Trump's Towering Fine: From $355 Million to $454 Million Explained

For those who have not been paying attention. How much does Trump owe in New York? How did his fine go from $355 million to $454 million? Why the interest? What about his sons Eric and Don Junior? How much do they owe daily in interest? What about Allen Weisselberg?

Because this can get confusing, let me break it down for you so you don't have to.

1- On February 16, Judge Arthur Engoron in New York City ruled that Donald Trump committed fraud by inflating his assets to gain favorable loans and fined him nearly $355 million.

2- Because this alleged fraud reportedly took place over the years, the judge ruled that Trump deprived New York of money and must pay interest on the money he made. But how much was the interest? We did not know until late yesterday.

3. After 3 p.m. EST yesterday, the clerk in Manhattan Supreme Court officially filed Justice Arthur Engoron’s February 16 ruling against Trump and his former top executives, saying that the total amount is more than $454 million with interest. The interest therefore was $99 million.

4. In case you missed what I just said, the judge initially fined Trump about $355 million and then yesterday added $99 million in interest, bringing the total amount to about $454 million.

5. That amount of money will increase by $87,502 per day until Trump pays off. If he does not, New York Attorney General Letitia James has vowed to seize his assets, including his buildings in New York City. She said her office is nearby and she sees the building every time she goes to work.

6. But Trump was not the only one fined. Other executives, included Trump's sons, Eric Trump and Donald Trump Junior, as well as Allen Weisselberg, Trump's former CFO or Chief Finacial Officer. How much were they fined and how much interest will they pay daily? I'm glad you asked.

7. Trump's sons, Eric and Donald Jr., are each required to pay about $4.7 million, including interest, for their shares of the Washington hotel sales. Allen Weisselberg, Trump's former CFO, owes $1 million plus about $100,000 in interest.

8. Until they pay, Weisselberg is accruing an additional $247 per day, while each of Trump's sons owes an extra $990 per day.

9. Trump has said he will appeal the ruling but can’t do so without putting up the cash.

10. But how many days does he have before he can appeal? I am glad you asked again.

11. The ruling against Trump was announced on February 16. Trump has 30 days to appeal. But the 30-day period began yesterday, Friday, February 23 because the appeal countdown begins from the day the judgment is formally entered into the court docket, not necessarily the day of the initial ruling.

12. This means that in the case of Donald Trump's $355 million verdict in New York, the additional $99 million in interest was specified in a judgment that formalized Justice Arthur Engoron’s February 16 verdict. This formalized judgment, which detailed the total damages at $454 million, was posted to the court docket on a subsequent Friday.

13. Therefore, the 30-day countdown for Trump to appeal the verdict and the interest amount starts from the date this formal judgment, including the interest, was entered into the court docket, not the date of the initial ruling. So Trump has until March 24 to appeal.

14. This process ensures that all parties are clear on the specifics of the judgment, including the total amount owed and the timeframe within which an appeal must be filed.

15. I hope this is as clear and as simple as possible to understand.