Former President Donald Trump is seeking to overturn a nearly $500 million civil fraud judgment in New York that he claims threatens his personal finances as he campaigns for the presidency. Trump's lawyers filed paperwork with a New York appeals court, arguing that the ruling by Manhattan Judge Arthur Engoron, which found Trump had lied about his wealth to banks and insurers, was 'erroneous' and 'egregious.'
Trump's legal team contends that the lawsuit brought by New York Attorney General Letitia James should have been dismissed, citing issues with the statute of limitations and lack of harm caused by Trump's alleged fraud. They also raised concerns about the potential for political targeting by James if the ruling is upheld.
Trump posted a $175 million bond to halt collection of the judgment while he appeals. The Appellate Court is set to hear oral arguments in late September.
Trump's legal battles have intensified in recent months, with victories in some cases, including a Supreme Court ruling granting him immunity from criminal prosecution for official acts while in office. However, the civil fraud case in New York remains a significant challenge for Trump, with potential financial implications.
If the judgment is upheld, Trump faces a penalty of over $470 million, which continues to accrue interest. The ruling also imposes restrictions on Trump's business operations, including court-appointed oversight for at least three years.
Trump and his lawyers have criticized Engoron's handling of the trial, alleging bias and procedural errors. They have vowed to continue fighting the ruling through the appeals process, with the possibility of escalating the case to the state's highest court if necessary.
Despite the legal setbacks, Trump remains defiant, maintaining his wealth and business success while denouncing the legal challenges as politically motivated. The outcome of the appeal will have significant implications for Trump's financial future and political ambitions.
