MicroWaveFeb 22, 2024

'A lot of money': Trump owes $87K in interest per day until he pays the fine in his civil fraud case

https://lemmy.world/post/12246127

'A lot of money': Trump owes $87K in interest per day until he pays the fine in his civil fraud case - 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.

Show threadMacN'CheezusFeb 22, 2024
Everyone ITT: “unreasonable and excessive punishment is great as long as it happens to someone I hate”
Show threadsome_designer_dudeFeb 22, 2024
What’s unreasonable and excessive about any of this?
Show threadMacN'CheezusFeb 22, 2024

Because it was literally a victimless crime.

  • He overstated is net worth in a loan application to obtain a lower interest rate
  • The bank approved, gave him the money, and he paid it all back, with interest
  • The bank, upon finding out, declined to sue him and even said they’d be happy to work with him again in the future
  • The NYC AG decided to sue anyways because it’s technically not allowed to misrepresent your income on a bank form
  • The judge decides on an excessive amount of fines simply because they hate him and want to ruin his campaign

I don’t care how much you hate Trump, this is just plain dirty, like kicking your opponent in the nuts in a fist fight.

Show threadnova_ad_vitumFeb 22, 2024
  • The NYC AG decided to sue anyways because it’s technically not allowed to misrepresent your income on a bank form

By “technically” you mean legally. In accordance with the law.

The judge decides on an excessive amount of fines simply because they hate him and want to ruin his campaign

Prove it. And then send that proof to Trump, in sure whatever ambulance chaser is representing him now would interested to have that proof .

Show threadMacN'CheezusFeb 22, 2024
It’s also legally not allowed to cross an intersection on a red light in order to get to work faster when you’re running late, but who’s keeping track?
Show threadnova_ad_vitumFeb 22, 2024
So no proof the judges acted out of malice? Just more bullshit your made up? I’ll contain my surprise.
Show threadMacN'Cheezus

I don’t know if the judge did, but the AG likely acted out of malice. Just ask yourself who benefits from this ruling? As far as I can tell, the bank doesn’t even get any of the money, it all goes to the state. And the Democrat party, of which Letitia James is a member, gets to hurt a political rival in the upcoming federal elections at a critical time in their campaign.

Yes, I know that’s not proof, but there’s certainly motive.

Feb 23, 2024 at 3:43amWeb
Show threadcartoon meme dogFeb 23, 2024
So now you’re saying politicians should only be prosecuted by members of their own party. Go to a doctor, tell them your brain fell out, ask for help.
Show threadMacN'CheezusFeb 23, 2024

It’s not just the party affiliation, it’s also the timing.

Perhaps you should take your own advice there.

Show threadnova_ad_vitumFeb 24, 2024
Why didn’t Trump just not break the law? Why is that too much to ask?