In his ruling that orders Donald Trump to pay nearly $355 million in profits from his fraud, Judge Arthur Engoron also ruled that the former president will have to pay interest on that money, dating back several years.
The interest could add close to $100 million to the amount Trump is liable for.
The judge broke down the $354,868,678 in disgorgement into three parts:
- He wrote that the defendants’ fraud saved them about $168 million in interest, fining Trump and his companies that amount. The former president will have to pay interest dating to March 2019 for those ill-gotten gains.
- Engoron also ruled that Trump and his companies were liable for over $126 million in ill-gotten profits from the sale of the Old Post Office in Washington, DC, a contract the judge says “was obtained through the use of false SFC (statements of financial condition).” On those profits, Trump will have to pay interest dating to May 2022.
- And the judge ruled that Trump and his companies were liable for $60 million in profits from the sale of Ferry Point in the Bronx. On this part of the verdict, Trump will have to pay interest dating to June 2023.
All of the prejudgment interest owed “shall be at the rate of nine percent per annum, except where otherwise provided by statute,” the judge wrote.
In a statement on X, New York Attorney General Letitia James cited a higher total amount by including the interest as well as the money owed by Trump’s two adult sons and former CFO.
“In a massive victory, we won our case against Donald Trump for engaging in years of incredible financial fraud to enrich himself,” she wrote. “Trump, Donald Trump, Jr., Eric Trump, and his former executives must pay over $450 million in disgorgement and interest.”
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