Appeals court voids $500M Trump fraud penalty sought by New York AG Letitia James

An appellate court has overturned the $500 million civil fraud penalty against President Donald Trump in the case brought by New York Attorney General Letitia James. The New York Appellate Division ruled that the disgorgement was an excessive fine that violated the Eighth Amendment.

While the ruling leaves liability intact, it eliminates the massive financial penalty of $364 million plus interest, amounting to around $500 million. Trump celebrated the decision as a “total victory” and criticized James and the original trial judge, Arthur Engoron. James, on the other hand, claimed a win too, noting that the appeals court upheld findings of fraud and restrictions on Trump’s business practices.

The case has been a highly contentious one, with Justice David Friedman issuing a partial dissent. Friedman argued that James’ true aim was political and suggested that the entire case should be dismissed. He criticized James’ use of Section 63(12) of New York’s Executive Law, giving her broad power to pursue civil fraud claims.

Friedman contended that the case was unprecedented and politically motivated, giving James “essentially limitless power to prosecute her political enemies.” He argued that Trump’s business deals involved sophisticated parties who profited without harming the public, and he called for the dismissal of the complaint.

With the judges split on liability, the case is likely headed to New York’s highest court, the Court of Appeals. James has confirmed her intention to appeal the ruling in order to protect the rights and interests of New Yorkers.

James, a Democrat elected attorney general in 2018, has long targeted Trump. The Justice Department has also opened a grand jury investigation into James and issued subpoenas tied to the civil fraud case against Trump. James has alleged that Trump is using the federal government to go after her politically.

Overall, the legal battle between Trump and James continues to unfold, with both sides claiming victories and vowing to fight on. The outcome of the case will have significant implications for both Trump’s business interests and James’ political future. Stay tuned for further developments in this high-profile legal saga. the perspective of a young entrepreneur who has just launched their first business:

As a young entrepreneur who has just launched my first business, I can confidently say that the journey so far has been both exhilarating and challenging. From coming up with the initial idea to finally seeing my product on the market, every step of the way has been filled with excitement and uncertainty.

One of the biggest challenges I faced was figuring out how to fund my business. As a recent college graduate with little savings, I had to get creative with my financing options. I reached out to friends and family for investments, applied for small business loans, and even took on some freelance work to cover my expenses. It was a stressful time, but I knew that in order to succeed, I had to be willing to take risks and make sacrifices.

Once I had secured the funding I needed, the next hurdle was figuring out how to market and promote my product. With limited resources, I had to rely on social media and word-of-mouth advertising to get the word out. It was a slow process, but as more people started to discover my business, I began to see the fruits of my labor pay off.

Now that my business is up and running, I am constantly learning and growing as an entrepreneur. Every day brings new challenges and opportunities, and I am grateful for the chance to turn my passion into a successful venture. While the road ahead may still be uncertain, I am confident that with hard work and determination, I can continue to build my business and achieve my goals.

To all the aspiring entrepreneurs out there, I say this: don’t be afraid to take that first step. The journey may be tough, but the rewards are worth it. Believe in yourself, stay focused on your vision, and never give up on your dreams. Who knows, you may just be the next success story in the world of business.