New York: U.S. President Donald Trump scored a major legal win after an appellate court overturned a $515 million penalty in a high-profile business fraud case.
The New York trial court had earlier ordered Trump to pay $355 million, which swelled to over half a billion dollars with interest. The appellate judges struck down the penalty, calling it “excessive”, though they affirmed that Trump was responsible for fraudulently inflating his assets to gain advantages from banks, insurers, and other financial institutions.
The decision comes after nearly 11 months of courtroom battles, following Trump’s appeal against the February 2024 ruling that penalized him and the Trump Organization. The appellate court based its judgment on the Eighth Amendment, which bars excessive fines and punishments.
Trump hailed the verdict as a “complete victory”, while the New York Attorney General’s Office announced plans to challenge the ruling through a review petition.
