A US court on Thursday dismissed a $464 million civil penalty against President Donald Trump, initially imposed for fraudulently inflating his net worth, deeming the amount ‘excessive’ while still upholding the judgment.
In February 2024, Judge Arthur Engoron ruled against Trump, ordering him to pay $464 million, with interest. Additionally, his sons, Eric and Don Jr., were each ordered to pay over $4 million.
The court determined that Trump and his company had illegally exaggerated his wealth and manipulated property valuations to secure favorable bank loans or insurance terms.
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On Thursday, New York Supreme Court’s Appellate Division maintained the guilty verdict but deemed the fine amount ‘excessive,’ violating the Eighth Amendment of the US Constitution.
State Attorney General Letitia James, who initiated the case, may appeal to the New York Court of Appeals.
After the initial ruling, Trump sought to contest both the civil judgment and the penalty’s amount and conditions, which continue to accumulate interest during his appeal.
He has consistently criticized the case and penalty as politically driven.
