Trump’s $464 million fraud penalty thrown out by New York court

Investing.com -- A New York appeals court has thrown out the $464 million civil fraud penalty against President Donald Trump and his company, while still upholding his liability in the case.

The ruling marks a significant financial victory for Trump in his legal battle with the New York attorney general over asset valuations.

The appeals court decision maintains that Trump is liable in the civil suit regarding how he valued his assets, but eliminates the massive financial penalty that had been imposed.

The case centered on allegations that Trump and his company had misrepresented asset values in financial statements. While the court agreed with the underlying finding of liability, it determined that the penalty amount was not appropriate.

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Trump’s $464 million fraud penalty thrown out by New York court

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