A US court has thrown out a $464 million civil penalty against President Donald Trump imposed by a judge who found he fraudulently inflated his personal worth, calling the sum “excessive” but upholding the judgment against him.
Judge Arthur Engoron ruled against Trump in February 2024, going on to order the mogul-turned-politician to pay $464 million, including interest, while his sons Eric and Don Jr. were told to hand over more than $4 million each.
The judge found that Trump and his company had unlawfully inflated his wealth and manipulated the value of properties to obtain favourable bank loans or insurance terms.
On Thursday, the Appellate Division of the New York Supreme Court upheld the verdict, but ruled that the size of the fine was “excessive” and that it “violates the Eighth Amendment of the United States Constitution.”
