Trump’s New York Fraud Case Hits Jaw-Dropping Milestone: Report
[Photo credit: Andrew Harnik/AP Photo]
The civil judgment in President-elect Donald Trump’s New York fraud case quietly hit a new staggering milestone: half a billion dollars.
The eye-popping figure – which a spokesperson for New York Attorney General Letitia James confirmed Thursday reached $502 million – means Trump will likely enter the White House with the massive debt still hanging over his head as he pursues an appeal , CBS News reported .
Trump was hit with $464 million in damages – which is growing daily because of interest — after a judge found him liable for fraud for inflating the value of his properties to secure favorable loans and interest rates.
The massive figure the incoming president, his two sons and a former top executive were ordered to pay the state of New York crossed the half-billion dollar mark on Dec. 29 after it continued to stack up more than $114,000 in interest per day, according to the network.
That’s more than “the combined proposed 2025 budgets for New York’s sixth and seventh largest cities, Albany and New Rochelle,” CBS News noted.
Trump, who has repeatedly slammed the judgment and the New York civil case altogether, would be personally liable for approximately $490 million of the amount, according to media reports.
The judgment is under appeal, but as CBS News pointed out, is continuing to pile up while Trump and his co-defendants await the New York appellate court’s decision expected within the next few months.
“The court typically releases opinions on Tuesday and Thursday mornings, and the Trump case was not among the batch released today,” the network reported.
Trump is set to be sworn in as the nation’s 47th president on Monday. In addition to the New York civil fraud judgment, Trump also owes more than $88 million to veteran journalist E. Jean Carroll after a jury found him liable – in two separate cases – for sexual abuse and defamation, according to CBS news.
He is also appealing those cases.
