Trump to appeal against £350m judgment made against him in fraud lawsuit
26 February 2024, 15:34
The former president was ordered to stump up the money after a judge found he had lied about his wealth to deceive banks and insurers.
Donald Trump has appealed against his 454 million US dollar (£358 million) New York civil fraud judgment.
The former president has challenged a judge’s finding that he lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.
Mr Trump’s lawyers filed a notice of appeal on Monday asking the state’s mid-level appeals court to overturn Judge Arthur Engoron’s February 16 verdict in attorney general Letitia James’ lawsuit.
Mr Trump’s lawyers wrote in court papers that they’re asking the appeals court to decide whether Judge Engoron “committed errors of law and/or fact” and whether he abused his discretion and/or his jurisdiction.
+$114,553.04 = $464,805,336.70 https://t.co/gugrACDTpC
— NY AG James (@NewYorkStateAG) February 25, 2024
Judge Engoron found that Trump, his company and top executives, including his sons, Eric and Donald Trump Jr, schemed for years to deceive banks and insurers by inflating his wealth on financial statements used to secure loans and make deals.
Among other penalties, the judge put strict limitations on the ability of Mr Trump’s company, the Trump Organisation, to do business.
The appeal ensures that the legal fight over Mr Trump’s business practices will persist into the thick of the presidential primary season, and likely beyond, as he tries to clinch the Republican presidential nomination in his quest to retake the White House.
If upheld, Judge Engoron’s ruling will force Mr Trump to give up a sizable chunk of his fortune.
Judge Engoron ordered Trump to pay 355 million dollars (£280 million) in penalties, but with interest the total has grown to nearly 454 million dollars (£358 million).
That total will increase by nearly 112,000 dollars (£88,000) per day until he pays.
