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.
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.
The apologists are out and about it seems. The rich sycophants I get, wanting lower taxes and all. What I’ll never get is being middle or lower class and being so cucked as to defend some bourgeois criminal like he was a friend.
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?
Of course not.
Should a company be allowed to make up the numbers shown on its financial reports?
No, but that is not what happened. Do you actually understand what they did that was so wrong?
