A New York appellate court vacated a civil fraud penalty exceeding $500 million against President Donald Trump and the Trump Organization, ruling the sanction excessive. A Manhattan judge had ordered $454 million in forfeiture after a three-month bench trial that found a decade-long pattern of inflating Trump's net worth to banks. The penalty grew above $500 million with interest during appeal. Five appellate judges issued three separate opinions across 323 pages and disagreed on issues such as organizational liability for each count, statute-of-limitations rulings, and whether the state attorney general had authority to sue. A $175 million appeal bond remains frozen during further appeals.
A New York appellate court has tossed a massive civil fraud penalty against President Donald Trump and the Trump Organization, granting a significant legal win to the president. After a three-month bench trial, a Manhattan judge last year ordered the Trump Organization, Trump, and a group of other executives to pay $454 million. Trump had been ordered to forfeit the vast sum after a trial that revealed his decadelong pattern of lying to banks about his worth.
They issued three separate opinions spanning 323 pages. The opinions disagreed on significant legal issues underpinning the case, including whether the Trump Organization should be liable for every particular count, whether the trial judge wrongly allowed certain counts despite the statute of limitations, and whether New York Attorney General Letitia James had the authority to bring the lawsuit against Trump in the first place.
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