Manhattan Supreme Court Judge Arthur Engoron ordered in February former President Donald Trump to pay an approximate $450 million penalty in a civil fraud case in which there were no victims.
As my colleague Mark Hemingway explained earlier this year, "Trump took out loans over several years, as real estate moguls are wont to do. For him to get approved for those loans, the banks did their own due diligence about Trump's finances and ability to pay back the loans and decided to give them to him. Trump paid back the loans, and everyone made money." Enogoron ultimately ordered Trump to pay $354 million plus an additional $100 million in interest.
Trump posted a $175 million bond in April and appealed the ruling.
Trump's team argued on Thursday before the New York Appellate Division, First Judicial Department that the case was a "Clear-cut violation of the statute of limitations," and that the statute used to bring charges against the former president ultimately did not justify the action taken.
Throughout the hearing, some of the justices appeared receptive to Trump's team's claims regarding the case.
"How do you tether the amount that was assessed by the Supreme Court to the harm that was caused here where parties left these transactions happy ?" Vale acknowledged the penalty was large but argued "It's a large number," in part, "Because there was a lot of fraud and illegality." Justice David Friedman earlier in the hearing asked Vale whether James had brought any other cases under the same law and circumstances as she brought charges against Trump.
"The Attorney General's case in New York, frankly, should have never been brought and if his name was not Donald Trump, and he if he wasn't running for president, I'm the former AG in New York, I'm telling you that case would have never been brought, and that's what is offensive to people," Cuomo said during a June appearance on "Real Time with Bill Maher: Overtime." CNN political commentator Jonah Goldberg made a similar statement in January, saying the "Prosecution was a mistake." "I think it's very political," Goldberg said.
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