Former President Trump’s lawyers urged an appeals court on Monday to throw out the nearly half-billion-dollar judgment against him in his New York civil fraud case, calling it an “unauthorized and reckless power grab.” precedents” by the state attorney general.
The $454 million judgment against Trump, after a state judge found he altered his net worth in key financial statements to receive tax and insurance benefits, dealt a severe blow to his family’s business empire and is expected to drain his personal funds while seeking a second term. at the White House.
“Based on the ruling in this case, no company will want to come to New York to do business, and many companies are fleeing,” Trump’s lawyers wrote in documents filed with the state’s mid-level appeals court. “The economics of this decision are a disaster for New York. The NYAG has used the statute in a way never seen before.”
The former president’s appeal arguments echoed those he made at trial, including that the banks wanted to work with the Trump Organization, did their own due diligence and found no fraud. Trump’s lawyers also argued that there were “no casualties or losses” in the company’s business, describing the former president as “one of the most visionary and iconic real estate developers in American history.”
“If appellants’ conduct constituted ‘fraud’ under § 63(12), then that word has no meaning, and the NYAG’s power to seize and destroy private companies is unlimited – and without standards,” the lawyers wrote.
Trump’s legal team has on several occasions taken direct aim at New York Attorney General Letitia James, suggesting that she campaigned on a promise to “get Trump” and that, if the ruling is upheld, she would have “unlimited power to strike whoever she wants.” including his self-appointed political opponents.”
The lawyers also castigated Judge Arthur Engoron, claiming he “inexplicably rewarded” the attorney general’s “illegal” efforts and was rejected by higher courts with “alarming frequency.”
At trial, both James and the judge were frequent targets of Trump, his lawyers and his presidential campaign, which often clashed with their court appearances. When Trump took the witness stand in November, he derided them as “frauds,” “political hacks” and “Trump haters,” while repeating the familiar refrain that his legal issues are “political witch hunts” designed to keep him outside the White House. .
In addition to the multimillion-dollar judgment, Trump was banned from holding leadership positions in any New York company for three years. Before the trial began, Engoron found Trump, the Trump Organization and top executives – including his sons Donald Trump Jr. and Eric Trump – responsible for fraud. Executives also face penalties.
In a statement, Trump lawyer Chris Kise called the former president “a visionary and iconic real estate titan who was baselessly targeted and persecuted” by James. He also condemned the trial as “draconian, illegal and unconstitutional”.
“During 44 days of trial, not one witness, not one complaint, not one victim supported Letitia James’ fabricated allegations of ‘fraud,’” Kise said. “To the contrary, the evidence established that President Trump’s net worth far exceeded what was reported in his financial statements and the sophisticated bankers involved continued and enjoyed a long and satisfactory business relationship with him as a valued client.”
A spokesperson for the attorney general’s office said Trump’s appeal arguments repeat claims that he was “already sanctioned and fined.”
“We won this case based on the facts and the law and are confident we will prevail on appeal,” the spokesperson said.
Trump secured a $175 million bond earlier this year that ensures James’ office cannot collect the multimillion-dollar judgment against the defendants while they appeal and suspend other penalties. The bail amount was originally set at the full amount of the sentence, but an appeals panel agreed to reduce the price when his lawyers said it would be “impossible” for the former president to secure full bail.
This story originally appeared on thehill.com read the full story
