(TheConservativeTimes.org) – Former United States President Donald Trump has been ordered to pay a fine of $354 million by Judge Arthur Engoron and Trump will accumulate about $84,000 in interest every single day until he pays his fine amount.
On Friday, Judge Arthur Engoron fined Donald Trump $354 million and about $100 million in prejudgment interest as a result of Donald Trump’s civil fraud case. The case was originally brought by Letitia James, the New York Attorney General. Trump and his sons benefited from lying about the net worth of their real estate dealings, leading to more favorable loans.
The $354 million was brought up by considering the $168 million of interest lost by his banks, the selling of a New York Golf course for $60 million, as well as $126 million of profit from selling his Washington D.C. Hotel. Since the dealings for the hotel occurred back in May 2022, the interest owed starts from that date, as is the case with the other fraud cases.
Trump has been ordered to pay interest essentially on the income that he lied about and received through ill-will. This number was brought up by the judge after considering all of the interest that would be accruing based on the date of the transaction. Trump is getting about $600,000 in interest every single week, which could add to his legal bills and push him to seek an appeal.
Will Thomas, who is a business law professor at the University of Michigan said, “If he ends up losing on appeal, Trump will have to pay both the pre-judgment and the post-judgment interest.”
Trump will have to pay the fine and if he can’t pay it in cash, then they will move on to freezing his assets, according to James, saying, “If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets.”
The co-defendants that benefited from the fraud, like his sons, were also fined $4 million.
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