A Manhattan federal court judge on Wednesday ordered the release of the more than $5m Donald Trump owes E Jean Carroll following her successful 2023 sexual abuse and defamation trial against him. Less than an hour after the judge issued his order, Trump filed paperwork indicating he was appealing the decision.
Trump had deposited this $5m jury award, as well as 11% interest, into a court-held account some six weeks after Carroll’s courtroom victory. Judge Lewis Kaplan’s order directs the disbursement of these court controlled funds, which now total some $5.8m due to interest accrual.
Kaplan’s decision comes more than three years after Carroll bested Trump in her bombshell civil case; jurors determined that he sexually abused the former Elle writer and unlawfully impugned her reputation with false, vitriolic denials. Trump denied all wrongdoing.
The order followed the US supreme court’s 29 June decision not to review Trump’s appeal. Trump wanted the supreme court to weigh his appeal after lower courts repeatedly snubbed his fight against this verdict.
As I understand it, the way rich people work their wealth these days is they have it as invested as possible, then take out a loan using investments as collateral. They spend what they need, use the loan to pay off part of the previous loans, then invest the remainder.
That way their funds are never taxed since on government tax math, they’re always in the red.
It is also why Trump is pusbing so hard. Banks don’t like pure real estate as collateral, so he couldn’t pull the trick.