Trump appeals $454m judgment in N/Y fraud case
Foreign News

Trump appeals $454m judgment in N/Y fraud case,%20I’

Former U.S. President, Donald Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that Trump lied about his wealth.

This is as he grew the real estate empire that launched him to stardom and the presidency.

The former president’s lawyers filed a notice of appeal, on Monday, asking the state’s mid-level appeals court to overturn Judge Arthur Engoron’s Feb. 16 verdict in Attorney General Letitia James’ lawsuit.

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 and/or his jurisdiction.

The New York judge had, on Friday, Feb. 16, ordered Trump to pay $355 million in penalties, finding that he lied about his wealth for years in a sweeping civil fraud verdict.

The verdict pierces his billionaire image but stops short of putting his real estate empire out of business.

Judge Arthur Engoron’s decision after trial in New York Attorney General Letitia James’ lawsuit punishes Trump, his company and executives.

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His two eldest sons were equally punished, for scheming to dupe banks, insurers and others by inflating his wealth on financial statements.

It forces a shakeup at the top of his Trump Organisation, putting the company under court supervision. The court also curtailed how the organisation does business.

The decision is a staggering setback for the Republican presidential front-runner. It is was the latest and costliest consequence of his recent legal troubles.

The magnitude of the verdict on top of penalties in other cases could dramatically dent Trump’s financial resources.

It could also damage his identity as a savvy businessman who parlayed his fame as a real estate developer into reality TV stardom and the presidency.

He has vowed to appeal and won’t have to pay immediately. (AP News)

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