NEW YORK (AP) — As Donald Trump nears the final stretch of his race for the White House, the former president’s lawyers are heading to a New York appeals court to overturn a civil fraud judgment that could cost him nearly $500 million.
The Republican presidential candidate has given no indication that he plans to attend oral arguments Thursday before a five-judge panel in the Manhattan Mid-Level Appellate Court. The hearing is scheduled to begin at noon and is expected to be streamed online.
Trump is asking the court to overturn Judge Arthur Engoron’s February ruling that he lied about his wealth on paperwork he gave to banks, insurers and others to close deals and secure loans. The ruling cuts to the core of Trump’s wealthy, businessman persona.
Trump has criticized the outcome of New York Attorney General Letitia James’ lawsuit against him as “election interference” and accused Engoron of punishing him for “building a perfect company.” His lawyers argue the verdict was “grossly unfair” and should be overturned.
They argue that some of the charges should have been time-barred and that the state should not be overseeing private business transactions. They have also complained about Engoron’s handling of the case, accusing the judge of “palpable and overwhelming” bias and overstepping his authority.
Attorneys for the state argue that there is sufficient evidence to support the ruling and that Trump’s appeal is based on baseless legal arguments, many of which Engoron and the Appellate Division have previously rejected.
D. John Sauer, who successfully argued Trump’s presidential immunity case before the U.S. Supreme Court, will argue on his behalf. New York Deputy Attorney General Judith Vale will argue on behalf of James’ office.
After a two-and-a-half-month trial, Engoron ruled that Trump had inflated his fortune by billions of dollars in his annual financial statements by overvaluing assets such as his golf courses and hotels, the Mar-a-Lago estate in Florida and the Trump Tower penthouse in Manhattan.
Trump and his co-defendants are also challenging Engoron’s decision to rule, before testimony had even begun, that the state had proven that Trump fraudulently inflated his financial statements. The judge ordered Trump and the other defendants to pay $363.9 million in fines — a sum that has now grown to more than $489 million with interest.
Trump posted a $175 million bond in April to halt collection of the judgment and prevent the state from seizing his assets while he appeals. The bond guarantees payment if the judgment is upheld. If Trump wins, he will get the money back.
The Appellate Division typically rules about a month after arguments, meaning a decision could come before Election Day. The court can affirm the conviction, reduce or modify the sentence, or vacate Engoron’s conviction entirely.
If either side doesn’t like the outcome, it can ask the state’s highest court, the Court of Appeals, to take the case. Trump has vowed to challenge the ruling “all the way to the U.S. Supreme Court if necessary.”
