'Trump is beholden to someone': Here's who's behind company footing E. Jean Carroll bond
March 08, 2024
Many people are now asking about Evan G. Greenberg, the CEO of the Chubb Group, which has a subsidiary that fronted the cash given to Donald Trump for his bond in New York for the E. Jean Carroll settlement.
Even if Trump intends to appeal the settlement ruled on by the jury, he must put the cash up as a bond to the court. Greenberg is the one who made it happen.
As legal analyst Allison Gill pointed out, he is not only a New York businessman, but was also brought on by Trump in 2018 to serve on the Advisory Committee for Trade Policy and Negotiations. His term ended in 2022.
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One internet sleuth, political advisor and researcher pointed to a release from the Rainforest Action Network that linked Chubb to polluters and Russian leader Vladimir Putin.
Greenberg talks a big game about green energy, the report said, but RAN explained that Chubb has the insurance policies "underwriting the risks of digging new coal mines, building tar sands pipelines, and expanding oil and gas drilling in sensitive ecosystems across the world."
Greenberg's pro-green talk "ring[s] hollow when examining his company’s business practices. Chubb insures fossil fuel infrastructure in Russia that is bankrolling Putin’s war on Ukraine, oil and gas extraction off the coast of Brazil, exploratory drilling in the Arctic, and other fossil fuel projects globally," the report continued.
Century Indemnity Company was another Chubb subsidiary behind helping the Boy Scouts of America when they were forced to file for bankruptcy in 2020. The group was being sued and facing allegations from about 1,700 people who said scout leaders sexually abused them.
In an interview, Greenberg said that lawsuits are a key reason why litigation reform must be implemented in the U.S. His beef is with the hefty settlements that corporate America is being forced to hand over when they lose suits.
Century "and other Chubb companies will pay $800 million and obtain a broad release for all Chubb companies from BSA-related abuse claims," the company said in a 2021 release.
MSNBC's Lisa Rubin brought up the CEO's ties to Trump, but also pointed out that anyone could put up the money for Trump's fraud trial and there is a chance the American people would never know who gave him the money.
Rubin said she asked the New York Attorney General's office whether they would know the source of the funding, and their answer was, "We don't know." Host Rachel Maddow has floated that it means people like Vladimir Putin or the Saudi royal fund could put the money up for Trump and voters wouldn't know.
"One of the things I noticed when I was going through the bond today is that it actually only covers the appeal to the Second Circuit," said Rubin, speaking to MSNBC's Katy Tur. "It doesn't cover any appeal that he would take from the Second Circuit if it affirms the jury's verdict of $83.3 million. If he appeals further to the Supreme Court, he's going to need somebody else to come in and provide that security if he takes that appeal further. Otherwise, he will owe her that money within a certain number of days."
When speaking later to MSNBC's Nicolle Wallace, Rubin explained that Trump likely had to give anywhere between 1 to 10 percent in cash and pledge collateral to Greenberg's companies.
"They would want what we call unencumbered collateral where nobody else has a mortgage," Rubin said. "As you know, and everybody knows, Trump is mortgaged to the hilt and owes tens if not hundreds of millions of dollars outstanding on loans. I think what's interesting about this is how he obtained the bond and who he obtained it from because he is simultaneously telling an appeals court in New York State that he shouldn't have to post any bond and the New York Attorney General civil fraud case because he's just -- can't afford it. He's not liquid enough."
She noted that there might be a different story if there's a huge insurer willing to link themselves to Trump and sign off on the bond. It essentially says, "I will owe E. Jean Carroll, the money she is due if the Second Circuit Court of Appeals upholds the verdict and Trump doesn't make good on it, we're good for it."
Former prosecutor Joyce Vance, who now teaches at University of Alabama School of law, posted on social media, "This is an important point. Trump is beholden to someone and 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."
Retired Superior Court Mediator Howard Prince questioned if is "Quid Pro Quo."
See Rubin's clip with Wallace in the video below or at the link here.
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