing's sure: Trump is beholden to someone for a lot of money."


The $400 million reference relates to the $355 million Trump was ordered to pay in February by New York Judge Arthur Engoron, who concluded he committed fraud by deliberately overvaluing a number of his assets. With interest, the full payment is expected to be

around $454 million.

Daniel Miller, a lawyer and self-styled "democracy advocate," shared Weissmann's post on X, adding: "This is a matter of national security. The public has to know this information before voting in November."


Trump has yet to post bond to appeal his civil fraud case but is required to do so later this month. In February, a judge turned down a bid by Trump's legal team to have the likely 2024 Republican presidential candidate pay a $100 million bond instead, sparking speculation he didn't have the liquid assets to pay the full fee.

Joyce Vance, a former U.S. attorney for the Northern District of Alabama turned legal commentator, also shared Miller's post, commenting: "This is an important point. Trump is beholden to someone & we don't know who. Reporters should ask him to explain all of the details. GOP leaders should, but probably won't be, especially concerned."


Trump is also facing four criminal charges over allegations he orchestrated the payment of hush money to a pornographic actress; mishandled classified documents; and broke the law attempting to overturn the 2020 presidential election, both nationwide and in the state of Georgia specifically. He has pled not guilty to all counts and claims the allegations against him are politically motivated.

Update 3/9/24, 10:38 a.m. ET: This article was updated with a quote from Chubb Group.

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From Wikipedia, the free encyclopedia
Evan G. Greenberg
Born 1955 (age 68–69)
Education New York University
College of Insurance
Occupation(s) President and CEO of Chubb Limited
Parent
Maurice R. Greenberg (father)
Relatives Jeffrey W. Greenberg (brother)
Evan G. Greenberg (born 1955) is an American business executive. He is the President and Chief Executive Officer (CEO) of the Zurich-based insurance company Chubb Limited (formerly ACE Limited).[1] He also serves as Chairman Emeritus of the US-ASEAN Business Council.[2]

Early life and education
Greenberg is the son of Corinne Phyllis Zuckerman and Maurice R. Greenberg, the former chairman and CEO of American International Group (AIG).[3] He is also the younger brother of the former CEO of Marsh & McLennan, Jeffrey W. Greenberg.[4] He is Jewish.[5]

Evan Greenberg attended New York University and the College of Insurance (now part of St. John's University, New York) but did not graduate from either.[4]

Career
Greenberg joined AIG in 1975 and worked under his father for 25 years. He held a number of senior management positions, including president and CEO of AIU Holdings, AIG’s foreign insurance organization, as well as CEO of AIG Far East, where he was based in Japan and Korea. Between 1997 and 2000 he served as AIG’s president and chief operating officer.[6] He was considered to be the heir apparent to take over as CEO, but left the company in 2000 and joined ACE in November 2001 as its vice chairman. He became the CEO of ACE in 2004. In the 2008 financial crisis, he was among the CEOs refusing to take part in a tax-payer funded bailout.[7][8][9][10][11][12] In February 2011, it was announced that Greenberg was named as a director of The Coca-Cola Company.[13]

Greenberg also serves on the board of the National Committee on United States-China Relations, as well as the US-China Business Council.[14] He is a member of the Council on Foreign Relations, the Center for the National Interest, as well as the Business Roundtable. Additionally, he is an overseer of the International Rescue Committee.[6]

References
 "ace ltd (ACE:New York)". Businessweek. Retrieved 10 April 2013.[dead link]
 "Board of Directors".
 Starkman, Dean (July 5, 2005). "Hoping to Avoid The Third Out". The Washington Post.
 JOSEPH B. TREASTER (12 March 2004). "A Greenberg, 3rd in Family, to Be Chief of an Insurer". The New York Times. Archived from the original on 9 March 2014. Retrieved 23 February 2022.
 Museum, The Jewish (2018-03-01). "A Night of "High Honor and Responsibility" at the Jewish Museum's 32nd Annual Masked Purim Ball". Medium. Retrieved 2023-04-17.
 "Executive Team: Ace Group". ACE. Retrieved 5 February 2014.
 Lilla Zuill (30 October 2008). "Ace boss chides insurers seeking US bailout cash". The Royal Gazette. Retrieved 31 March 2010.[permanent dead link]
 Gabriel Chen (24 March 2010). "Don't lump insurers with banks". Straits Times. Retrieved 31 March 2010.