Letitia James gleefully live-tweets $114,000 daily interest charges on Trump fine

 February 27, 2024

New York Attorney General Letitia James (D) is fortunate that courts don't give penalties for gloating about a win.

On Sunday, James gleefully live-tweeted the fact that at the current 9% interest rate, former President Donald Trump's $355 million fine will accrue more than $114,000 a day in interest charges until he pays it or it is overturned on appeal.

Plan to seize assets

James also said following the verdict on February 16 that she is prepared to seize Trump's assets if he doesn't pay the fine as ordered.

“We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street each and every day,” she told ABC News last week.

Trump and his co-defendants, his sons Donald Jr. and Eric as well as former Trump Organization officials, signaled on Monday in a court filing that they plan to appeal the verdict, Trump's part of which actually totals $455 million when including interest that has accrued since the documents were first submitted.

Trump has 30 days after filing the intent to appeal to post a bond in the full amount of the fine as surety in order for the appeal to be official.

Slowing it down

His legal team also filed asking for a 30-day delay in enforcing the verdict, which would give him an extra month to come up with the cash.

Lawyers for Trump argued that James was in an "unseemly" rush to enforce the verdict, “particularly given the magnitude of Judgment.”

There are few people in the world who could even pay a fine of that magnitude, and the Supreme Court could very well step in to reduce it as they have in previous massive verdicts.

Clearly, James and her cohorts are trying to hurt Trump in a way they know he will understand: his pocketbook, and they knew they had to do so in a huge way for it to register.

He can pay

According to reports, the Trump Organization has $3.1 billion in assets, and about $600 million of that is cash.

It's enough to pay the bond, but could leave the organization without enough cash on hand to operate.

Trump and his lawyers have both said they expect to win on appeal, so Manhattan better hold on to his money if they do get it, because they may have to give it back.

" A free people [claim] their rights, as derived from the laws of nature."
Thomas Jefferson
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