Trump files to overturn ‘egregious’ $454M civil fraud judgment that found he inflated wealth to fool banks
Donald Trump filed a notice of appeal of his $454 million civil fraud judgment, which found him guilty of inflating his wealth by billions to dupe banks and investors into helping him grow his real estate empire.
Trump, 77, filed the notice Monday with New York state requesting to overturn Justice Arthur Engoron’s Feb. 16 verdict by looking into whether the judge “committed errors of law and/or fact” and “acted in excess” of his jurisdiction.
“We trust that the Appellate Division will overturn this egregious fine and take the necessary steps to restore the public faith in New York’s legal system,” Trump attorney Alina Habba said in statement.
The former president has railed against the case brought by New York Attorney General Letitia James, calling it a political “witch hunt” since it was first brought against him in 2020.
After the verdict earlier in February, the president doubled down by calling the decision “election interference,” claiming the justice system had been made into “weaponization against a political opponent.”
James’ office declined to comment on the notice of appeal, which had been expected since the verdict was handed down.
Trump’s appeal does not halt his responsibility to pay the judgment. He has until March 25 to obtain a stay by putting up assets or cash covering what he owes for an appeal bond.
In lieu of that, the former president’s attorneys could also ask the appeals court to allow a stay without putting up assets.
The staggering judgment, which came after a grueling, three-month trial, threatens to gut the former president’s financial position and mar the image of a successful businessman that helped propel him into reality TV — and the White House.
The prosecution argued that between 2011 and 2021, Trump grossly overstated the value of a dozen real estate assets, including Trump Tower in Midtown and his prized Mar-a-Lago club in Florida, in order to secure larger loans from investors.
In one instance cited by the court, the former president’s business claimed his triplex in Trump Tower was 30,000 square feet, when in reality it is 11,000 square feet — and worth $327 million, about four times its valuation from four years earlier.
Engoron wrote in a pre-trial ruling that Trump appeared as if he lived in a “fantasy world” in his financial filings.
Trump and his co-defendants — including his sons Donald Jr. and Eric — were ordered to pay $364 million in total, but interest brought the total to about $450 million.
The ruling also barred the ex-president’s sons from conducting business in New York for two years.
With Post wires
