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While the fine was overturned, the judges upheld the finding that Trump and his company fraudulently inflated asset values to secure favourable loans and insurance
US President Donald Trump. (Reuters Image)
A New York appeals court on Thursday overturned a $464 million civil fraud penalty imposed on US President Donald Trump, calling the amount “excessive”, but upheld the earlier ruling that found him guilty of fraud.
The decision came from a five-judge panel of the Appellate Division of the New York Supreme Court. While the fine was thrown out, the judges agreed with the lower court’s conclusion that Trump and his company had fraudulently inflated the value of assets to gain favourable bank loans and insurance terms.
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The original ruling, delivered by Judge Arthur Engoron in February 2024 during Trump’s re-election campaign, had ordered him to pay $464 million, including interest. His sons, Eric Trump and Donald Trump Jr., were each ordered to pay over $4 million. The court also banned Trump from operating businesses in New York for three years, a move he described as a “corporate death penalty.”
Responding on his Truth Social platform, President Trump called the case a “political witch hunt” and said, “Everything I did was absolutely CORRECT and, even, PERFECT.”
“Every single Dollar was thrown out, even the penalties imposed on us by the Corrupt Judge, one of the most overturned in History, Arthur Engoron,” he added.
His son Don Jr. hailed the ruling as a “massive win” on X, claiming it confirmed what they had long argued, that the case was politically driven and unfair.
“New York Appeals Court has just THROWN OUT President Trump’s $500+ Million civil fraud penalty! It was always a witch hunt, election interference, and a total miscarriage of justice… and even a left leaning NY appeals court agrees! NO MORE LAWFARE!” he wrote,
New York Attorney General Letitia James, who brought the case, said she would appeal the latest decision to the state’s highest court.
Trump, now serving his second term as president, continues to face several other legal challenges. He has frequently claimed that ongoing cases against him are part of a politically motivated campaign by his opponents.
(With inputs from AFP)
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The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More
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