The New York Appellate Division in Manhattan had previously been skeptical of the case brought by New York AG Letitia James and the ruling by Manhattan Supreme Court Justice Arthur Engoron. There were no victims in the case.
Engoron levied a $464 million judgment against President Trump and his companies. With interest accruing, the end result was a ridiculous fine in excess of $500 million and the removal of Eric Trump and Donald Trump Jr from the company.
The appeals court in Manhattan has thrown out the $500 million punitive award, and suspended Engoron’s ruling that blocked Eric and Don Jr from the company.
NEW YORK (Reuters) – A New York state appeals court threw out on Thursday an approximately half-billion dollar penalty that Donald Trump had been ordered to pay after a judge found that the U.S. president fraudulently overstated the value of his properties and other assets to bolster his family business.
The decision by a five-judge panel of the Appellate Division in Manhattan represented a defeat for New York Attorney General Letitia James, whose office brought the civil fraud lawsuit against Trump in 2022.
Judges on the appellate court had signaled skepticism toward the case during oral arguments last September. (more)
As we noted in October of 2023. There are no elements to this farce of a judicial proceeding which will survive appellate court review. The entire motive and process is easily identified by any intellectually honest person as a complete sham and legal clown show, intended to advance extreme ideological Lawfare.
All the banks and lenders did their own due diligence on financing terms with Donald Trump. All operational loans and Trump Org. business loans were paid back. There were no defaults or banking interests adversely impacted. There are no victims of what the State called “fraud.”
LOL!
https://x.com/i/status/1958564432239296681
More!
https://x.com/i/status/1958567847715573967
” I look forward to going into the office every day, suing him, and then going home.” Uhhh, I guess she meant “… into my jail cell …”, because none of that rant means much else at this point. 🤔
Looks like revenge of the DEI blackfired…
I see what you did there. Well played!!
black democrat women have no shame, no pride. They’d would sell their souls to for a lie
Businesses should still leave New York.
No victim(s) no loss
Members of the five-judge panel on the Appellate Division – the mid-level state appellate court hearing arguments in Trump’s appeal – appeared concerned about possible overreach by James.
Two of the judges interrupted Judith Vale, the lawyer arguing for New York, during her opening statement to ask if there were any other examples of the state suing over private business transactions between sophisticated parties under a law aimed at protecting market integrity.
“Every case that you cite involves damage to consumers, damage to the marketplace,” Justice David Friedman told Vale.
“We don’t have anything like that here,” Friedman added, saying that nobody “lost any money.”
“What is not disputed is the testimony that if the net worth had been as low as one million (dollars), the deal would’ve been exactly the same,” Sauer said.
https://www.reuters.com/world/us/trump-ask-new-york-appeals-court-toss-nearly-500-mln-civil-fraud-judgment-2024-09-26/
no reliance:
Moreover, even if we stipulate that Trump overvalued some of his assets (tripling the size of his luxury Manhattan apartment, for example), Trump’s statements of financial condition admonished counterparties to perform their own due diligence regarding any loans or contracts.
He needn’t have done even that, since his counterparties were top-tier financial professionals for whom pricing risk is their bread and butter. These banks and insurers also have top top-tier legal representation and the deep pockets to pay for litigation; if they get swindled, they sue.
With Trump, to the contrary, they kept doing business.
https://nypost.com/2024/10/01/opinion/appeals-court-judges-shine-light-on-tish-james-monstrously-stretched-case-against-trump/
Correct me if I’m wrong but I thought I remembered one of the bankers saying that his bank would be happy to do business with the Trump Organization again.
They ALL said that!
He was a whale according to deutche bank.
So will Gregor Soros now be indicted, as his money pays for these corrupt Attorney Generals?
Silly question.
What comes around goes around eh Letish?
Karma baby, Karma!
Trump is a very strange sort of real-estate developer: “he is honest.” He doesn’t lie on loan and insurance applications, because he doesn’t have to. He borrows money, and pays it back on-time with interest. He became a billionaire by earning it.
You have a “troubled” building for sale. Trump sees what it could be, and buys it. He pours money into it and gives it stellar management. He turns it into one of the most desirable properties in town. He pays close attention to the entire project – during, and after. He does this again and again.
Banks want to do business with him. Customers flock to his hotels. (Try one sometime … so will you!) Tenants want his company to be their landlord.
This is the overall problem with Trump that the left doesn’t understand. While he exaggerates a lot like every rich/successful person I’ve ever known, he does things above board. In their world, they only know that corruption and grift lead to “success” and wealth so they attack him from that angle, still not understanding who he really is.
A second part of that is assuming he’s stupid because he doesn’t think like them.
🚨 VINDICATED 🚨
The New York appellate court just threw out the outrageous $500 million fine against President Trump. I led 15 states in saying ENOUGH to this abuse of power. This was about politics, not justice. Today the Constitution won.
I had forgotten that there was an 8th Amendment ban on excessive fines.
As I recall, the people Trump did business with said they were not financially harmed when the trial was underway.
That made no difference to the prosecutor….because it was a political witch hunt.
Was justice served? Eventually, but not before some good (not perfect) people were dragged through the mud.
Not really. Can’t recoup the time – or the stress – of the ordeal. He should sue, if possible, for wrongful prosecution, and get a judgement of millions of dollars in legal fees And punitive damages.
The only fraud involved in this case is the New York judicial system.
Whoever was holding that bond likely had that money worked during that time. If President Trump gets his cash back, who gets to keep the earnings?
As I recall, Trump collects interest on his bond when it is returned
Time to prosecute the lawfare legal clowns and their puppet masters.🦨
Yes. When does that happen. I’m not holding my breath.
You must remember, that Tish, like all TDS players, is going to appeal this, because she is consumed with getting Trump. It will take time, but in the end, this whole case is going to be tossed by the SC.
Then comes the lawsuit seeking damages from her unwarranted and malicious actions.
If properly done, this and her mortgage fraud prosecution will bankrupt her and take away her license to be an attorney.
Music to my ears Bad Dog!
There are no elements to this farce of a judicial proceeding which will survive appellate court review. The entire motive and process is easily identified by any intellectually honest person as a complete sham and legal clown show, intended to advance extreme ideological Lawfare.
Yet there are other judicial atrocities that take the place of the ones dispensed with. Consider California.
The CA Supreme Court, made up of what you might expect, took only a few minutes to tell the governor he could indeed IGNORE the law that requires a 30-day waiting period mandated under the state constitution before an introduced bill can be passed, unless three-fourths of lawmakers agree to waive the requirement.
So, the anti-democratic dem lawmakers are already at work re-drawing districts and by-passing the committee responsible for such decisions.
I continue to believe only a type of singular event will bring an end to judges, legislators, etc. symbolically laughing in our faces while they ignore laws.
A CA state senator stood before that body yesterday and stated outright that they NEEDED ILLEGAL ALIENS to stay in California so that they counted on the census.
So what kind of “singular event” are we talking about here?
The Richter Scale could be involved.
Earthquake? Tsunami?
A large body of military age migrants seize the California capitol building in Sacramento and hold all those Democrats hostage while doing various prurient things to them while others burn down all their mansions in an attempted INSURRECTION.
Good step in the right direction but no real justice until James serves time for fraud and loses her law license.
Absolutely.
I wonder when they will throw out the ridiculous judgement for that sea hag lunatic who has falsely accused Donald Trump of rape? That lying old harridan shouldn’t get a flat dime.
She should get a stint at the women’s prison for making false testimony that were politically motivated.
Now what is LJ and the Judges penalty for the fraud they perpetrated?
Very very timely Betsy. Who knew an AG could claim victim status?
They try, Monti. All Dems do no matter what position they hold. Victimhood is one of the tenets of their political ideology that simply won’t die. Their followers are exactly the same.
They’re also God fearing Christians and strict Constitutionalists; but, only when that serves their own interests…
Not just a President
Not just a Garbageman
Moonlights as a Policeman too
Whatta guy
…and it continues. Take a seat b!, while you still can!
A terrifying thing to be dragged into a courtroom with a marxist judge and a charging ghettopotamus.
Does the Trump business have the right to sue NY state and or James personally? Maybe at a federal level? Maybe Trump could donate any potential outcome to a NY State Republican party organization.
Ironic that the prosecutor who brought fake bank fraud charges against President Trump is herself facing charges of mortgage fraud. While no one was defrauded by President Trump and the Trump Organization, the same cannot be said for the case of AG James. She defrauded the bank in two ways: 1) by claiming that the Virginia property would be her primary residence and 2) by claiming the NY apartment building was a 4 family dwelling when she knew that it was ALWAYS a 5 family dwelling and not eligible for the lower rates. We won’t even talk about the potential crime of claiming to be married to her father!
I browsed through the opinion this morning. Brutally towards James ,the NY Supreme Court, and the clown wearing the black robe.
The last section does not hold back regarding James.
A Retrial was discussed. The court went through if the government could even go there, constitutional issues. I read James is going for an appeal.
Look at the wasted time and resources.
God bless President Trump!
MAGA 👊👊🇺🇸🇺🇸❤️❤️🙏🏻🙏🏻
President Trump has a very impressive winning streak going. At this rate he will surpass the 1971-72 Lakers.
And no…..I’m not tired of winning. God bless you President Trump!
Giga-peat ™
Todays decision only vacates the fine. It does not reverse the verdict. James will undoubtedly appeal to a higher course in her continued effort to bring Trump down. These people are blinded by their hatred for Trump and continue to take actions that defy common sense.
liar corrupt Big PIG,
prison Bed is not Bigger enough for her fat body,
It is good that the fine was thrown out.
And good that Don Jr. and Eric are not blocked from working in their family business.
But – did the appeals court not yet overturn the entire trial – and lambast the prosecution, the judges – AND the jury members – for their RICO conspiracy to commit a false prosecution, etc?
What am I missing?
…Gardner: New York Should Pay Trump Interest on $175 Million Bond They Held for Tish James
https://www.breitbart.com/clips/2025/08/21/gardner-new-york-should-pay-trump-interest-on-175-million-bond-they-held-for-tish-james/
FOX News
November 7, 2024
Mike Davis, a staunch ally of President-elect Donald Trump, had some harsh words for New York Attorney General Letitia James during an appearance on “The Benny Show” podcast on Thursday.
“Let me just say this to Big Tish James, the New York Attorney General … I dare you to continue your lawfare against President Trump in his second term,” the founder of the Article III Project said. “Because listen here sweetheart, we’re not messing around this time. And we will put your fat a– in prison for conspiracy against rights and I promise you that.”
Davis warned James to “think long and hard before you want to violate President Trump’s constitutional rights or any other American’s constitutional rights.”
“It’s not going to happen again,” Davis said.
https://www.foxnews.com/politics/trump-ally-floated-possible-ag-has-harsh-warning-letitia-james-we-put-your-fat-a-prison?msockid=0f5c0f7d34556c43362c019035e66dcb
Finally.
Trump has to keep going and get Engoron removed from the bench and prosecuted. Subpoena his comms first. That should make the case a slam dunk.
Letitia James’ fine contradicted her claimed predicate for instituting the “probe” and litigation of Donald Trump for alleged real estate fraud contradicts her claim that Trump OVERSTATED HIS WEALTH to get favorable loan terms. She repeatedly claimed Trump was not a “billionaire,” yet imposed a fine large enough to suggest that he IS a billionaire since it is nearly a half-billion dollars in cash.
By obsessing with valuations of properties like Mar-a-Lago in his financial records and in the documentation of the Deutsche Bank loan both Judge Engoron and James betrayed they are totally ignorant about the legal environment in which lenders operate. Here is when appraisals of property value are required by FEDERAL BANKING REGULATORS (FDIC, FED, OCC) and State Banking Regulators. The Deutsche Bank loan would fall under federal jurisdiction as it is in INTERSTATE/INTERNATIONAL COMMERCE as well as the Trump Organization is both interstate and international in scope.
Federal Regulations Regarding the Need for Appraisals of Real Estate Used for Collateral on Retail and Commercial Loans
Federal regulations, primarily governed by Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), and further detailed in the Interagency Appraisal and Evaluation Guidelines, dictate when appraisals are required for real estate used as collateral in Retail and Commercial loans.
Here’s a breakdown of the requirements:
1. General appraisal requirements
Federally Related Transactions: Appraisals performed by state certified or licensed appraisers are generally required for all federally related real estate transactions (loans secured by real estate).
Residential Real Estate: For residential real estate transactions, an appraisal is required if the transaction value exceeds $400,000.
Commercial Real Estate: For commercial real estate transactions, an appraisal is required if the transaction value exceeds $500,000.
Minimum Value: An appraisal is generally required when the real estate serves as security for a loan with a transaction value exceeding $250,000.
2. Appraisal exemptions
Certain transactions are exempt from the appraisal requirement, including:
Loans Secured by Real Estate Taken for “Abundance of Caution”: This applies when the real estate collateral is not essential to the loan’s approval and the terms wouldn’t change without it.
Real Estate Not Secured by Real Estate Value: Loans where the real estate lien is not primarily related to the property’s value.
Leases (unless equivalent to purchase/sale): A lease is exempt unless it’s considered the economic equivalent of a purchase or sale of the leased real estate.
Existing Extensions of Credit: An exemption may apply to existing loans at the same institution if there’s no advancement of new funds (beyond reasonable closing costs) or significant changes in market conditions that affect the collateral value.
Specific Business Loans: Business loans of $1 million or less where the repayment is not primarily dependent on the sale or rental income from the real estate used as collateral.
3. Appraisals for higher-risk mortgages
Higher-Risk Mortgages: The Dodd-Frank Act requires appraisals for certain higher-risk mortgages. These typically apply to closed-end loans with an annual percentage rate exceeding the average prime offer rate by a specified percentage.
Required Disclosures: For these higher-risk mortgages, creditors must obtain appraisals that meet certain standards, provide applicants with notifications, and give applicants a copy of the written appraisal used.
“Flips”: Second appraisals may be required in specific circumstances, particularly in “flips” (property resales in a short period).
4. Evaluations
When Required: For transactions falling below the appraisal thresholds or those qualifying for specific exemptions, regulations typically require an evaluation of the real property collateral.
Evaluation Purpose: Evaluations provide an estimate of the real estate’s market value but are not subject to the same stringent requirements as a formal appraisal.
Preparation: Evaluations must be conducted consistent with safe and sound banking practices and can be performed by qualified individuals, potentially including loan officers or other staff members who meet the institution’s collateral evaluation policy requirements, according to the Farm Credit Administration.
5. Additional requirements
Independence: Persons ordering, performing, or reviewing appraisals and evaluations must be independent from the loan production and collection processes.
USPAP Compliance: Real estate appraisals must adhere to the Uniform Standards of Professional Appraisal Practice (USPAP), published by the Appraisal Standards Board.
Documentation: Financial institutions are required to have written real estate lending policies consistent with safety and soundness principles, including an appropriate appraisal and evaluation program.
Important Note: The agencies (FDIC, Federal Reserve, and OCC) reserve the right to require an appraisal whenever deemed necessary to address safety and soundness concerns, regardless of whether a transaction otherwise qualifies for an exemption.
It is important for financial institutions involved in real estate lending to establish robust policies and procedures that align with these federal regulations and guidelines to ensure compliance and promote safe and sound lending practices.
As long as the bank lending the money has an appropriate, professional appraisal on file to document the Forced Sale Value of the property, there is no violation of federal regulations concerning the valuation of real estate used for collateral on a loan.