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2/21
GoFundMe has an answer for those who have asked if Donald Trump's fundraiser on their site goes against their policy.
The has so far raised over $500k since being launched to help the billionaire mogul pay off the $355 million fine from his New York fraud trial.
GoFundMe Says The 'Fundraiser Is Currently Within Our Terms Of Service'
In the aftermath of Trump being slammed with a whopping $355 million fine for fraudulently inflating his assets in financial documents by a New York court, MAGA supporters started raising funds via GoFundMe to offset the fine for the billionaire mogul.
The page, launched by Elena Cardone, the wife of real estate mogul Grant Cardone, has since raised over $500,000 and counting. However, several individuals took to social media to call out GoFundMe, saying that the fundraiser violates their policy. Some even put up screenshots of the company's terms of service in a bid to draw their attention to their complaints.
In response to the callouts, Jalen Drummond, the director of public affairs at the company, told Newsweek, "This fundraiser is currently within our terms of service."
This means that the fundraiser would be allowed to continue, allowing more MAGA supporters to pool their funds for the embattled billionaire and business mogul.
Expert Claims The Donald Trump GoFundMe Won't Cover The Interest On The Fine
Despite how impressive the fundraiser has been, an expert tagged it a futile effort, saying it won't even pay off the interest on the fine.
"It's notable that it has raised less than $0.5m in three days. That won't even cover the interest he owes," University of Surrey American politics lecturer Dr Mark Shanahan told the news outlet in an interview.
Donald Trump GoFundMe Is Not Even Paying Off The Interest On His Fine
He added, "While any decision on whether he has to pay up could well be held up in the appeals process is Trump's lawyers can find sufficient reason to persuade the judiciary to return his cases to court—by no means a given—he will still have to deposit much of what he owes in escrow. He'll need much more than faithful MAGAs to meet the court's demands."
Trump is expected to pay a nine percent interest rate on the sum of damages as mandated by the state of New York. Additionally, per a pre-trial ruling on the case, the fine "will continue to increase every single day" until Trump complies.
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