JUST IN: Trump Appeals Judgment in NYC Civil Fraud Case as Amount Owed Swells to $454 Million with Daily Penalties
President Trump on Monday appealed the $454 million judgment in the New York City Soviet-style show trial brought by AG Letitia James.
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President Trump on Monday appealed the $454 million judgment in the New York City Soviet-style show trial brought by AG Letitia James.
Radical Marxist New York Attorney General Letitia James sought $370 million in ‘damages’ when there is no victim in this fraud case and she also sought to ban Trump and his sons from operating any businesses in New York. She accused Trump of inflating his assets and defrauding lenders and insurance companies.
Earlier this month Judge Engoron ordered Trump to pay more than a $355 million fine and barred Trump “from serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years.”
Engoron claimed Trump and each of the defendants “participated in aiding and abetting the conspiracy to commit insurance fraud by their individual acts in falsifying business records and valuations, causing materially fraudulent SFCs to be intentionally submitted to insurance companies.”
Donald Trump Jr. and Eric Trump were also ordered to pay millions of dollars in fines.
Eric Trump and Don Jr. were ordered to pay $4,013,024 each.
“There is also sufficient evidence that Donald Trump, Jr. and Eric Trump intentionally falsified business records. They served as attorneys-in-fact for Donald Trump and were under a heightened duty of prudence,” Engoron wrote.
Trump Org. CFO Allen Weisselberg was ordered to pay $1 million.
The $355 million judgment PLUS daily interest has swelled to $454 million.
Letitia James has been taunting Trump by posting a daily calculator of compounding interest on the judgment.
Trump’s lawyers asked the appeals court to determine whether Judge Engoron abused his power or “acted in excess” of his jurisdiction, according to AP.
+$114,553.04 = $464,805,336.70 https://t.co/gugrACDTpC
— NY AG James (@NewYorkStateAG) February 25, 2024
AP reported:
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.
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