The previous judge decided that Trump significantly overstated the value of Trump Organization's assets to obtain better credit conditions. As a result, he ordered him to pay a fine of $ 355 million, which, together with interest, exceeded $ 500 million. The judge also banned Trump as a director in the company and taking loans from banks in the state for three years.
Judges of the New York Supreme Court Faculty said that although Trump was responsible for fraud, the fine was disproportionate and violated the constitutional guarantees protecting citizens against excessively harsh penalties.
Judgment
The five -member judge of the Court of Appeal was not unanimous in the assessment of the legitimacy of the original claim, which was lodged by the Prosecutor General of New York, Letitia James. According to her accusation, Trump and his two adults were to commit “persistent and multiple frauds” as part of the activities of Trump Organization.
Ultimately, the decision was made to repeal the fine. – Today this court thwarts the attempt to destroy his business – wrote the judge, who justified the verdict.
