Donald Trump's legal team is preparing to challenge a hefty civil fraud judgment that could significantly impact his real estate empire and financial standing.
According to AP News, the former president's appeal against a $489 million civil fraud verdict is scheduled to be heard by a New York appeals court on Thursday.
Trump's attorneys are seeking to overturn Judge Arthur Engoron's ruling, which found Trump guilty of deceiving banks, insurers, and others by misrepresenting his wealth on financial documents used for business deals and loans.
The case, brought by New York Attorney General Letitia James, resulted in a verdict that Trump's lawyers claim is "egregious" and should be nullified. On the other hand, James' office maintains that the decision is supported by "overwhelming evidence."
Trump's defense argues that the penalties imposed on him are excessive and unjustified. They contend that some allegations should have been barred by the statute of limitations and that the state lacks the authority to regulate private business transactions.
The former president's lawyers also claim that Attorney General James inappropriately used a consumer protection statute typically applied to businesses that defraud customers. They assert that upholding the decision would grant James "limitless power to target anyone she desires, including her self-described political opponents."
Trump himself has consistently denied any wrongdoing, insisting that he did not lie about his wealth or property values. He characterizes the verdict as "election interference" and a politically motivated attack.
The office of Attorney General James counters that Trump's appeal is filled with baseless legal arguments and disregards substantial evidence of fraud. They argue that Trump, his company, and top executives engaged in deliberate deception to secure loans and generate profits.
Assistant Solicitor General Daniel Magy stated in a court filing that the defendants "created and used financial statements rife with blatant misrepresentations and omissions to maintain loans worth more than half a billion dollars and to generate over $360 million in ill-gotten profits."
The state contends that Trump inflated his net worth on financial statements by up to $800 million annually, reaching as high as $2.2 billion in some years.
The appeal hearing is scheduled for Thursday at the Appellate Division, First Judicial Department in Manhattan. A panel of five judges will hear arguments from both sides, with each party allotted 15 minutes to present their case.
Trump has hired D. John Sauer to handle his appeal, while Judith Vale will represent Attorney General James' office. A decision from the Appellate Division is expected in about a month and could affect the case before Election Day. The court may uphold, reduce, or overturn the previous ruling.
In conclusion, Donald Trump's appeal of a $489 million civil fraud judgment is set to be heard in a New York court. His legal team is challenging the verdict, claiming it's unjust and exceeds legal boundaries. The state prosecutors, led by Attorney General Letitia James, maintain that the ruling is based on substantial evidence of fraudulent practices. The outcome of this appeal could have significant implications for Trump's business empire and financial future.
