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Just in case the $355 Million in fines for systematic and intention fraud, didn’t get his attention — the “worse businessman ever” also owes the state of New York $98.6 million in interest too.
Interest will add about $100M to Trump's fine
Based on Friday's decision, former President Trump and his co-defendants will likely owe $463.9 million based on their initial fine and the prejudgment interest imposed by the court, according to a representative for the New York attorney general.
Trump himself will likely owe $453.5 million, between his $354.86 million fine and $98.6 million in interest.
The amount of interest owed by the defendants is set to increase every day they do not pay the fines.
abcnews.go.com — Feb 16, 2024
In the New York AG statement to the press, Letitia James noted that that Interest owed will just keep increasing — until all the fines on which it is based are paid off.
NY AG calls ruling a 'tremendous victory'
New York Attorney General Letitia James, whose office brought the civil fraud case against Donald Trump, described the ruling as a "tremendous victory for this state, this nation, and for everyone who believes that we all must play by the same rules -- even former presidents."
“When powerful people cheat to get better loans, it comes at the expense of honest and hardworking people," James said in a statement. "Everyday Americans cannot lie to a bank to get a mortgage to buy a home, and if they did, our government would throw the book at them. There simply cannot be different rules for different people."
The former president is "finally facing accountability for his lying, cheating, and staggering fraud," she said.
abcnews.go.com — Feb 16, 2024
Lesson to the wise, don’t run a business based on fraud in the state of New York, and expect to get away with it. Even if you think you are somehow “immune” from the laws and regulations that apply to everyday Americans.
Of course no one has ever accused Defraud Donald of being “wise” — far from it.
Judge Engoron today characterizes the career-Fraudster like this, instead:
Refusal to Admit Error [pg 87]
[...] Their complete lack of contrition and remorse borders on pathological. They [the Defendants] are accused only of inflating asset values to make more money. The documents prove this over and over again. This is a venial sin, not a mortal sin. Defendants did not commit murder or arson. They did not rob a bank at gunpoint. Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways. Instead, they adopt a “See no evil, hear no evil, speak no evil” posture that the evidence belies.
This Court is not constituted to judge morality; it is constituted to find facts and apply the law. In this particular case, in applying the law to the facts, the Court intends to protect the integrity of the financial marketplace and, thus, the public as a whole. Defendants’ refusal to admit error — indeed, to continue it, according to the Independent Monitor — constrains this Court to conclude that they will engage in it going forward unless judicially restrained.
Indeed, Donald Trump testified that, even today, he does not believe the Trump Organization needed to make any changes based on the facts that came out during this trial.
Judge Engoron in his ruling claims the Trump constant denials are nearly “pathological.”
The good magistrate may be onto something, eh?
“Adjudicated as ‘pathological’” is not exactly something you want on your business card, or political resume, now is it?
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