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.
For anyone confused, LegalEagle did a very good breakdown of the case:
https://www.youtube.com/watch?v=RJbgKP-2cFg&t=1331s
Note the timestamp linked where he mentions the harsh penalty from the Judge, and explains that it is due to Trump’s multiple previous fraud convictions (Trump Charity, Trump University, etc). He keeps. Committing. Fraud.
“It worked out okay this time even if it didn’t the 5 previous times” is not a good defense. Clearly he will not stop committing fraud unless faced with harsher penalties, and the vast majority of the time it is not victimless.
Yeah, okay, I have imaginary lawyer friends too who disagree about the punishment fitting the crime.
https://thefederalist.com/2024/02/23/judge-engorons-inflation-of-trumps-ill-gotten-gains-is-a-financial-crime-in-itself/