A New York appeals court struck down a $464 million fraud penalty against President Donald Trump and his company, even as it upheld the finding that he broke the law by inflating the value of assets like Mar-a-Lago.
A five-judge panel in Manhattan on Thursday agreed with Trump that the size of the fine was unconstitutionally “excessive.” The long-awaited ruling by New York’s intermediate appeals court is a major victory for Trump over New York Attorney General Letitia James, whose office brought the case, though other aspects of the April 2024 judgment remain intact.