Donald Trump filed an appeal on Wednesday (October 4, 2023) against a New York judge’s finding that his family firm and had falsely increased the value of numerous buildings and his net worth by as much as $2.2 billion.
Letitia James, the attorney general of New York, filed the lawsuit. A civil trial to determine the remaining claims and penalties began on Monday. She then filed an appeal to the Appellate Division, a mid-level appeals court in Manhattan.
James alleges that Trump, three of his adult children, and the Trump Organization engaged in a “staggering fraud” by lying for ten years about asset values in order to get better insurance and bank loan terms.
Justice Arthur Engoron of the New York state court in Manhattan discovered “conclusive evidence” on September 26 that Trump had overstated his wealth.
According to the judge, Trump overpriced a number of properties, including his Mar-a-Lago residence in Florida, his penthouse apartment in the Trump Tower in Manhattan, as well as a number of office buildings and golf courses.
The certificates that allowed some of Trump’s companies, such the Trump Organization, to operate in New York were also ordered to be revoked by Engoron.
At least $250 million is what James is requesting as compensation.
Along with a five-year ban on Trump and the Trump Organization from investing in commercial real estate, she also wants Trump, his sons Donald Jr. and Eric, and their businesses from operating in New York.
Trump, who is running for the Republican Party’s presidential candidacy in 2024, now holds a sizable advantage.
In response to Engoron’s ruling, Trump referred to the allegations of fraud against him as “ridiculous and untrue” and branded the judge as “DERANGED.”
Trump has also entered a not guilty plea to unrelated charges in four indictments that accuse him of attempting to rig the 2020 presidential election, storing classified information, and concealing payments to a porn star in the form of hush money.
