Damages in defamation suit could bankrupt Trump and be 'as high as nine figures': legal experts
Donald Trump will be doing a great deal of juggling on his 2024 calendar. The presidential frontrunner moved closer to winning the GOP nomination with his victories in Iowa and New Hampshire — former South Carolina Gov. Nikki Haley is now the only other Republican candidate left in the race — but he will be juggling campaign events and legal problems, which range from four criminal indictments to a range of civil lawsuits.
In New York City, Trump is on trial in writer E. Jean Carroll's second civil defamation lawsuit against him. A jury awarded the former Elle Magazine columnist $5 million in damages in her previous defamation case, but it remains to be seen how much a jury will give her in the second trial.
According to legal experts interviewed by Newsweek, Carroll's second lawsuit could — depending on what jurors decide — bankrupt Trump.
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Newsweek's Kate Plummer, in an article published on January 25, explains, "Carroll's lawyers are seeking another $10 million in compensatory damages and 'substantially more' after the former president continued to deny the accusations that he assaulted her, claiming he had no idea who she is and that Carroll was not his 'type.' In May, Trump called Carroll's account 'fake'" and labeled her a 'whack job' during a CNN town hall broadcast. In early September, Judge Lewis Kaplan ruled that Trump's comments against Carroll were defamatory."
Gene Rossi, a former U.S. Department of Justice (DOJ) litigator, argues that the second Carroll case's outcome could be financially devastating for Trump.
Rossi told Newsweek, "The damages from this jury trial could be profound. A jury is not going to tolerate repeated defamatory behavior. If a large money judgment is entered to stop him, the Herculean task for Ms. Carroll will be collection. Her efforts to get even a nickel from Mr. Trump could indeed force him into bankruptcy…. If the jury is appalled by the conduct of Mr. Trump and is turned off by the arguable antics of his lawyers, then the judgment could be tens of millions of dollars."
According to Matthew Mangino, a former prosecutor for Lawrence County, Pennsylvania, the damages Trump is ordered to pay could be "as high as nine figures."
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Mangino told Newsweek, "Donald Trump already lost — the compensatory and punitive damages could be enormous. Yet, Trump doesn't seem to care…. I'm sure his assets are neatly tied up; bankruptcy is a mere business decision. Trump has all his marbles in winning back the presidency whatever the cost. His outward contempt for the court and the process is very dangerous."
Plummer notes that although Trump's net worth "has not been publicly disclosed," Forbes has estimated that it is around $2.6 billion.
READ MORE: Team Trump argues that verbal abuse gave E. Jean Carroll free publicity
Find Newsweek's full report at this link.
