NY state urges appeals court to uphold Donald Trump’s nearly $500 million civil fraud judgment

NEW YORK — New York state lawyers urged an appeals court late Wednesday to uphold Donald Trump’s nearly $500 million civil fraud judgment, arguing there’s “overwhelming evidence” to support a judge’s finding that the former president lied for years about his wealth as he built his real estate empire. In paperwork filed ahead of oral arguments next month, New York Attorney General Letitia James’ office said the current Republican nominee’s appeal is awash in “meritless legal arguments” and ignores volumes of trial evidence showing that he and his co-defendants engaged in “fraud and illegality on an immense scale.” “On appeal, defendants tellingly ignore almost all their deceptions,” Assistant Solicitor General Daniel S. Magy wrote in a 168-page submission to the state’s mid-level appeals court known as the Appellate Division. Trump, his company and top executives including his sons Eric and Donald Trump Jr. “created and used financial statements rife with blatant misrepresentations and omissions to maintain loans worth more than half a billion dollars and to generate over $360 million in ill-gotten profits,” Magy wrote. Trump is asking the Appellate Division to overturn Manhattan Judge Arthur Engoron’s Feb. 16 finding that he lied to banks, insurers and others about his wealth on financial statements used to secure loans and make deals. He and his lawyers argue the verdict was “erroneous” and “egregious.” The Appellate Division could either uphold Engoron’s verdict, reduce or modify the penalty or overturn the decision entirely. If Trump is unsuccessful at the Appellate Division, he can ask the state’s highest court, the Court of Appeals, to consider taking his case. Trump and his lawyers contend the case should never have gone to trial, the statute of limitations barred some allegations, and the state shouldn’t be policing private business transactions. In their response Wednesday, state lawyers said the statute of limitations was applied properly and that state law authorizes the state’s attorney general to take action against fraudulent or illegal business conduct, “regardless of whether it targets consumers, small businesses, large corporations, or other individuals or entities.” Wednesday’s scheduling of oral arguments adds to a busy September for Trump, as he campaigns to retake the White House while navigating the aftermath of multiple courtroom losses. On Sept. 16, the judge in Trump’s hush money criminal case is expected to rule on a defense request to overturn his felony conviction and dismiss the case on presidential immunity grounds. Trump inflated his net worth on the financial statements by as much as $800 million to $2.2 billion a year, state lawyers said. The judge ordered Trump to pay $355 million in penalties, accounting for what he deemed “ill-gotten gains” derived from his inflated financial statements, including lower loan interest rates and profits from projects he wouldn’t have otherwise been able to finish. In a filing last month, Trump’s lawyers said that if Engoron’s decision is upheld, it would bestow James with “limitless power” to target anyone she desires, including her self-described political opponents. – This Summarize was created by Neural News AI (V1). Source: https://www.nbcnews.com/politics/donald-trump/ny-state-urges-appeals-court-uphold-donald-trumps-nearly-500-million-c-rcna167756