Trump Appeals $454M NY Fraud Judgment as Daily Interest Hits $112K
Trump Appeals $454M NY Fraud Judgment as Daily Interest Hits $112K – Former US President Donald Trump has launched an appeal against the $454 million New York civil fraud judgment, contesting Judge Arthur Engoron’s determination that Trump had misled about his wealth during the growth of his real estate empire.
Trump’s legal team filed appeal notices on February 26, urging the mid-level appeals court to overturn the February 16 verdict in the lawsuit initiated by New York Attorney General Letitia James.
In the court documents, Trump’s lawyers raised questions about whether Judge Engoron had committed errors of law or fact, abused his discretion, or exceeded his jurisdiction.
Notably, the appeal did not address whether Trump intended to halt the collection of the judgment during the appeal process.
Judge Engoron had found that Trump and his company engaged in a years-long scheme to deceive banks and insurers by inflating his wealth on financial statements.
The judgment included severe penalties and restrictions on Trump’s company, the Trump Organization, limiting its business activities in New York.
The appeal ensures an ongoing legal battle over Trump’s business practices while he seeks the Republican presidential nomination. If upheld, Engoron’s ruling will compel Trump to pay $355 million in penalties, with the total reaching nearly $454 million due to accruing interest at almost $112,000 per day until payment is made.
Trump’s appeal was anticipated, as he had consistently expressed his intention to challenge the judgment. During the trial, his lawyers accused Judge Engoron of bias, while also objecting to the legal aspects of James’s lawsuit.
Trump contends that the consumer-protection statute invoked by James is typically used against businesses that exploit customers.
In case the appeal is unsuccessful at the mid-level appellate division, Trump retains the option to seek consideration from the state’s highest court, the court of appeals.
This legal saga comes on the heels of another financial setback for Trump, as he was ordered to pay $83.3 million in January for defaming writer E. Jean Carroll, who accused him of sexual assault in the 1990s.
