Trump’s Nearly $500M Civil Fraud Penalty Tossed By New York Appeals Court
Synopsis
The ruling overturns a February 2024 judgment that Trump enriched himself for years by inflating asset values to secure favorable loans.
A New York appeals court on Thursday struck down a nearly half-billion-dollar fraud penalty against President Donald Trump and his company in a civil case over asset valuations, but upheld the finding of liability.
This gives Trump a financial victory while affirming that he broke the law. The ruling vacates a February 2024 judgment from a Manhattan trial judge, who found that Trump inflated the value of his assets for more than a decade to secure favorable loan terms. The appeals panel called the penalty “excessive” but maintained that Trump’s conduct violated state law.
Get updates to this developing story <directly on Stocktwits.<
Read also: Culper Research Shorts Tecnoglass, Flags Cartel Ties And Insider Selling
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.