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.
Doesn’t he need to put up the money in order to appeal?
yes. in order to appeal this judgement, Trump would have to put up between 120-125% of the $355M judgement (to cover the judgement + interest) in order to file an appeal. He can do this in cash, or he can secure a bond by leveraging his assets as collateral. It’s unclear whether he has that much liquid cash, and it’s unlikely that anyone would be willing to issue a bond for him, especially since any of his assets he might use are marked for asset forfeiture by the State of New York should his appeal fail, as it most assuredly will.
FTA:
(emphasis added)
What happens if he never pays?
They start seizing property
Yes but when?
No. Even says something to that effect that at the end of this article. This whole thing isn’t surviving appeals anyways. Absolute shrill hyperbole over interest rates on loans, not even whether or not he’d have received the loan, but on interest rates. Value of properties is debatable…I remember when I last filled out a mortgage application and valued my possessions, valued my old bike at 5000. The loan officer erased that and wrote in 20 thou. This judge would have called that fraud, but the value really was debatable, I paid 4500 for the bike in a different province a couple years before, meanwhile people were asking 18-20k for them on the local internet sites.
Sorry, do you really think your bike is analogous to millions of dollars worth of property?
Did you have an army of accountants with which to determine an appropriate value for said bike?
Way to miss the fucking point
Well one of us sure has.
Um you are completely wrong, he does have to post bond or put the money up in order to appeal.
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If you think there is no way to appeal a judgement against you without paying it first, I have a bridge to sell you. Regardless, I didn’t say anything about a bond being required, I said he doesn’t have to pay it to appeal. He doesn’t.