Appeal challenges severe sanctions that pose significant threat to Trump's financial reserves
Donald Trump has appealed his $454 million civil fraud conviction in New York, challenging the ruling that accused him of misrepresenting his wealth while building the real estate empire that propelled him to fame and the presidency. The Guardian reported.
Trump's legal team filed notices of appeal on Monday, urging the state's mid-level appeals court to overturn Judge Arthur Engoron's Feb. 16 verdict in a lawsuit brought by New York Attorney General Letitia James. The appeal challenges the high sanctions that pose a significant threat to Trump's financial reserves.
In appeal papers, Trump's lawyers state their intention to have the appeals court examine whether Judge Engoron “made errors of law and/or fact” and whether he abused his discretion or exceeded his jurisdiction.
Notably, the appeal did not address whether Trump seeks a stay of collection of the judgment by contributing funds or assets.
Judge Engoron determined that Trump and his company participated in a scheme to deceive banks and insurers by inflating his wealth on financial statements. The ruling imposed severe limitations on the Trump Organization's business activities.
The appeal ensures that the legal battle over Trump's business practices continues, coinciding with the presidential primary season and beyond, as he seeks the Republican nomination for president.
If upheld, the ruling could force Trump to part with a substantial portion of his fortune, with interest accruing daily until payment is made. Trump, who claims to have a net worth in the billions, faces possible asset seizures if he is unable to comply with the ruling.
The appeal is part of Trump's ongoing legal challenges, including criminal charges in multiple jurisdictions and other civil cases, adding complexity to his political ambitions.
