Former President Donald Trump and New York Attorney General Letitia James’ office will face off in a state appeals court over a civil fraud judgment against Trump totaling more than $478 million with interest. The judgment was based on Trump’s alleged misleading of lenders by overvaluing his assets. Trump’s legal team argues that the judgment should be overturned because James brought the lawsuit too late and Trump undervalued his assets.
Trump contends that he didn’t harm anyone with his actions and that the statute for fraud shouldn’t apply if no victims were affected. He also argues that James filed the lawsuit past the correct time limit, which could eliminate a large portion of the judgment. However, the court ruled that the time limit was extended due to Trump’s continued submission of fraudulent financial statements.
If Trump loses his appeal and fails to pay the judgment, James could seize his assets, including real estate in Manhattan, rental payments from tenants in Trump Organization properties, and freeze his bank accounts in New York. The judgment has grown to over $489 million with interest, and Trump’s appeal bond was reduced to $175 million. The case highlights the ongoing legal battles faced by Trump post-presidency.
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