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Is he facing a $478 million fraud bill?


An upcoming state appeals court hearing will see lawyers for former President Donald Trump and New York Attorney General Letitia James’ office facing off over a $478 million civil fraud judgment against Trump. The judgment was handed down by trial Judge Arthur Engoron, who found that Trump had misled lenders with overvaluations of his assets. Trump’s legal team argues that the judgment should be overturned because James’ lawsuit was brought too late and that Trump’s net worth was undervalued, not overvalued as alleged.

Trump’s main argument on appeal is that no harm was caused by the alleged fraud, as the loans in question were repaid in full. James’ office contends that the fraud statute is designed to prevent future harm and protect the marketplace. Trump also argues that James brought her lawsuit too late for most allegations, but Engoron ruled that the time limit was extended due to ongoing fraudulent activity and agreements to extend the filing deadline.

If Trump loses the appeal and fails to pay the full judgment, James could seize his assets, including his real estate in Manhattan and elsewhere. She could also redirect rental payments from Trump-owned properties and freeze his bank accounts in New York. The total judgment against Trump and his co-defendants has now grown to over $489 million with interest.

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www.usatoday.com

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