- The judge ruled Trump’s repayment of loans didn’t protect him from accusations of fraud, but he is expected to urge the appeals court to reduce or overturn the judgment for lack of traditional victims
- Trump expected to ask the appeals court to postpone requiring him to pay the judgment until the appeals are resolved.
With Donald Trump expected to appeal the $453.5 million real-estate fraud judgment against him, legal experts anticipate he will highlight the lack of traditional victims in the case to reduce or eliminate the damages.
New York Attorney General Letitia James won the case by documenting intentional fraud in Trump’s inflated claims about his assets when applying for loans and arguing Trump should surrender “ill-gotten gains.” State Supreme Court Justice Arthur Engoron ruled the fraud was so long-running and remorseless that it “borders on pathological.”
But Deutsche Bank and other lenders haven’t sued the former president for crafting the exaggerated statements of his net worth that persuaded them to charge lower interest rates. Debating who Trump hurt among sophisticated financial institutions is likely a key point in the appeal.
“To what extent does a large financial institution have to do their own due diligence in something like that?” asked Gregory Germain, a law professor at Syracuse University and director of the Bankruptcy Clinic. “It’s a significant question, especially since he’s always had a reputation as a blusterer.”
To avoid paying…
