Trump asks New York appeals court to throw out $454 million civil judgment
Source: CNN Politics
Published 9:38 PM EDT, Mon July 22, 2024
CNN — Lawyers for Donald Trump asked a New York appeals court Monday to throw out the $454 million judgment in his civil fraud trial, arguing that the monetary penalty was unconstitutional and that most of the case should have been barred because the conduct was too old.
The former president’s attorneys raised several other legal arguments they lost at the trial court-level, including that no bank or counterparty lost money on loans, saying the judge made reversal mistakes in his rulings.
The filings are Trump’s latest attempt to throw out the $454 million judgment levied by state Judge Arthur Engoron in February, who found Trump, two of his sons – Donald Trump Jr. and Eric Trump – and their real estate business liable for fraud. The New York attorney general’s office will file their opposition papers next month. The appeals court could take up the case as soon as September.
“The award of $464 million in a case with no victims, no proven injuries, and no losses is not remotely defensible,” Trump’s lawyers wrote. The additional $10 million relates to other defendants in the case. “The ‘actual harm inflicted’ is nil,” they argued. “Thus, any punitive award would result in a ratio that is virtually infinite. The award of $464 million in a case with no victims, no proven injuries, and no losses is not remotely defensible.”
Read more: https://www.cnn.com/2024/07/22/politics/trump-new-york-appeals-court-civil-judgement/index.html
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He may no longer own many of the buildings, but that's beside the point. He charges large fees to manage the buildings, plus his name is still on many of them. That is Chump's major source of income - the management fees. He's been using 2 sets of books to misrepresent his income to the government and lower his tax liability. Tish James proved in court that it was all fraudulently reported for over 20 years, maybe longer.
Whether he owns the buildings or not, he still owes tax on the income from those contracts. That's how it works. He does still own some of the buildings and he uses those expenses for tax write-offs even though he's not entitled. That's how a lot of the fraud happened. It took NYS so long to catch up that Chump believed he was getting away with it all these years.
Don't forget - he owns properties, companies and manages buildings in several other states including NJ, IL, FL and more.
