Trump appeals $454 million New York civil fraud judgment
Former President Donald Trump's lawyers called the $454 million judgment "draconian" and complained that the "case violates centuries of New York case law."
Attorneys for former President Donald Trump filed an appeal on Monday, seeking to overturn a February ruling by a judge who found that Trump and his company had committed fraud totaling hundreds of millions of dollars. Trump's legal team characterized the $454 million judgment as excessive and contended that the case contravened longstanding New York case law.
Judge Arthur Engoron's ruling determined that Trump, along with his company and top executives, including his sons Eric and Donald Trump Jr., had systematically misled banks and insurance companies by inflating Trump's net worth to secure favorable terms. The judge calculated that the Trumps and their company had unlawfully profited by approximately $354 million through this deceptive scheme and ordered them to pay this amount back to the state, along with interest totaling about $100 million.
In their appeal, Trump's attorneys recycled arguments they had made during the two-month-long bench trial in 2023. They asserted that the accusations leveled by New York Attorney General Letitia James fell outside the statute of limitations and pertained to transactions that resulted in "no victims and no losses." Trump's lawyer, Christopher Kise, accused Engoron of enabling a politically motivated lawsuit against lawful business dealings.
The appeal also reiterated the longstanding claim that James' office lacked the legal standing to bring the 2022 suit against Trump and his company in the first place. This argument had previously led to sanctions against five Trump lawyers, who were each fined $7,500 for repeatedly raising "frivolous arguments." A spokesperson for James highlighted these fines in response to the appeal, expressing confidence that the judgment would be upheld on appeal based on the facts and the law.
Engoron's February ruling was highly critical of Trump and his associates, noting their lack of remorse and describing the fraud as blatant and shocking. During the trial, Trump denied any wrongdoing and attributed any inaccuracies in financial statements to undervaluation rather than overvaluation. However, Engoron found that Trump and his company had provided "blatantly false financial data" to accountants, demonstrating a pattern of conscious deception.
The appellate court is expected to review the case during its fall term, with a response from James' office due in August.
Judge Arthur Engoron's ruling determined that Trump, along with his company and top executives, including his sons Eric and Donald Trump Jr., had systematically misled banks and insurance companies by inflating Trump's net worth to secure favorable terms. The judge calculated that the Trumps and their company had unlawfully profited by approximately $354 million through this deceptive scheme and ordered them to pay this amount back to the state, along with interest totaling about $100 million.
In their appeal, Trump's attorneys recycled arguments they had made during the two-month-long bench trial in 2023. They asserted that the accusations leveled by New York Attorney General Letitia James fell outside the statute of limitations and pertained to transactions that resulted in "no victims and no losses." Trump's lawyer, Christopher Kise, accused Engoron of enabling a politically motivated lawsuit against lawful business dealings.
The appeal also reiterated the longstanding claim that James' office lacked the legal standing to bring the 2022 suit against Trump and his company in the first place. This argument had previously led to sanctions against five Trump lawyers, who were each fined $7,500 for repeatedly raising "frivolous arguments." A spokesperson for James highlighted these fines in response to the appeal, expressing confidence that the judgment would be upheld on appeal based on the facts and the law.
Engoron's February ruling was highly critical of Trump and his associates, noting their lack of remorse and describing the fraud as blatant and shocking. During the trial, Trump denied any wrongdoing and attributed any inaccuracies in financial statements to undervaluation rather than overvaluation. However, Engoron found that Trump and his company had provided "blatantly false financial data" to accountants, demonstrating a pattern of conscious deception.
The appellate court is expected to review the case during its fall term, with a response from James' office due in August.