Appeals court tosses $515 million fraud judgement against Trump in NY fraud case

A five-judge panel of a New York appellate court on Thursday found that a $515 million fraud judgment against President Donald Trump was unconstitutional and violated the Eighth Amendment's prohibitions on excessive fines.

Judge Arthur Engoron originally imposed a $355 million penalty as part of New York Attorney General Letitia James's civil fraud case against the then-presidential candidate. Other interest assessments, led the figure to balloon to more than half of $1 billion by August, Newsmax reported.

James accused Trump of manipulating the value of his assets to secure favorable loan terms and lower insurance premiums. The president has denied any wrongdoing, though Engoron ruled for James in the bench trial.

The decision is a major win for Trump, who has largely fended off the myriad legal cases brought against him in the lead-up to the 2024 presidential election, save for Manhattan District Attorney Alvin Bragg's case over his falsification of business records.