New York state lawyers have filed paperwork urging an appeals court to uphold Donald Trump's nearly $500 million civil fraud judgment. They argue that there is overwhelming evidence to support a judge's finding that the former president lied about his wealth for years as he built his real estate empire.
The New York Attorney General's office stated that Trump's appeal is filled with meritless legal arguments and ignores volumes of trial evidence showing fraud and illegality on a large scale. The appeal is set to be heard on September 26, just before Election Day.
If the judgment is upheld, it could significantly impact Trump's personal wealth, disrupt his Trump Organization, and damage his reputation as a successful businessman. As of now, the Trump defendants owe more than $485 million, including accrued interest.
Trump and his lawyers are arguing that the verdict was erroneous and egregious, and they are seeking to have it overturned. The Appellate Division could either uphold the verdict, reduce the penalty, or overturn the decision entirely.
The state lawyers maintain that the statute of limitations was applied correctly and that the attorney general has the authority to take action against fraudulent business conduct. Trump denies any wrongdoing and claims that he is being unfairly targeted.
In addition to the civil fraud judgment, Trump is facing other legal challenges, including a hush money criminal case and a debate with his Democratic opponent scheduled for September 10.
The judge in the civil fraud case found that Trump inflated his net worth on financial statements by as much as $2.2 billion a year. The ruling includes a $355 million penalty and strict limitations on the Trump Organization's business activities.
If the judgment stands, Trump will be required to pay $485.2 million, including accrued interest. His lawyers have requested a postponement of the sentencing until after Election Day.
Trump maintains that he is worth several billion dollars and has cash reserves of $400 million, along with other investments. The attorney general has indicated that she may seek to seize some of his assets if he is unable to pay.
