6 hours ago$500 million penalty off for Donald Trump
Periskopi(10 months ago)
(10 months ago)An appeals court has dismissed a $500m fine (over 430m euros) that US President Donald Trump was forced to pay last year in a civil fraud process in New York. Judge Arthur Engoron had ordered this sentence, as 79-year-old was suspected to have raised the value [...] unreasonablely.
Judge Arthur Engoron had ordered this sentence, as 79-year-old was suspected of having unreasonablely raised the assets of the Trump Organisation to obtain more favourable loan conditions.
In his decision, the New York Supreme Court Appeal panel said that, despite responsibility for fraud, the fine of nearly half a billion dollars was excessive and violated US constitutional protections against excessive punishments.
Initially, Judge Engoron had imposed a fine of $335 million, which increased to over 500 million, reports the U.S. cn.
In this civil case against Trump, his two sons and the Trump Organisation, the judge had also decided that Trump could not exercise management positions in the company or take credit from banks for a three-year period in New York.
The five-judge panel of Appeals was divided on the main issue of the indictment filed by New York General Prosecutor Lettia James, who accused Trump and his sons of continued and repeated fraud. /Periscope/
