New York court set to hear Donald Trump’s appeal of $489 million civil fraud verdict

NEW YORK (AP) — A New York appeals court is set to hear arguments from Donald Trump in his fight to overturn a civil fraud judgment that could disrupt his real estate empire and cost him nearly half a billion dollars.

The former president and current Republican candidate has given no indication he plans to attend Thursday’s hearing in Manhattan. Trump’s lawyers are asking the state’s intermediate appeals court to overturn a judge’s finding that he deceived banks, insurers and others for years by lying about his wealth in documents used to cut deals and secure loans. They argue that Judge Arthur Engoron’s verdict was egregious and should be overturned.

The office of New York Attorney General Letitia James, who sued Trump on behalf of the state, argues that Engoron’s decision is supported by overwhelming evidence.

Here are some things to know about Trump’s appeal:

What is this call about?

Engoron estimated that Trump had inflated his fortune by billions of dollars by significantly overstating his assets in his annual financial statements. Those assets include golf courses and hotels bearing his name, his Mar-a-Lago estate in Florida and his penthouse at Trump Tower in Manhattan.

The judge delivered his verdict after a two-month trial that included testimony from 40 witnesses, including Trump. I have decided the case because state law does not allow for a jury in such trials and neither side requested one.

Engoron found Trump, his company and his executives, including his sons Eric and Donald Jr., guilty of falsifying documents, conspiring to defraud insurers and issuing false financial statements. He also found former Trump Organization executives Allen Weisselberg and Jeffrey McConney liable for insurance fraud.

Trump and his co-defendants also challenged Engoron’s decision to rule, before testimony even began, 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 penalties, a sum that has since grown with interest to more than $489 million.

The judge also placed the Trump Organization under independent monitoring for at least three years and ordered other sanctions, most of which have been pending appeal.

When will Trump’s call be heard?

Oral arguments are scheduled for noon Thursday in the Appellate Division of the First Judicial Department in Manhattan. This mid-level appellate court sits one level above the Engoron District Court in the New York state court system.

A panel of five judges will hear the case. Each side will have 15 minutes to present their case. The hearing is also expected to be broadcast live.

Trump has chosen D. John Sauer, a former Missouri solicitor general, Rhodes Scholar and Supreme Court clerk to the late Justice Antonin Scalia, to argue his case for presidential immunity before the US Supreme Court.

New York Assistant Attorney General Judith Vale will defend James’ office.

Trump’s lawyers have gone to the appellate division at least 10 times to challenge Engoron’s previous decisions. That included an unsuccessful attempt to overturn a gag order and to reverse Engoron’s decision to fine Trump $15,000 for posting false and derogatory information about the judge’s law clerk on social media.

What is Trump’s argument?

Trump and his lawyers say the sanctions he received were grossly unfair, that some of the allegations should have been time-barred and that the state should not control private business transactions. They also say James improperly prosecuted Trump under a consumer protection law normally used against companies that rip off their customers.

Trump and his lawyers have repeatedly complained about Engoron’s handling of the case, accusing the judge of tangible and overwhelming bias and of overstepping his authority.

Trump says he didn’t lie about his wealth or the value of his assets, and that no one was hurt by his actions. He has denounced the verdict as election interference and the use of a weapon against a political opponent. He complained that he was being punished for building a perfect business, a large treasury, important buildings, all the best. James and Engoron are Democrats.

Trump’s lawyers argue that upholding the ruling would give James unlimited power to target anyone she wants, including her self-proclaimed political opponents.

What do the state’s lawyers say?

James’ office argues that Trump’s appeal is flooded with baseless legal arguments and ignores volumes of evidence showing that he engaged in fraud and illegal acts on an immense scale.

On appeal, the defendants tellingly ignored nearly all of their disappointments, Deputy Solicitor General Daniel Magy wrote in a court filing.

Trump, his company and its top executives, including Eric and Donald Trump Jr., created and used financial statements filled with egregious misrepresentations and omissions to maintain more than half a billion dollars worth of loans and generate more than $360 million in ill-gotten profits , Magy wrote.

Trump inflated his net worth in financial statements by as much as $800 million, to $2.2 billion a year, the state alleged.

Magy said the statute of limitations was applied correctly and that state law allows the state attorney general to take action against fraudulent or illegal business conduct, whether it targets consumers, small businesses, large corporations or other individuals or entities.

Has Trump ever had to pay anything?

In April, Trump posted a $175 million bond 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 that happens, Trump and his co-defendants will have to pay the state the full amount, plus interest, which amounts to $114,553 per day.

Normally, an appellant must post the full amount to prevent recovery. After Trump’s lawyers complained that it was nearly impossible to obtain such a large bond, the Appellate Division said it would allow him to post a $175 million bond instead.

What happens next?

The appellate division typically rules about a month after the arguments, meaning a decision could be made before Election Day. The court could either uphold the verdict, reduce or modify the sentence, or overturn Engoron’s verdict altogether.

If either side is unhappy with the outcome, it can ask the state’s highest court, the Court of Appeals, to consider taking up the case. Trump has vowed to challenge the verdict all the way to the US Supreme Court if necessary.

Trump claims he has billions of dollars. James said that if Trump’s appeals fail and he is unable to pay, she will seek to seize some of his assets.

Since this is a civil matter, there is no possibility of jail time.

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