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.
I barely grasp it too but I believe what you stated is half of the issue. The other half is that he claimed to the irs that the same building was worth significantly less in order to pay less taxes. Ergo he lied to both the bank and the government.
Also I’m not actually sure if he finished paying the bank, even if he had a perfect payment record so far if he decided to stop paying and they had to sell the building they wouldn’t necessarily get all of the loan money back because the building isn’t worth what they loaned him based on his false claims, assuming I explained it in a way that makes sense.