Lawyers representing Donald Trump filed an appeal on Monday against a civil fraud judgment from February, which found the former president and his company liable for business fraud, according to Politico.
The 95-page appeal was submitted to the New York Supreme Court Appellate Division, accusing state Attorney General Letitia James of an “unauthorized, unprecedented power-grab.” Trump’s legal team argues that several loans cited by prosecutors should not have been considered in the case. The appeal claims that James “seeks to unwind and penalize complex, highly successful transactions between Appellants and sophisticated Wall Street banks that left all parties deeply satisfied and had no impact on the public interest.”
Manhattan Judge Arthur Engoron presided over the civil business fraud trial and imposed a $354 million penalty on Trump and the Trump Organization. As of late February, this judgment had increased to $464 million, continuing to accrue interest. In addition to the financial penalty, Judge Engoron barred Trump from operating any New York company for three years and prohibited his sons, Donald Jr. and Eric, from running any business in New York for two years.
The appeal contends that the ruling is excessively punitive and overlooks the successful nature of the transactions in question, which, according to Trump’s lawyers, were beneficial to all involved parties and did not harm public interest. The legal team maintains that the judgment represents an overreach of power by the Attorney General’s office, aiming to dismantle legitimate business dealings.
This legal battle stems from a broader investigation led by Attorney General James into the Trump Organization’s business practices. The investigation alleges that the company engaged in fraudulent activities, including inflating the value of assets on financial statements provided to banks and insurance companies.
The February judgment followed a trial that scrutinized the Trump Organization’s financial practices, ultimately concluding that the company had engaged in fraudulent behavior. Trump’s lawyers are now seeking to overturn this decision, arguing that the penalties imposed are unjust and that the transactions in question were above board.
The outcome of this appeal could have significant implications for Trump and his business operations in New York. If the appeal is successful, it may not only reduce the financial penalties but also lift the operational bans imposed on Trump and his sons. Conversely, if the appeal is denied, the judgment will stand, further restricting Trump’s business activities in the state.
As the legal process continues, both sides remain steadfast in their positions. The Attorney General’s office has defended the original judgment as a necessary action to hold the Trump Organization accountable for its fraudulent activities, while Trump’s legal team argues that the judgment is a political move aimed at damaging the former president and his business interests.