Donald Trump's lawyers have asked the appeals court to overturn a civil fraud ruling that ordered the Republican presidential candidate to pay $454 million.
Politico writes about this.
Trump appeals fraud ruling
The statement called the verdict “an unauthorized, unprecedented seizure of power” by New York Attorney General Tisha James.
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The publication writes that the $454 million verdict poses a significant threat to Trump's finances, even though a panel of state appellate judges allowed him to delay payment of the entire amount while he appeals.
The decision on the monetary penalty was made in February by Judge Arthur Engoron. He ruled that the ex-president and his company committed fraud by falsely inflating their wealth to obtain favorable rates from banks and insurers.
In the appeal, Trump's lawyers called Engoron's decision “erroneous” and argued that the judge “was trying to understand basic banking concepts”. They argued that Engoron improperly overruled the appellate court's ruling regarding the statute of limitations.
The appeals court has scheduled oral arguments in the case for early September, and it is unclear whether the court will rule on the appeal before the November election.
Recall that in September 2023, Trump was found guilty of fraud in a lawsuit filed by the New York Attorney General, who accused Trump of exaggerating his wealth by billions of dollars a year in the financial statements he provided to banks and insurers.
