On the 21st, the New York State Court of Appeals ruled to revoke the approximately $500 million civil fraud fine imposed on U.S. President Donald Trump and others by the trial court.
The appellate panel, composed of five judges, pointed out in its 323-page verdict that the fine of about $500 million was “excessive” and violated the Eighth Amendment of the U.S. Constitution.
According to The New York Times, the ruling means the appeals court upheld the trial court’s determination of Trump’s civil fraud, but revoking the fine constitutes an “economic victory” and a certain degree of legal recognition for Trump.
That day, Trump posted on social media stating that he thanks the appeals court for having the courage to make this ruling and called the lawsuit “an unprecedented political persecution,” and “one of the most severe persecution incidents in American business history.”
CNN reported that New York State Attorney General Letitia James may appeal this decision to a higher court.
In 2022, James filed a lawsuit against Trump, the Trump Organization, and other defendants, accusing them of inflating asset values to obtain favorable loans and insurance terms. In February 2024, New York State Judge Engoron ruled on the case, finding Trump guilty of fraud, requiring him to pay about $450 million in fines including interest. This fine continued to increase due to accumulating interest.