Legal Victory: Appeals Court Wipes Out Massive Civil Fraud Penalty for Trump… Full Details

Legal Victory: Appeals Court Wipes Out Massive Civil Fraud Penalty for Trump… Full Details

James, a Democrat, focused on the parts of the decision that went her way, saying in a statement that it “affirmed the well-supported finding of the trial court: Donald Trump, his company, and two of his children are liable for fraud.”

The ruling came seven months after Trump returned to the White House, his political fortunes unimpeded by the civil fraud judgment, a criminal conviction and other legal blows. A sharply divided panel of five judges in the state’s mid-level Appellate Division couldn’t agree on many issues raised in Trump’s appeal, but a majority said the monetary penalty was “excessive.”
NEW YORK (AP) — A New York appeals court on Thursday threw out President Donald Trump’s massive financial penalty while narrowly upholding a judge’s finding that he engaged in fraud by exaggerating his wealth for decades. The ruling spares Trump from a potential half-billion-dollar fine but bans him and his two eldest sons from serving in corporate leadership for a few years.

Trump claimed “TOTAL VICTORY” in the case, which stemmed from a civil lawsuit brought by New York Attorney General Letitia James.

“They stole $550 million from me with a fake case and it was overturned,” Trump said, echoing his earlier social media post as he addressed police in Washington, D.C. “They said this was a fake case. It was a terrible thing.”
A lower-court judge, Arthur Engoron, had ordered Trump last year to pay $355 million in penalties after finding that he flagrantly padded financial statements provided to lenders and insurers. With interest, the sum has topped $515 million. Additional penalties for executives at his company, the Trump Organization, including sons Eric and Donald Trump Jr., have brought the total to $527 million with interest.