A New York appeals court overturned Donald Trump's massive financial penalty in a fraud case, but upheld the finding that he exaggerated his wealth. This removed a potential half-billion-dollar fine but maintained a ban on Trump and his sons from corporate leadership. Trump called it a "TOTAL VICTORY."
The case stemmed from a civil lawsuit by New York Attorney General Letitia James. The court agreed the penalty was excessive. A lower court had ordered Trump to pay $355 million, which with interest, exceeded $515 million.
The appeals court upheld other punishments, but they were paused during Trump's appeal. The five-judge panel dismissed the monetary penalty entirely, leaving a pathway for appeal.
The judges issued a lengthy ruling with differing opinions. Some felt James's lawsuit was justified, but the penalty was too severe. One judge criticized James's motives as political.
Trump denied wrongdoing, claiming the case was politically motivated. His lawyers argued the financial statements weren't deceptive, and the loans were repaid. The civil fraud case was one of several legal challenges for Trump.
5 Comments
Amatus
He's always been honest about everything and I'm glad that the judge saw the political motivation in the case
Leonardo
YES! A HUGE win for Trump! The fine was ridiculous. The witch hunt continues but good to see some justice prevail!
Michelangelo
The fact they still uphold the finding of exaggerating his wealth is damning. The removal of the fine is a loophole. He's not off the hook.
Leonardo
This is fantastic news! Another example of the deep state trying to take him down. He's innocent until proven guilty!
Raphael
Glad to see them taking a closer look at the overreach. This was a blatant attempt to punish him.