Former President Donald Trump faces mounting financial pressure as a multimillion-dollar civil fraud judgment against him in New York adds a staggering $111,000 in interest each day he refuses to pay.
The judgment, officially entered on Friday, Feb. 23, 2024, mandates Trump and his co-defendants, including his sons Donald J. Trump Jr. and Eric Trump, along with former Trump Organization CFO Allen Weisselberg, to pay a combined $114,554 in interest on the $364 million judgment handed down by Manhattan Supreme Court Justice Arthur Engoron last week.
Prior to the judgment, the defendants owed $89,729 in interest dating back to the offense date. However, after the entry of judgment, the amount skyrocketed to over $114,000 per day, encompassing both the original liability and the accrued interest.
According to calculations by The Associated Press, Trump, liable for $355 million along with his businesses, faces a daily charge of nearly $112,000, totaling to $111,984. This figure adds to the existing penalties and interest, amounting to over $454 million.
New York Attorney General Letitia James confirmed the entered judgment, underscoring the amount owed, including interest, by Trump and his co-defendants.
The fraud case, spanning years, resulted in several defendants, including numerous Trump-affiliated companies, found liable on multiple counts in September 2023.
A bench trial determining the extent of liability was conducted from October to December 2023. Engoron, earlier this month, imposed a penalty close to the $370 million sought by the state in January.
Despite Trump’s plea to stay the judgment to submit a proposed counter-judgment, Engoron rejected the request on Thursday, further escalating the financial pressure on the former president.
