Trump Owes $8.75K More Every Day He Doesn’t Pay $355M Fine in NY Civil Fraud Case

Former president Donald Trump is in deep trouble financially as his New York civil fraud case judgment rendered him at a loss for millions. In addition to the $355 million in fines as part of the judgment , he owes an additional $87,502 in post-judgment interest every day he chooses not to pay the fine, Raw Story reported.

Judge Engoron on February 16 fined Trump $354 million plus roughly $100 million in pre-judgment interest in the civil fraud case brought by New York Attorney General Letitia James, after finding that Trump and his adult sons had inflated Trump’s net worth to get more favorable loan terms. James celebrated Engoron’s decision by citing $450 million in fines and interest in a post on X . “Trump, Donald Trump, Jr., Eric Trump, and his former executives must pay over $450 million in disgorgement and interest,” she wrote.

The former president has said he will file an appeal and denies any misconduct. In addition to 9% post-judgment interest when the court enters a judgment in the case, Engoron ordered Trump to pay pre-judgment interest on each fraudulent income, with interest accumulating depending on the date of each transaction. Will Thomas, a corporate law expert at the University of Michigan estimates that Trump owes more than $600,000 in interest each week. This interest not only adds to his already enormous legal fees but also certainly influences how the former president would handle his appeal.

“If he ends up losing on appeal, Trump will have to pay both the pre-judgment and the post-judgment interest,” Thomas told ABC News . “It’s a lot of money,” Thomas said.

Under Engoron’s decision, Trump’s adult sons, Eric Trump, and Donald Trump Jr., were also penalized $4 million based on the proceeds they made from the sale of the D.C. hotel. The verdict states that they owe an extra $990 every day and that they have each accumulated $643,183 in interest on that amount.

Judge Engoron imposed a restitution order on Trump, totaling about $354 million, based on three different kinds of unjustified profits. First, the judge ruled that Trump had tricked his banks into offering him a lower rate, and as a result, he must pay $168 million to cover any prospective interest losses. The day New York Attorney General Letitia James launched her inquiry was March 4, 2019, and Engoron ordered Trump to start paying pre-judgment interest for those transactions.

Second, Trump owes $60 million for the proceeds he received from the sale of his golf course in New York. When Trump sold Bally’s course lease on June 26, 2023, interest started to accrue for that transaction. Lastly, Trump owes $126 million for his earnings from the sale of his hotel in Washington, D.C. Interest on that fine started to accrue on May 11, 2022, the day he sold the property.