A New York appeals court is set to hear arguments in Donald Trump's fight to overturn a civil fraud judgment that could disrupt his real estate empire and cost him close to a half-billion dollars. The former president and current Republican nominee is asking the state's intermediate appellate court to nullify a judge's findings that he deceived banks, insurers, and others for years by lying about his wealth on paperwork used to make deals and secure loans.
What is this appeal about?
The appeal revolves around Judge Arthur Engoron's ruling that Trump inflated his net worth by billions of dollars by overvaluing his assets on financial statements. The judge found Trump, his company, and executives liable for falsifying records, conspiring to defraud insurers, and issuing false financial statements. The penalties imposed on Trump amount to over $489 million, including fines and interest.
When is Trump's appeal being heard?
Oral arguments are scheduled for noon on Thursday in the Appellate Division, First Judicial Department in Manhattan. A five-judge panel will hear the case, with each side allotted 15 minutes to argue. Trump has appointed a seasoned lawyer to represent him in the appeal.
What is Trump's argument?
Trump and his legal team argue that the penalties imposed on him are unjust, some allegations should have been barred by the statute of limitations, and the state should not interfere in private business transactions. They also claim bias on the part of Judge Engoron and challenge the basis of the lawsuit filed by the New York Attorney General.
What do the state's lawyers say?
The state's lawyers argue that Trump's appeal is filled with meritless legal arguments and that there is substantial evidence of fraud and illegality on Trump's part. They contend that Trump inflated his net worth significantly on financial statements and engaged in fraudulent activities to maintain loans and generate profits.
Has Trump had to pay anything yet?
Trump posted a $175 million bond in April to halt collection of the judgment while he appeals. If the judgment is upheld, Trump and his co-defendants will have to pay the full sum, plus accruing interest.
What happens next?
The Appellate Division is expected to rule about a month after arguments. Depending on the outcome, either side may seek further review from the state's highest court. Trump has expressed his intention to take the case to the U.S. Supreme Court if necessary.
