As former President Donald Trump nears the end of his presidential bid, his legal team is gearing up to present arguments in a New York appeals court to challenge a civil fraud judgment that could potentially cost him close to $500 million. The hearing before a five-judge panel in Manhattan is set to begin at noon and will be available for viewing online.
Trump is contesting a ruling made by Judge Arthur Engoron in February, which concluded that he had provided false information about his wealth on documents submitted to financial institutions and insurers in order to facilitate deals and obtain loans. This ruling directly affects Trump’s public image as a successful businessman.
Despite the impending court appearance, Trump has not signaled whether he will attend the proceedings or not. He has denounced the verdict in the lawsuit brought forward by New York Attorney General Letitia James as an act of “election interference” and has criticized Engoron for allegedly targeting him for his business successes. Trump’s legal team maintains that the judgment is unjust and should be overturned.
The lawyers representing Trump argue that certain claims should have been dismissed due to the expiration of the statute of limitations and assert that the government should not interfere with private business dealings. They have also raised concerns about the alleged bias displayed by Engoron throughout the case.
On the other side, state lawyers assert that there is substantial evidence supporting the original judgment and claim that Trump’s appeal is founded on baseless legal arguments that have been previously rejected. The arguments will be presented by D. John Sauer, who successfully handled Trump’s presidential immunity case in the past, and Judith Vale representing the Attorney General’s office.
In his ruling, Engoron concluded that Trump had inflated his net worth by billions of dollars on annual financial statements by overestimating the value of assets such as his golf courses, hotels, Mar-a-Lago estate, and the Trump Tower penthouse. The judgment includes a penalty of $363.9 million, which, with accrued interest, now totals over $489 million.
Trump posted a $175 million bond in April to prevent the state from seizing his assets while the appeal is ongoing. The bond ensures payment if the judgment stands, with the possibility of reimbursement if Trump emerges successful. The Appellate Division is expected to issue a ruling approximately a month after the arguments, which could potentially happen before Election Day.
Depending on the outcome, either party may opt to request the case be considered by the state’s highest court, the Court of Appeals. Trump has expressed his determination to pursue the legal battle all the way to the U.S. Supreme Court if necessary, demonstrating his commitment to fighting the verdict.