Court Nixes ‘Excessive’ Penalty but Bans Trump, Sons from Corporate Leadership
A New York appeals court has thrown out the massive financial penalty imposed on President Donald Trump, sparing him from a fine that, with interest, had exceeded $500 million. The court, however, narrowly upheld the finding that Trump engaged in fraud by exaggerating his wealth for decades.
In a sharply divided decision, a panel of five judges in the Appellate Division ruled that the original $355 million fine was “excessive” and a violation of the Eighth Amendment of the U.S. Constitution. This ruling comes seven months after the Republican’s return to the White House.
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While the court dismissed the financial penalty in its entirety, it upheld other punishments, including a ban on Trump and his two eldest sons from serving in corporate leadership for a few years.
Trump took to social media to claim “total victory,” stating he “greatly respect[s] the fact that the Court had the Courage to throw out this unlawful and disgraceful Decision.” Meanwhile, New York Attorney General Letitia James focused on the part of the ruling that went in her favor, noting that “yet another court has ruled that the president violated the law.”
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The divided panel’s ruling included multiple concurring and dissenting opinions, with some judges criticizing James for bringing the lawsuit, suggesting it was for “political hygiene” rather than “market hygiene.” This decision leaves a pathway for an appeal to the state’s highest court.
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