Trump Appeals $454M Fraud Judgment, Claims 'Miscarriage of Justice'
July 23, 2024New York Attorney General Letitia James accuses Trump of engaging in deceptive business practices and fraud, emphasizing the ruling's importance in safeguarding the marketplace's integrity.
Trump's attorney demands a complete reversal of the judgment, labeling it an 'outrageous miscarriage of justice' that necessitates restoring public faith in the New York judicial system.
Former President Donald Trump is appealing a $454 million civil fraud judgment against him and his company.
The civil fraud case accuses Trump of inflating his wealth to secure loans and deals, resulting in a substantial penalty and business restrictions.
Manhattan Judge Arthur Engoron ordered Trump and his company to pay a $464 million penalty in the civil business fraud trial.
The fraud ruling was based on allegations of Trump inflating his net worth to gain financial advantages.
Trump, the Republican nominee for president, denies any wrongdoing and criticizes the case and judgment.
Trump's lawyers seek to overturn the $454 million civil fraud judgment against him, arguing errors in the ruling.
Trump's attorneys claim the case lacks victims, proven injuries, or losses justifying the hefty monetary penalty.
Trump's legal team argues that seven of the ten loan transactions in the case should have been dismissed based on the statute of limitations, potentially reducing the judgment by over $350 million.
If Trump loses the appeal, he faces paying the full $454 million, risking seizure of his real estate portfolio by New York Attorney General Letitia James.
The appeal process includes upcoming oral arguments in September, with uncertainty on the ruling's timing before the November election.
Summary based on 7 sources
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Sources
Yahoo News • Jul 23, 2024
Trump appeals civil fraud judgment against his company in New York caseNBC News • Jul 23, 2024
Trump appeals civil fraud judgment against his company in New York case