New York state attorneys have filed documents urging an appeals court to uphold a nearly $500 million civil fraud judgment against Donald Trump. The state argues that there is overwhelming evidence supporting a judge’s ruling that the former president deceived about his wealth over the years as he developed his real estate empire. The Attorney General’s office stated that Trump and his co-defendants engaged in significant fraud and illegality. Trump’s appeal is criticized for lacking merit and disregarding substantial trial evidence of financial deception.
According to Assistant Solicitor General Daniel S. Magy, Trump and top executives, such as his sons Eric and Donald Trump Jr., utilized financial documents filled with misrepresentations and omissions to maintain loans exceeding $500 million and generate over $360 million in illicit profits.
The Appellate Division announced it would hear the case on September 26, just before the election, with a decision likely before the race concludes. If the judgment stands, it could impact Trump’s personal wealth, his company, and his image as a successful businessman. Trump currently owes over $485 million, including ongoing interest even after posting a $175 million bond.
Trump is seeking to overturn a judge’s finding that he provided false information about his finances to secure loans and business deals. The Appellate Division may affirm, alter, or reverse the decision. Trump’s defense argues against the trial, statute of limitations, and the state’s involvement in business transactions.
The state’s lawyers defend that the statute of limitations was accurately applied and that the attorney general is authorized to address fraudulent business behavior regardless of the parties involved. Trump denies any wrongdoing and claims the case is politicized. The court’s decision will impact Trump’s financial standing and his business operations.
The judgment, if upheld, could result in Trump forfeiting a significant portion of his wealth. Besides the financial penalty, the court imposed restrictions on Trump’s company, directing it to be supervised by a court-appointed monitor. Trump inflated his net worth to enhance his image and gain financial benefits, according to the ruling.
Trump maintains that he is worth billions and possesses substantial assets. However, the Attorney General may pursue seizing his assets if he fails to pay the judgment. Trump’s lawyers argue that upholding the decision would grant the Attorney General excessive power. The appeals court will determine the final outcome of the case.
