Trump Appeals New York Court Ruling Over Real Estate Fraud Case

Former U.S. President Donald Trump is appealing against a New York court's nearly half-billion dollar judgment for misleading banks to secure favorable loans. The case, driven by Attorney General Letitia James, threatens Trump's business empire. Trump claims the lawsuits are politically motivated and aims to overturn the ruling.

Former U.S. President Donald Trump's legal team will argue before a New York state appeals court on Thursday to overturn a $454.2 million judgment in a fraud case concerning his real estate practices. Justice Arthur Engoron found Trump liable for inflating his net worth to secure better loan terms, leading to significant financial penalties.

The ruling could significantly impact Trump's extensive business empire, which spans hotels, office buildings, and golf courses worldwide. Trump's debt has now risen to $478.3 million due to accruing interest. Trump argues the legal actions are politically motivated attempts to interfere with his presidential campaign.

Attorney General Letitia James, who brought the case, contends that the statute invoked does not necessitate proof of financial loss by the banks. Instead, it aims to protect the integrity of New York's commercial marketplaces. The case centers around claims that Trump misrepresented his asset values and net worth for over a decade, including inflating the size of his Manhattan penthouse.

(With inputs from agencies.)