1008
submitted 9 months ago by MicroWave@lemmy.world to c/news@lemmy.world

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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[-] SayJess 147 points 9 months ago

Thats hilarious. Wake me up when he actually pays the $300 bajillion dollars.

[-] FlyingSquid@lemmy.world 167 points 9 months ago

To be fair, Letitia James is now saying she is going to try to seize his assets if he doesn't pay up.

https://www.theguardian.com/us-news/2024/feb/21/letitia-james-trump-assets-seizure-buildings

[-] SayJess 74 points 9 months ago

I hope she is able to do so. It’s pretty clear that TFG will not willingly pay any amount of money.

[-] Assman@sh.itjust.works 37 points 9 months ago

TFG? the fucking grapefruit? I have no idea what that acronym means.

[-] Mycatiskai@lemmy.ca 44 points 9 months ago

Probably Trump Financial Group.

Possibly Tiny Flaccid Gimp

[-] Thorry84@feddit.nl 34 points 9 months ago
[-] FuglyDuck@lemmy.world 8 points 9 months ago

I like this acronym.

So

Many

Possibilities.

Also: The Foreign Goon; and, the Freaking Gonzo

[-] SayJess 16 points 9 months ago

I read it in a thread a while back, That Fucking Guy.

[-] myrrh@ttrpg.network 6 points 9 months ago

...the former guy...

[-] Jaysyn@kbin.social 17 points 9 months ago
[-] SayJess 39 points 9 months ago

We also live in a world where having enough money allows one to rewrite the rules as they go.

[-] KingJalopy@lemm.ee 18 points 9 months ago

Yeah it's becoming pretty clear this nerd doesn't have any money

[-] maynarkh@feddit.nl 15 points 9 months ago

Yeah, he has been coasting by on class solidarity and an army of rabid idiots for a while now.

[-] somethingsnappy@lemmy.world 12 points 9 months ago

Nerd? I can't tell if you're 12 or 70. We took back that term and Dump is anything but a nerd.

[-] squeakycat@lemmy.ml 28 points 9 months ago

Oh my god... Does that mean.... that.....

.... Something might actually HAPPEN?

[-] FlyingSquid@lemmy.world 5 points 9 months ago

It would be nice. Who knows? It sure is worth trying and she seems to have been doing pretty well so far.

[-] wreckedcarzz@lemmy.world 21 points 9 months ago

Imagine having been president and contemplating bankruptcy to nullify the case/repayment

(I'm just thinking aloud, hypothetical situation... but lol)

[-] halcyoncmdr@lemmy.world 20 points 9 months ago* (last edited 9 months ago)

While some judgments can be cleared with bankruptcy... Judgements based on fraud are not one of those.

[-] SpaceNoodle@lemmy.world 14 points 9 months ago

I'm not sure that will absolve him of his lawsuit debts.

Would love to see him go bankrupt, though, that golden facade crumbling.

[-] ragepaw@lemmy.ca 4 points 9 months ago

How would it crumble? He's declared bankruptcy so many times, people can't decide if it's 4 or 6.

In spite of that, dumb asses think he's a financial genius.

[-] SpaceNoodle@lemmy.world 4 points 9 months ago

Because despite declaring bankruptcy, he'd still owe the $350MM + interest.

[-] prettybunnys@sh.itjust.works 5 points 9 months ago

Bankrupt morally AND financially.

[-] GratefullyGodless@lemmy.world 10 points 9 months ago

Seizing his gold toilet would be appropriate, since his finances would be in the crapper at that point.

[-] aeronmelon@lemmy.world 59 points 9 months ago

He won't. His estate will be seized and liquidated and it won't even begin to cover the fine, because the value of everything he owns is criminally overinflated.

[-] tsonfeir@lemm.ee 11 points 9 months ago

I guess they will have to take his golden slippers.

[-] FuglyDuck@lemmy.world 5 points 9 months ago

The goal is to sell it off for profit…

Not take on extra debt…

[-] Got_Bent@lemmy.world 11 points 9 months ago* (last edited 9 months ago)

He's about to get a huge paper wealth injection with his truth social thing about to go public. Usually you've got to prove certain arduous financial metrics to do that, but the SEC is all, "lulz, you're fine. Go ahead and offer your worthless stock!"

I'll be curious to see who the biggest "investors" are in that stock. This is set up to be one helluva laundry.

[-] chiliedogg@lemmy.world 8 points 9 months ago

And Truth Social can be openly sold to foreign "investors."Is not like campaign money where they have to launder the money first.

It's the same reason he has NFTs and sneakers. It's all to get that Saudi and Russian money.

[-] uis@lemm.ee 4 points 9 months ago
[-] PhAzE@lemmy.ca 2 points 9 months ago* (last edited 9 months ago)

I wonder if Musk will be a big investor. He buys Twotter and ruins it, while Trump opens a competitor platform. Musk buys stock in that so when it IPOs he rakes in the money, all while Twitter users move over to TS to help it sell at the stock price they want.

It's all make belief, but maybe...

[-] Ooops@kbin.social 5 points 9 months ago

because the value of everything he owns is criminally overinflated

You say that now, but just wait until the cult starts collecting money to pay those overinflated prices for their lord and savior...

[-] BruceTwarzen@kbin.social 26 points 9 months ago

I once typed in the wrong number in my electric bill and got my lights shut off. It was like 10 dollars. Somehow when you're rich enough you can just choose to pay things or not.

[-] uis@lemm.ee 5 points 9 months ago

Wow. That's shit. And if it happened in US, then it is unlikely to be illegal like in the rest of the world.

this post was submitted on 22 Feb 2024
1008 points (100.0% liked)

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