New York AG appeals reversal of Trump's $500 million fraud penalty
A lower court said in August that the huge fine on President Donald Trump and his company violated the U.S. Constitution's ban on excessive fines.
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New York Attorney General Letitia James holds a press conference following a ruling against former U.S. President Donald Trump ordering him to pay $354.9 million and barring him from doing business in New York State for three years, in the Manhattan borough of New York City on Feb. 16, 2024.
David Dee Delgado | Reuters
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Engoron ruled that Trump and other defendants overstated the purported value of real estate assets owned by the Trump Organization to inflate Trump's net worth. In turn, those bogus valuations helped Trump's company get better terms on loans and other financial benefits, the judge ruled.
Engoron cited those findings in imposing the massive fine on Trump and other defendants.
The notice of appeal filed on Thursday is brief and does not detail the arguments for why James believes the decision should be overturned. Those arguments will be laid out in future filings.
A spokeswoman for James had no comment on the filing.
A spokesman for Trump's legal team, in a statement, said, "New York AG Letitia James' political crusade against President Trump, which is barred by the Statute of Limitations, where she valued Mar-a-Lago in Palm Beach, FL, which is worth at least $2 billion dollars, at a ridiculous $18 million, and engaged in a ton of other fatal errors, was already annihilated by the New York Appellate Division, First Department."
"Tish James should focus on her own problems and stop wasting New York State taxpayers' hard earned dollars on her failed Witch Hunt against President Trump, his family, and the magnificent business that he built," the spokesman said.
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