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submitted 16 hours ago by Pro@reddthat.com to c/usa@midwest.social

cross-posted from: https://reddthat.com/post/48437950

A New York state appeals court on Thursday overturned as overly punitive a nearly $500 million civil penalty against President Donald Trump, but left in place a finding of fraud based on records that inflated the value of Trump’s business holdings.

A five-judge panel of the New York Appellate Division for the First Department disagreed over aspects of the case and the trial court’s ruling that awarded $465 million to the state after finding Trump liable for fraud, issuing three opinions that spanned more than 300 pages.

Two judges concluded that the finding of liability against Trump was correct, two said errors in the trial court meant a new trial should be held, and one judge said the case was wrongly decided.

Still, all five judges agreed the penalty was excessive, and the two judges who’d called for a retrial joined the two upholding the decision “for the sole purpose of ensuring finality, thereby affording the parties a path for appeal” to the state’s highest court, according to the decision.

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[-] salty_chief@lemmy.world 1 points 9 hours ago

I get that but banks just taking the word of a person doesn’t make sense. Like I can’t say my house is worth 5x its worth.

[-] Alexstarfire@lemmy.world 1 points 3 hours ago* (last edited 3 hours ago)

I decided to go look up some specifics.

I can't really speak for why banks did what they did. I'm guessing you're just an average person. You and I are very different from people like Trump when it comes to banks. He's been buy and selling properties for decades and has taken out many loans to do so. In the end, the bank seems to not have done their due diligence and just trusted the numbers the Trump Organization sent them, likely assuming they were accurate since they had been before.

At least, that's what my cursory digging has uncovered. He has so much fraud going on it's hard for me to tell what goes with this specific case.

this post was submitted on 22 Aug 2025
16 points (100.0% liked)

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