Former President Donald Trump on Wednesday appealed a ruling by a New York judge that concluded he and his family-run company fraudulently inflated the value of several properties and his net worth by about $2.2 billion. Trump filed the appeal with the Appellate Division, a mid-level appellate court in Manhattan, as a civil trial began in the case brought by Letitia James, the New York Attorney General, on Monday to determine remaining claims and penalties.
Letitia accuses the former president, along with his three adult sons and the Trump Organization, of lying for a decade about asset values in a "stunning fraud" aimed at securing better terms on loans and insurance. On September 26, Judge Arthur Engoron of the New York State Court in Manhattan found "compelling evidence" that Trump inflated his wealth estimates. The judge stated that Trump overvalued properties such as Mar-a-Lago resort in Florida, his apartment in Trump Tower in Manhattan, as well as several office buildings and golf courses.
Engoron ordered the cancellation of licenses that allowed several Trump companies, including the Trump Organization, to operate in New York. Letitia James seeks to fine Trump at least $250 million and wants to bar Trump and his sons Donald Jr. and Eric from running businesses in New York, in addition to prohibiting Trump and his organization from engaging in commercial real estate for five years.
Trump is vying for the Republican presidential nomination for 2024 and has maintained his lead in the race. Following Engoron’s decision, Trump described the fraud allegations against him as "ridiculous and untrue," calling the judge "deranged." Trump has also pleaded not guilty to other charges in four indictments, which included allegations of attempting to overturn the 2020 presidential election, mishandling classified documents, and secretly paying hush money to a pornographic film star.
