Article Image

IPFS News Link • Courtroom and Trials

Letitia James Posting Daily Score of Massive Added Interest on Trump Fine:

• By Kristinn Taylor

New York state Attorney General Letitia James (D) is posting a daily score of the added interest in the fine imposed on President Trump by Judge Engoron in the judgment in the civil case accusing Trump of inflating property values. Trump denies the charges. Lenders to Trump have not claimed fraud against him and have testified they were paid back in full and would gladly do business with Trump again.

In addition to barring Trump from doing business in New York for three years, the fine imposed by Engoron on February 16 in the non-jury trial case is about $355,000,000, however interest has pushed the amount to over $454,000,000 according to on entry by the clerk of the court on Friday (excerpt from ABC News):

The clerk for New York County's Supreme Court signed and entered the judgment order Friday in former President Donald Trump's civil fraud case, in which he owes $355 million in fines plus approximately $100 million in interest.

Shortly after, New York Attorney General Letitia James filed a notice of entry in the case, which started the clock on Trump's financial penalties in the case, which come to $454,156,783 in disgorgement and pre-judgment interest.

Trump now has 30 days to appeal the case to New York's Appellate Division, First Department. In order to stay the execution of the fine in the case, the former president needs to post a bond or put cash into an escrow account to cover the fines plus interest, according to James.

…Until he places the full amount of the fine into an escrow account, Trump will owe 9% interest on the full judgment, or over $3 million per month.

A timeline of the case from last year can be read at this link.