WORLD NEWS FOR MONTENEGRO DIASPORA
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AUTHOR:M.J. GDNUS
A New York Court of Appeals today overturned a $500 million fine that US President Donald Trump had to pay in a civil case in New York last year, when Judge Arthur Engoron ruled that he was guilty of grossly inflating the value of his assets in order to secure favorable loans.
Engoron then ordered Trump to pay a fine of $355 million, which with interest rose to more than $500 million.
In a ruling published today, judges of the Appellate Division of the New York Supreme Court stated that Trump is responsible for fraud, but that the half-billion dollar fine is excessive and likely violates the constitutional provision on protection from harsh penalties, reports the BBC.
In the case against Trump, his two adult sons and the Trump Organization, Judge Engoron also banned Trump from serving as a company director and from taking loans from banks for the next three years.
The five-judge appeals panel was divided today on the merits of the original lawsuit, filed by New York Attorney General Letitia James, which accused Trump and his sons of “persistent and repeated fraud.”
While the majority said she “was within her legal authority to bring this lawsuit,” one said the case should have been dismissed and two said a new trial should have been held.
After additional discussion, the two joined in deciding to overturn the conviction, Judge Peter Moulton wrote in a 323-page decision.
Moulton said American voters had “clearly rendered a verdict” on Trump’s political career.
“This panel today unanimously thwarts efforts to destroy his businesses,” the judge wrote.
Trump’s son Eric, who was involved in the case, celebrated the decision with a post on social media.
"A complete victory in the New York State Attorney General's bogus case. After five years of hell, justice has prevailed," he wrote.
