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.
Yes, and that’s illegal whether anyone was actually hurt or not. Because it could potentially cause a lot of harm to both the banks and the government that would have to step in if the banks can’t cover the potential losses. That then gets passed on to the tax payers. And it’s not like he just did it once and said he was sorry. He did it repeatedly for decades, and shows no indication that he intends to stop doing it in the future unless someone holds him accountable.
We don’t give people speeding tickets because we think they ran over a pedestrian 5 miles back. We do it to try and get them to stop before that happens.