Former President Donald Trump is fighting a civil fraud judgment that could cost him nearly $500 million, with judges in a New York appeals court appearing open to possibly reversing or reducing the penalty. The judgment stems from a ruling that Trump lied about his wealth on paperwork given to banks and others. Trump’s lawyers argued that the lawsuit stretches consumer protection laws and hinders business transactions, while the state contends there is a public interest in holding Trump accountable for his alleged misrepresentations.
During oral arguments, the judges questioned both sides’ arguments while expressing concerns about the hefty penalty imposed on Trump. The Appellate Division is expected to rule on the case in the coming weeks, potentially before Election Day. The court could uphold the verdict, reduce the penalty, or overturn it entirely, depending on the majority opinion of the five appellate judges who heard the case.
Trump posted a $175 million bond to halt the collection of the judgment while he appeals, with the guarantee of payment if the verdict is upheld. Both sides have the option to appeal to the state’s highest court, the Court of Appeals, if they are not satisfied with the Appellate Division’s decision. Trump has vowed to fight the verdict all the way to the U.S. Supreme Court if necessary.
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