A New York appeals court overturned on Thursday the nearly $500 million fine imposed on former President Donald Trump for fraud, considering the amount to be “excessive” and potentially in violation of the Constitution.
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The case, driven by the Attorney General of New York, Letitia James, resulted in a ruling in February 2024 that ordered Trump and his companies to pay over 350 million dollars in fines and close to 150 million additional in interest, as recalled by CNN.
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The court, which ruled by majority, held that the precautionary measures taken were “well crafted to contain the business culture of the accused”, but concluded that the amount of the sanction exceeded reasonable limits.
The decision does not exempt Trump from the civil fraud conviction, although the former president celebrated what he called a “total victory”. He claimed that the fine actually amounted to “more than 550 million dollars” and argued that the original ruling had already damaged the investment in New York. “Everything I did was absolutely correct,” he defended.
Trump once again framed the case as a supposed “political witch hunt” and directly criticized prosecutor James. He also claimed that other legal proceedings against him are “equally disgraceful” and accused the Democrats of using the justice system to harm his presidential candidacy. “It is a great honor to have withstood, thrived, and even reached the Presidency of the United States despite the atrocities they committed against me,” he emphasized.