Trump appeals $454M fraud judgement in New York.
Former President Trump is facing a legal battle as he appeals a civil fraud ruling that mandates he pay over $450 million. The former president’s legal team has filed paperwork with a mid-level appeals court in New York, denouncing Judge Arthur Engoron’s ruling in February as “draconian, unlawful, and unconstitutional.”
Christopher Kise, a lawyer for Trump, asserted, “Such an outrageous miscarriage of justice is profoundly un-American, and a complete reversal is the only means available to restore public confidence in the integrity of the New York judicial system.”
Trump’s lawyers are arguing that the lawsuit decision bestows New York Attorney General Letitia James with “limitless power to target anyone she desires, including her self-described political opponents.”
The attorney general’s office countered these claims by stating, “We won this case based on the facts and the law, and we are confident we will prevail on appeal.”
Judge Engoron’s ruling in February concluded that Trump and other defendants were responsible for ongoing fraud, falsifying business records, issuing false financial statements, conspiracy to falsify false financial statements, insurance fraud, and conspiracy to commit insurance fraud.
In a prelude to the non-jury trial in September 2023, Engoron had already ruled that Trump and the Trump Organization had engaged in fraudulent activities while building the former president’s real estate empire. This was done by deceiving banks, insurers, and other parties through overvaluing assets and inflating net worth figures on documents used to close deals and secure financing.
Initially slapped with a penalty of $355 million, Trump now faces a growing debt as interest piles up at a rate of approximately $112,000 per day until the amount is fully repaid, currently hovering around $470 million.
Trump’s legal team has denounced Engoron’s rulings as “legally bereft” and “untethered to the law or to commercial reality” due to the extreme severity of the nearly half-billion dollar financial penalty hanging over Trump, as well as arguments concerning expired statute of limitations on some charges.
If Trump’s appeal falls through, he could be on the hook for the entire $454 million, putting his real estate holdings at risk of seizure by Letitia James.
The Appellate Division has the authority to uphold Engoron’s decision, modify the penalty, or overturn the conviction altogether. Should Trump’s initial appeal fail, he retains the option to petition the Court of Appeals, New York’s highest judicial body, to review the case.
