A New York appeals court has struck down a penalty of more than $500 million plus interest imposed on US President Donald Trump in a civil fraud case.
In a detailed 323-page judgment, a five-judge bench of the Appellate Division of the New York Supreme Court upheld the original verdict but ruled that the fine was ‘excessive’ and in breach of the Eighth Amendment of the US Constitution.
Additionally, in 2022, New York Attorney General Letitia James sued Donald Trump and his company, alleging they inflated the value of properties and assets to secure advantageous loans and insurance deals, according to Xinhua news agency.
In February 2024, a judge ruled that Trump had unlawfully exaggerated his wealth and ordered him to pay a penalty exceeding $500 million, along with interest. The judge also directed his sons, Donald Trump Jr and Eric Trump, to pay separate fines.
Reacting to the latest ruling, Trump declared it a ‘total victory’ in a Truth Social post, praising the court for overturning what he described as an ‘unlawful and disgraceful decision’ that he claimed had harmed businesses in New York.
The Wall Street Journal described the judgment as ‘a significant legal boost’ for the president, sparing him, at least for now, from a penalty that caused major financial strain last year.
The newspaper added that the case remains controversial, both legally and politically.
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