Lawyers for former President Donald Trump and the New York Attorney General Letitia James’ office are set to battle in a state appeals court over a $478 million civil fraud judgment against Trump. The judgment was handed down by trial Judge Arthur Engoron, who found that Trump had misled lenders with inflated asset values.
Trump’s legal team argues that James brought her lawsuit too late and that the financial statements Trump provided were undervalued, not overvalued as alleged. Trump also claims that the statute he is accused of violating is meant to prevent future harm, not address past harm.
If Trump loses his appeal, James could begin seizing his assets, including real estate in Manhattan, bank accounts, and rental payments from Trump Organization properties. The judgment would become a lien on Trump’s Manhattan properties, but James could also pursue properties in other jurisdictions.
Despite facing four criminal cases, Trump has shown a strong interest in the lawsuit, attending many days of the trial and attacking Engoron on social media. The judgment against Trump and his co-defendants has now grown to over $489 million with interest. The appeals court reduced Trump’s appeal bond from $478 million to $175 million, which he posted in April to prevent asset seizure during the appeal process.
Photo credit
www.usatoday.com