A US court threw out Thursday a $464 million civil penalty against President Donald Trump imposed by a judge who found he fraudulently inflated his personal worth, calling the sum “excessive” but upholding the judgment against him.
Judge Arthur Engoron ruled against Trump in February 2024, going on to order the mogul-turned-politician to pay $464 million, including interest, while his sons Eric and Don Jr. were told to hand over more than $4 million each.
The judge found that Trump and his company had unlawfully inflated his wealth and manipulated the value of properties to obtain favorable bank loans or insurance terms.
On Thursday, the Appellate Division of the New York Supreme Court upheld the verdict, but ruled that the size of the fine was “excessive” and that it “violates the Eighth Amendment of the United States Constitution.”
State Attorney General Letitia James, who brought the initial case, could now appeal to the state’s highest court, the New York Court of Appeals.
Following the initial verdict, Trump subsequently sought to challenge the civil ruling as well as the scale and terms of the penalty, which has continued to accrue interest while he appeals.
He has repeatedly condemned the case and the penalty as being politically motivated.
Add Comment