Donald Trump owes an additional $87,502 in interest every day until he pays the $354 million fine in his civil fraud case, according to ABC News' calculations.

Former President Donald Trump owes an additional $87,502 in post-judgment interest every day until he pays the $354 million fine ordered by Judge Arthur Engoron in his civil fraud case, according to ABC News’ calculations based on the judge’s lengthy ruling in the case.

Judge Engoron on Friday fined Trump $354 million plus approximately $100 million in pre-judgment interest in the civil fraud case brought by New York Attorney General Letitia James, after he found that Trump and his adult sons had inflated Trump’s net worth in order to get more favorable loan terms. The former president has denied all wrongdoing and has said he will appeal.

Engoron ordered Trump to pay pre-judgment interest on each ill-gotten gain – with interest accruing based on the date of each transaction – as well as a 9% post-judgment interest rate once the court enters the judgment in the case.

  • aeronmelon@lemmy.world
    59·
    9 months ago

    He won’t. His estate will be seized and liquidated and it won’t even begin to cover the fine, because the value of everything he owns is criminally overinflated.

    • Got_Bent@lemmy.world
      101·
      9 months ago

      He’s about to get a huge paper wealth injection with his truth social thing about to go public. Usually you’ve got to prove certain arduous financial metrics to do that, but the SEC is all, “lulz, you’re fine. Go ahead and offer your worthless stock!”

      I’ll be curious to see who the biggest “investors” are in that stock. This is set up to be one helluva laundry.

      • chiliedogg@lemmy.world
        81·
        9 months ago

        And Truth Social can be openly sold to foreign "investors."Is not like campaign money where they have to launder the money first.

        It’s the same reason he has NFTs and sneakers. It’s all to get that Saudi and Russian money.

      • PhAzE@lemmy.ca
        21·
        9 months ago

        I wonder if Musk will be a big investor. He buys Twotter and ruins it, while Trump opens a competitor platform. Musk buys stock in that so when it IPOs he rakes in the money, all while Twitter users move over to TS to help it sell at the stock price they want.

        It’s all make belief, but maybe…

    • Ooops@kbin.social
      5·
      9 months ago

      because the value of everything he owns is criminally overinflated

      You say that now, but just wait until the cult starts collecting money to pay those overinflated prices for their lord and savior…