'A lot of money': Trump owes $87K in interest per day until he pays the fine in his civil fraud case
'A lot of money': Trump owes $87K in interest per day until he pays the fine in his civil fraud case
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.
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That’s a lot of shoes.
Reading up on them, apparently they made 1000, 10 signed by el cheeto himself, and they were priced at $400. So even assuming he makes 100% of that as profit (which he might if the manufacturer didn't insist he pay up front for them), that's still less than a business week worth of interest. Though the price of those 10 signed could add another day or two, depending on how ridiculous he went with the price.