Lawyers for former President Donald Trump and New York Attorney General Letitia James will be facing off at a state appeals court over a $478 million civil fraud judgment against Trump. The judgment was handed down after Trump was accused of misleading lenders with overvaluations of his assets. Trump’s legal team argues that the judgment should be overturned because James brought the lawsuit too late and because Trump undervalued his assets, rather than overvaluing them.
Trump’s team also argues that his alleged actions did not harm anyone, as the loans in question were repaid to Deutsche Bank. However, James’ office maintains that the fraud statute is meant to prevent future harm, not just address past harm. Trump also claims that the lawsuit was filed too late for most of the allegations, but the trial court ruled otherwise.
If Trump loses his appeal, James could start seizing his assets, including real estate in Manhattan and potentially assets in other jurisdictions. She could redirect rental payments from Trump Organization properties and freeze bank accounts in New York to pay off the judgment.
The total judgment against Trump and his co-defendants has grown to over $489 million with interest, and the appeals court will be considering Trump’s arguments for overturning or reducing the judgment.
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