A New York appeals court threw out the civil fraud disgorgement order against President Donald Trump while upholding a judge's finding that he exaggerated his wealth for decades. The ruling eliminates a potential $515 million-plus penalty but imposes temporary bans on Trump and his two eldest sons from serving in corporate leadership. Judge Arthur Engoron had ordered $355 million in penalties, which with interest exceeded $515 million; combined penalties for others reached over $527 million. The appeals court called the disgorgement excessive under the Eighth Amendment and left open a path for further appeal to the Court of Appeals.
A New York appeals court on Thursday threw out President Donald Trump's massive civil fraud penalty while upholding a judge's finding that he exaggerated 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. The decision came seven months after the Republican returned to the White House.
"While the injunctive relief ordered by the court is well crafted to curb defendants' business culture, the court's disgorgement order, which directs that defendants pay nearly half a billion dollars to the State of New York, is an excessive fine that violates the Eighth Amendment of the United States Constitution," Judges Dianne T. Renwick and Peter H. Moulton wrote in one of several opinions shaping the appeals court's ruling.
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