this post was submitted on 22 Feb 2024

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794

'A lot of money': Trump owes $87K in interest per day until he pays the fine in his civil fraud case (abcnews.go.com)

submitted 7 months ago by MicroWave@lemmy.world to c/news@lemmy.world

308 comments fedilink hide all child comments

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.

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[–] SayJess@lemmy.blahaj.zone 104 points 7 months ago (3 children)

Thats hilarious. Wake me up when he actually pays the $300 bajillion dollars.

[–] FlyingSquid@lemmy.world 121 points 7 months ago (5 children)

To be fair, Letitia James is now saying she is going to try to seize his assets if he doesn't pay up.

https://www.theguardian.com/us-news/2024/feb/21/letitia-james-trump-assets-seizure-buildings

[–] SayJess@lemmy.blahaj.zone 63 points 7 months ago (6 children)

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

[–] Assman@sh.itjust.works 33 points 7 months ago (3 children)

TFG? the fucking grapefruit? I have no idea what that acronym means.

[–] Mycatiskai@lemmy.ca 35 points 7 months ago (1 children)

Probably Trump Financial Group.

Possibly Tiny Flaccid Gimp

[–] Thorry84@feddit.nl 28 points 7 months ago (1 children)

The Fucking Grifter

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[–] squeakycat@lemmy.ml 21 points 7 months ago (2 children)

Oh my god... Does that mean.... that.....

.... Something might actually HAPPEN?

[–] NoIWontPickaName@kbin.social 19 points 7 months ago (1 children)

Take that hope behind the fucking house and beat it to death, and then shove it way deep down inside where it can never fucking escape again

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[–] wreckedcarzz@lemmy.world 18 points 7 months ago (5 children)

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

(I'm just thinking aloud, hypothetical situation... but lol)

[–] halcyoncmdr@lemmy.world 18 points 7 months ago* (last edited 7 months ago)

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

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[–] aeronmelon@lemmy.world 51 points 7 months ago (7 children)

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.

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[–] BruceTwarzen@kbin.social 19 points 7 months ago (1 children)

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.

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[–] Copythis@lemmy.world 57 points 7 months ago (2 children)

$10k would entirely change my life. That's it, that's all I'd need.

I could pay off my debt, then I'd be able to afford a roof over my head.

[–] Asafum@feddit.nl 54 points 7 months ago (2 children)

Fucking seriously... There is so much money in these asshats hands that he's dealing with daily interest that amounts to 1.5x my YEARLY income...

[–] nxdefiant@startrek.website 40 points 7 months ago* (last edited 7 months ago) (5 children)

the highest salary I've ever seen on a tech job posting was 900K, offered by Netflix for a networking god.

Even that guy would be broke by lunch on day 11.

A person so singularly gifted that one of the highest paying companies on the planet had to offer that just to find them, and this fucking bag of sewer gas has that in his coat he hasn't worn since the 80's. Really makes it easy to justify hating these absolute parasites that contribute nothing and own everything.

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[–] lagomorphlecture@lemm.ee 16 points 7 months ago (3 children)

Sadly a majority of Americans would find 10k quite liberating and it would be a big help.

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[–] dhork@lemmy.world 55 points 7 months ago

That's only 220 pairs of sneakers a day

[–] CeruleanRuin@lemmy.world 55 points 7 months ago

My entire mortgage is his fucking interest payment, but if I stop paying the fractional payments on it -- which this asshole spends in a day on overcooked steaks and too-long ties -- they'd take my house. Start fucking taking his stuff, goddammit.

[–] Pretzilla@lemmy.world 51 points 7 months ago (3 children)

This could really hurt his other legal cases. Lawyers will be less enthused to represent him if he might go bankrupt on them and not pay the bill.

And they will be more likely to demand retainer at onset. One recently demanded $3M retainer before starting.

[–] normanwall@lemmy.world 24 points 7 months ago (7 children)

Unfortunately, there are always more lawyers stupid enough to work for him and assume they'll get paid. I think the quality on average just gradually goes down.

[–] HopeOfTheGunblade@kbin.social 19 points 7 months ago

Which is doing him unfavors. Appealing this is going to be really hard because Habba didn't lodge any objections to any of the evidence, cutting down grounds for appeal.

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[–] GiddyGap@lemm.ee 41 points 7 months ago (4 children)

Does anyone actually believe he's going to pay any of this? I highly doubt it.

[–] mPony@lemmy.world 21 points 7 months ago (5 children)

has that bag of shit Alex Jones paid a fucking dime yet?

[–] dingdongmetacarples@lemmy.world 27 points 7 months ago

Not yet but his creditors voted to liquidate his assets yesterday (?). The gears are slowly grinding.

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[–] kent_eh@lemmy.ca 20 points 7 months ago

If he doesn't, the state has the authority to sell off his assets to recoup the money.

He might not have much cash, but New York real estate isn't cheap.

[–] phoenixz@lemmy.ca 16 points 7 months ago (3 children)

That's fine. He has a lot of properties tha they can -and will- take. He can still appeal, but that might make it even worse, and in the mean time interest is running.

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[–] carl_dungeon@lemmy.world 33 points 7 months ago (1 children)

Can we please get a 90 day cap at which point straight to jail?

[–] gregorum@lemm.ee 40 points 7 months ago (8 children)

This is a civil trial. He won’t go to jail, they’ll just start seizing his assets.

[–] carl_dungeon@lemmy.world 33 points 7 months ago (5 children)

I’ll take that too. Looking forward to seizures. Concerned it’ll just never happen :/

Alex Jones still hasn’t paid shit.

[–] HopeOfTheGunblade@kbin.social 27 points 7 months ago

I'm pretty sure that's still advancing. Last I heard the families who won against him were moving towards seizing his assets.

[–] Coreidan@lemmy.world 15 points 7 months ago

They gonna seize his shit too. Either pay up or lose it all

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[–] NotMyOldRedditName@lemmy.world 20 points 7 months ago* (last edited 7 months ago) (2 children)

Seize building

Search building

Find more classified documents

I bet you could even strategically seize ones you suspected might have compromising things?

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[–] ripcord@lemmy.world 30 points 7 months ago (1 children)

That's only $32M per year, seems like not much of a penalty compared to what he's not paying.

[–] Gradually_Adjusting@lemmy.world 35 points 7 months ago (8 children)

A life-ruining amount of daily interest for a normal person is even a blip for a fake, likely broke billionaire.

[–] RGB3x3@lemmy.world 17 points 7 months ago (4 children)

Until he goes to jail, that interest and that fine isn't going to matter to him. He can just ride it out until he's dead.

They need to give him a maximum of 4 months to pay it off or he goes to prison.

Maybe he'll get Epstiened in there and we can be rid of him for good.

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[–] Dkarma@lemmy.world 27 points 7 months ago (5 children)

I can't imagine 87k per day.

Can I get this in a better metric like number of trump jumps per mooch?

[–] Crikeste@lemm.ee 17 points 7 months ago

That’s more than I make in 3 years. In one day. But anyone thinking he’s going to pay anything should go buy a bridge. This is America, people. The most corrupt place on earth.

Criminals run the country, and criminals protect each other.

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[–] robocall@lemmy.world 21 points 7 months ago (3 children)

Don't worry guys. His supporters will give him money. I hope anyone with trumpy parents is cool with not getting any inheritance.

[–] bizzle@lemmy.world 21 points 7 months ago (1 children)

His fundraising has kind of fallen off, I understand the donations aren't keeping up with all this money going out. It's hysterical honestly, dude is prob going to die a pauper and ruin his entire legacy which honestly he deserves after what he did to this country.

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[–] dangblingus@lemmy.dbzer0.com 18 points 7 months ago

I wonder if this will just be another OJ Simpson situation where he owes money but fucks around paying it and the courts never enforce the ruling.

[–] Jaysyn@kbin.social 17 points 7 months ago

I love that for him.

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