In a huge blow to Letitia James and Biden’s prosecutors, a New York Appeals Court threw out the massive civil fraud penalty against President Trump on Thursday.
The AP reported:
An appeals court has thrown out the massive civil fraud penalty against President Donald Trump, ruling Thursday in New York state’s lawsuit accusing him of exaggerating his wealth.
The decision came seven months after the Republican returned to the White House. A panel of five judges in New York’s mid-level Appellate Division said the verdict, which stood to cost Trump more than $515 million and rock his real estate empire, was “excessive.”
After finding that Trump engaged in fraud by flagrantly padding financial statements that went to lenders and insurers, Judge Arthur Engoron ordered him last year to pay $355 million in penalties. With interest, the sum has topped $515 million.
Marxist New York Attorney General Letitia James sought $370 million in ‘damages’ when there is no victim in this fraud case and she also sought to ban Trump and his sons from operating any businesses in New York. She accused Trump of inflating his assets and defrauding lenders and insurance companies.
Last year Judge Engoron ordered Trump to pay more than a $355 million fine and barred Trump “from serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years.”
Engoron claimed Trump and each of the defendants “participated in aiding and abetting the conspiracy to commit insurance fraud by their individual acts in falsifying business records and valuations, causing materially fraudulent SFCs to be intentionally submitted to insurance companies.”
Donald Trump Jr. and Eric Trump were also ordered to pay millions of dollars in fines.
Trump Org. CFO Allen Weisselberg was ordered to pay $1 million.
The $355 million judgment PLUS daily interest swelled to more than $500 million.
Letitia James even took the initial step to seize President Trump’s assets after he was unable to secure a bond or pay the outrageous judgement.
President Trump celebrated the win.
“A GREAT WIN FOR AMERICA!!!” Trump said on Truth Social.
“TOTAL VICTORY in the FAKE New York State Attorney General Letitia James Case! I greatly respect the fact that the Court had the Courage to throw out this unlawful and disgraceful Decision that was hurting Business all throughout New York State. Others were afraid to do business there. The amount, including Interest and Penalties, was over $550 Million Dollars. It was a Political Witch Hunt, in a business sense, the likes of which no one has ever seen before. This was a Case of Election Interference by the City and State trying to show, illegally, that I did things that were wrong when, in fact, everything I did was absolutely CORRECT and, even, PERFECT. Every single Dollar was thrown out, even the penalties imposed on us by the Corrupt Judge, one of the most overturned in History, Arthur Engoron. I wasn’t given a Jury and, during the course of the Trial, which lasted a long time, was not given one Ruling in my favor by this Political Hack, but worse than him, if that’s possible, was Letitia James, a Corrupt and Incompetent Attorney General who only brought this Case in order to hurt me politically. She is a Trump Deranged Lunatic! They made me bond the outrageous sum, which never happened before, and which cost me Millions of Dollars a month. It should have never been allowed to happen, and everyone knew it! Importantly, the Vote was 5 to 0. I am so honored by Justice David Friedman’s great words of wisdom, which should be read by everyone. I would also like to thank the Court for having the Courage to make this Decision, which is already going down as one of the worst business persecutions in the History of our Country. Sadly, there are other Cases against me that are equally disgraceful, including those headed up by Corrupt Judges, like Juan Merchan, whose daughter collected Millions of Dollars in Fees from Crooked Joe Biden and Kamala Harris, while her father shockingly REFUSED TO RECUSE himself from a vicious and corrupt trial, which is also under Appeal, one in which every Legal Pundit in New York said, “THERE WAS NO CASE!” — Even Editorial Boards said, “DO NOT DO THIS!” Judge Merchan gave me an unprecedented Gag Order, not letting me talk about him or his daughter, or the fact that the Appellate Judges thought he should not be doing the Case, but he did it anyway. Many Lawyers said that his daughter and him created the Greatest Conflict of Interest they had ever seen. Judge Lewis Kaplan, the other remaining Case, whose wife, family, and friends attended his two trials, is as mean and nasty as anyone I have ever met. That Case, also on Appeal, should also never have been brought, and he should be admonished for Abuse, and every other thing that can be thrown at a Corrupt Judge. He loved the publicity, and would not let us present the irrefutable evidence that we wanted to present. This Clinton appointed Judge should not be allowed to get away with this SCAM….” Trump said.
“These were all Political Trials in an effort to destroy my viability as a Presidential Candidate before, during, and after the Election. They were strongly coordinated with the Biden/Harris Campaign, and will go down in History as among the most Corrupt Cases ever brought. These two Cases are even more ridiculous than the Corrupt Letitia James Case, and will be found out to be so in the very near future. All of these Judges should be ashamed of themselves for allowing them to happen. They are Political Hacks who did everything possible to hurt me as a Candidate. This was an attack by the Biden/Harris Administration on their Political Opponent, ME. It is such an Honor to have withstood it, thrived, and even become President of the United States despite the horrible things that were done to me. I’d like to thank and congratulate my son Eric Trump, and all of the many people in the Trump Organization, that fought so strongly for Justice. My Legal Team refused to give up against heavy odds. This is a Great Day for New York City and State!” Trump said on Truth Social.
The post BREAKING: In Huge Blow to Letitia James, New York Appeals Courts Throws Out $515+ Million Civil Fraud Penalty Against Trump – Trump Responds appeared first on The Gateway Pundit.