President Trump has filed an appeal against the judgment in the ridiculous New York City trial, orchestrated by AG Letitia James, which found him liable and ordered him to pay over $450 million in fines.
Radical marxist AG Letitia James sought $370 million in “damages” in a fraud case that has no victims. Additionally, she aimed to ban Trump and his sons from conducting any business activities in New York. The accusations against Trump include allegations of inflating assets and defrauding lenders and insurance companies.
In a recent ruling, Judge Engoron imposed a fine exceeding $355 million on Trump and barred him from holding officer or director positions in New York-based corporations for three years. Engoron asserted that Trump and his co-defendants were complicit in aiding and abetting insurance fraud by manipulating business records and valuations, resulting in fraudulent submissions to insurance companies.
President Trump will continue to accrue post-judgment interest at a rate of an additional $111,984 per day until the hundreds of millions of dollars in fines are paid.
Eric Trump and Don Jr. were ordered to pay $4,013,024 each.
CNBC reported:
Former President Donald Trump on Monday filed a notice of appeal of the New York civil judgment finding him liable for fraudulently inflating his net worth on years of financial statements.
The legal challenge came less than two weeks after Judge Arthur Engoron ordered Trump to pay more than $450 million in fines and interest for his fraudulent business practices.
“We trust that the Appellate Division will overturn this egregious fine and take the necessary steps to restore the public faith in New York’s legal system,” Trump attorney Alina Habba said in a statement.
Engoron also barred Trump for three years from running a business in New York or applying for loans from financial institutions registered with the state.
Trump’s post-judgment interest will continue to accrue at $111,984 each day until it is paid, according to the office of New York Attorney General Letitia James, who brought the case against Trump and his company.
Trump’s co-defendants, including Eric Trump, Donald Trump Jr., a slew of Trump Organization entities and two of its executives, joined Monday’s appeals.
The $355 million judgment, plus daily interest, has inflated to a staggering $454 million.
According to AP, Trump’s legal team petitioned the appeals court to ascertain whether Judge Engoron had overstepped his authority or “acted in excess” of his jurisdiction.
From AP:
Donald Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that Trump lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.
The former president’s lawyers filed notices of appeal Monday asking the state’s mid-level appeals court to overturn Judge Arthur Engoron’s Feb. 16 verdict in Attorney General Letitia James’ lawsuit and reverse staggering penalties that threaten to wipe out Trump’s cash reserves.
Trump’s lawyers wrote in court papers that they’re asking the appeals court to decide whether Engoron “committed errors of law and/or fact” and whether he abused his discretion or “acted in excess” of his jurisdiction.
