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 threadCableMonsterFeb 22, 2024
Because he did nothing wrong. The fact that the left side is celebrating this judgement (and the rape one) tells me they dont care about that justice system, they just want to use it.
Show threadfine_sandy_bottomFeb 22, 2024
If only there were some way to determine whether someone did something they were accused of. Maybe like an independent person to weigh up all the arguments and make a decision. You could have supporters and detractors make their cases.
Show threadCableMonsterFeb 22, 2024
Yeah, thats the part that is dangerous, I am telling you as a real estate person, he did nothing wrong, and there is not victim in the real estate case, but the person that decided he was guilty believes something wrong or is doing it for bad reasons. Do you understand the danger there?
Show threadfine_sandy_bottomFeb 23, 2024

I’m kind of astonished.

I’m telling you as an accounting person, fraudulent misrepresentation of one financial circumstances is an egregious crime.

This whole “victimless crime” thing is incredibly naive.

Show threadCableMonsterFeb 23, 2024
Cool, who was the victim? How were they victimized?
Show threadfine_sandy_bottomFeb 23, 2024

As you well know, there is no victim, as in no single person who was harmed. Yet Trump’s actions are a crime nonetheless. The whole victimless crime angle is a derivative of a straw man fallacy.

As a society we prescribe a minimum acceptable level of behaviour through laws. When people contravene these laws we impose penalties. There is no requirement for someone to be harmed.

That said, I’m sure you can imagine what would happen if fraud was not a crime. It’s just not possible to conduct business of any kind if there is no penalty for fraud.

Show threadCableMonsterFeb 23, 2024
There was no victim because he did nothing wrong. Should a person be able to list their house for more than its true value, have someone agree to the price and then apply for a loan?
Show threadGhysteFeb 23, 2024
Good lord you’re an idiot…
Show threadCableMonsterFeb 23, 2024
Oh gotcha, you dont actually understand what is happening in the case.
Show threadGhyste
You’ve done a pretty good job establishing your ignorance. Don’t hurt yourself with the mental gymnastics.
Feb 23, 2024 at 3:09pmWeb
Show threadCableMonsterFeb 23, 2024
Oh yeah, doing real estate for decades makes me super ignorant about real estate financing… Is that the best insult you got?
Show threadGhysteFeb 23, 2024
I don’t see what more needs to be said. You’re ignoring every fact in the case as hard as you can. Quit embarrassing yourself. Good day.
Show threadCableMonsterFeb 23, 2024
Again, you literally dont know what the case is about. You can keep getting your news from partisan hacks if you want, but then you are always going to just be repeating lies. Literally listen to any non partisan person who knows real estate and they will tell you the same thing. For example take Kevin O Leary and see what he has to say. Or I guess you can just keep your fingers in your ears if you wish.