A panel of five judges in New York’s Appellate Division ruled Thursday, August 21, that a prior judgement against Donald Trump was “excessive.” After finding that Trump had engaged in fraud by exaggerating his wealth to lenders and insurers, Judge Arthur Engoron ordered him to pay $355 million in penalties last year. With interest, that now totals $515 million. The appeals court on Thursday dismissed the penalty entirely, though the panel was split on the merits of the case itself.
“While the injunctive relief ordered by the court is well crafted to curb defendants’ business culture, the court’s disgorgement order, which directs that defendants pay nearly half a billion dollars to the State of New York, is an excessive fine that violates the Eighth Amendment of the United States Constitution,” Judges Dianne T. Renwick and Peter H. Moulton wrote in one of several opinions.
The appeals process on this case was abnormally long, taking nearly 11 months, whereas such matters are usually decided in a matter of weeks or up to a few months.
