The civil judgment against President-elect Donald Trump in New York’s fraud case has quietly reached a staggering milestone: $502 million. A spokesperson for New York Attorney General Letitia James confirmed the updated figure on Thursday, highlighting the immense financial cloud looming over Trump as he prepares to re-enter the White House, according to CBS News.
The judgment stems from a court ruling that found Trump liable for fraud, accusing him of inflating property values to secure favorable loans and interest rates. Initially set at $464 million in damages, the amount has ballooned due to daily interest accruals of more than $114,000. The total surpassed the half-billion mark on December 29.
CBS News noted the extraordinary scale of the judgment, comparing it to the combined proposed 2025 budgets of Albany and New Rochelle, New York’s sixth and seventh largest cities. Trump, along with his two eldest sons and a former top executive, was ordered to pay the state of New York.
Reports indicate that Trump is personally responsible for approximately $490 million of the total. While the judgment is under appeal, the daily interest ensures the amount continues to climb as Trump and his co-defendants await a decision from New York’s appellate court, which is expected in the coming months.
“The court typically releases opinions on Tuesday and Thursday mornings, and the Trump case was not among the batch released today,” CBS News reported.
The financial strain from this case adds to Trump’s legal challenges. He also owes over $88 million to journalist E. Jean Carroll following two separate cases in which a jury found him liable for sexual abuse and defamation. Like the New York fraud judgment, these cases are also under appeal.
Despite the mounting legal and financial pressures, Trump is set to be sworn in as the 47th president on Monday. He has repeatedly criticized the New York civil fraud case and its judgment, describing it as a politically motivated attack.
With over half a billion dollars in debt tied to the fraud case and additional liabilities from other lawsuits, Trump’s legal and financial entanglements are likely to remain a significant issue during his presidency.