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NY appeals panel signals skepticism over state’s $464M Trump judgment

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A New York appeals panel is expressing skepticism about the state’s civil fraud case against former President Donald Trump, which resulted in a $464 million judgment against him and his business. During a hearing Thursday, Sept. 26, the five-judge panel raised significant questions regarding the authority of New York Attorney General Letitia James.

Justice John Higgitt questioned potential overreach, asking, “How do we draw a line, or at least put up some guardrails, to know when the AG is operating well within her broad — admittedly broad — sphere … and when she is going into an area that wasn’t intended for her jurisdiction?”

In February, a lower court found Trump and his organization guilty of falsely inflating his net worth to gain tax benefits and secure better business deals. Trump’s attorney argued that the state’s case was filed too late, relied on outdated financial statements and resulted in an unjustified “crippling penalty.”

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Trump’s legal team stated that banks he worked with found no evidence of fraud in their dealings with The Trump Organization. The state faced interruptions during its opening remarks justifying the case against Trump, as justices pressed on whether precedents exist for suing sophisticated partners like Trump.

“I’ve gone through the cases you’ve cited, and all of them always involved consumer protection — the protection of the market. You don’t have anything like that here,” Justice David Friedman said.

Trump has posted a $175 million bond to prevent the state from collecting the judgment while his appeal is pending. However, interest continues to accrue, adding an extra $25 million to the original $464 million judgment.

A decision on Trump’s appeal is expected in the coming months but is not anticipated before Election Day.

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KARAH RUCKER: A NEW YORK APPEALS PANEL SEEMS TO BE CASTING DOUBT ON THE STATE’S CIVIL FRAUD CASE AGAINST FORMER PRESIDENT DONALD TRUMP, WHICH RESULTED IN A STAGGERING $464 MILLION DOLLAR JUDGMENT AGAINST HIM AND HIS BUSINESS EMPIRE.

DURING A HEARING THURSDAY, THE FIVE-JUDGE PANEL RAISED CRITICAL QUESTIONS ABOUT THE AUTHORITY OF NEW YORK ATTORNEY GENERAL LETITIA JAMES —

ONE JUSTICE RAISING CONCERNS ABOUT POTENTIAL OVERREACH IN THE ATTORNEY GENERAL’S POWERS.

Justice John Higgitt asking “How do we draw a line, or at least put up some guardrails, to know when the AG [attorney general] is operating well within her broad — admittedly broad — sphere … and when she is going into an area that wasn’t intended for her jurisdiction?”

IN FEBRUARY, A LOWER COURT FOUND TRUMP AND HIS ORGANIZATION GUILTY OF FALSELY INFLATING TRUMP’S NET WORTH TO GAIN TAX BENEFITS AND BETTER BUSINESS DEALS.

TRUMP’S ATTORNEY ARGUED THAT THE STATE’S CASE WAS FILED TOO LATE, RELIED ON OUTDATED FINANCIAL STATEMENTS. AND RESULTED IN AN UNJUSTIFIED “CRIPPLING PENALTY.”

TRUMP’S TEAM SAYS BANKS HE WORKED WITH FOUND NO EVIDENCE OF FRAUD IN THEIR DEALINGS WITH THE TRUMP ORGANIZATION.

THE STATE WAS INTERRUPTED IN THEIR OPENING REMARKS JUSTIFYING THE CASE AGAINST TRUMP.

JUSTICES PRESSED THE STATE ON WHETHER THERE ARE PRECEDENTS FOR SUING SOPHISTICATED PARTNERS LIKE TRUMP. 

JUSTICE DAVID FRIEDMAN SAYING –

“I’VE GONE THROUGH THE CASE THAT YOU’VE CITED, AND ALL OF THEM ALWAYS INVOLVED CONSUMER PROTECTION ASPECT — IT INVOLVED PROTECTION OF THE MARKET. YOU DON’T HAVE ANYTHING LIKE THAT HERE.”

TRUMP HAS POSTED A $175 MILLION BOND TO BLOCK THE STATE FROM COLLECTING THE JUDGMENT WHILE HIS APPEAL IS PENDING –

HOWEVER INTEREST CONTINUES TO ACCRUE – WHICH IS NOW AN EXTRA 25 MILLION DOLLARS ON TOP OF THE ORIGINAL 464 MILLION JUDGMENT.

A DECISION ON TRUMP’S APPEAL IS EXPECTED IN THE COMING MONTHS, BUT IS NOT EXPECTED TO COME BEFORE ELECTION DAY.

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