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.

      • Jessica@lemmy.blahaj.zoneEnglish
        651·
        9 months ago

        I hope she is able to do so. It’s pretty clear that TFG will not willingly pay any amount of money.

      • wreckedcarzz@lemmy.worldEnglish
        20·
        9 months ago

        Imagine having been president and contemplating bankruptcy to nullify the case/repayment

        (I’m just thinking aloud, hypothetical situation… but lol)

        • halcyoncmdr@lemmy.worldEnglish
          19·
          9 months ago

          While some judgments can be cleared with bankruptcy… Judgements based on fraud are not one of those.

        • SpaceNoodle@lemmy.world
          111·
          9 months ago

          I’m not sure that will absolve him of his lawsuit debts.

          Would love to see him go bankrupt, though, that golden facade crumbling.

          • ragepaw@lemmy.ca
            4·
            9 months ago

            How would it crumble? He’s declared bankruptcy so many times, people can’t decide if it’s 4 or 6.

            In spite of that, dumb asses think he’s a financial genius.

    • aeronmelon@lemmy.world
      54·
      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
          2·
          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…

    • BruceTwarzen@kbin.social
      23·
      9 months ago

      I once typed in the wrong number in my electric bill and got my lights shut off. It was like 10 dollars. Somehow when you’re rich enough you can just choose to pay things or not.

      • uis@lemm.ee
        5·
        9 months ago

        Wow. That’s shit. And if it happened in US, then it is unlikely to be illegal like in the rest of the world.