New York Attorney General trolls former president as interest starts accruing on monster judgment

New York Attorney General trolls former president as interest starts accruing on monster judgment

A $455m judgment against Donald Trump is increasing by more than $110,000 each day due to interest penalties.

And New York Attorney General Letitia James, who is preprared to seize his assets if necessary, is not going to let Mr Trump forget.

When the final judgment in the sprawling fraud trial against Mr Trump, his adult sons Donald Jr and Eric Trump, and former Trump Organization executives was approved on Friday, the attorney general’s X account posted the exact figure down to the last cent.

Twenty four hours later, her account wrote: “+$114,553.04”.

  • cbarrick@lemmy.worldEnglish
    15·
    9 months ago

    It’s simple interest, not compound interest.

    So it just adds the same amount each day: just under 0.025% of the original fine (i.e. 9% per year, accrued daily).

    At least according to the Legal Eagle video I watched about it.

    Edit: Thanks jmfwnsfw for the correction. I originally said 9% per day which is insane. It’s 9% per year, accrued daily.