In February 2024, a judge found that Trump unlawfully inflated his wealth and ordered the president to pay the penalty.
A New York appeals court threw out a more than $500 million penalty plus interest against US President Donald Trump in a civil fraud case.
In the 323-page ruling by a five-judge panel, the Appellate Division of the New York Supreme Court upheld the verdict, saying that the size of the fine was “excessive” and that it “violates the Eighth Amendment of the United States Constitution.”
New York Attorney General Letitia James filed a lawsuit in 2022, accusing Trump and his company of overstating the value of his properties and other assets to obtain favorable bank loans or insurance terms, Xinhua news agency reported.
