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.
With Trump owing more than $600,000 in interest every week, the interest not only adds to his mounting legal bills but will likely also guide the former president’s approach to his appeal, according to University of Michigan business law professor Will Thomas.
“If he ends up losing on appeal, Trump will have to pay both the pre-judgment and the post-judgment interest,” University of Michigan business law professor Will Thomas told ABC News.
https://abcnews.go.com/US/lot-money-trump-owes-87k-interest-day-pays/story?id=107375585