Trump takes victory lap after NY appeals court throws out $500 million fraud fine

President Trump on Thursday took a victory lap after a New York appeals court threw out the roughly $500 million civil fraud penalty against him, using the ruling to attack judges and prosecutors involved in what he called “Political Trials.”

“TOTAL VICTORY in the FAKE New York State Attorney General Letitia James Case!” Trump posted in a lengthy message on Truth Social. “I greatly respect the fact that the Court had the Courage to throw out this unlawful and disgraceful Decision that was hurting Business all throughout New York State.”

Trump called the case against him “a Political Witch Hunt, in a business sense, the likes of which no one has ever seen before.”

The president went on to attack numerous figures connected to the case and others he faced in New York, including New York attorney general Letitia James and Judge Arthur Engoron, who oversaw the case. He also attacked Judge Juan Merchan, who oversaw a separate case related to hush money allegations in which Trump was found guilty, and Judge Lewis Kaplan, who oversaw a defamation case involving Trump.

“These were all Political Trials in an effort to destroy my viability as a Presidential Candidate before, during, and after the Election,” Trump posted.

“All of these Judges should be ashamed of themselves for allowing them to happen. They are Political Hacks who did everything possible to hurt me as a Candidate,” he added. “This was an attack by the Biden/Harris Administration on their Political Opponent, ME. It is such an Honor to have withstood it, thrived, and even become President of the United States despite the horrible things that were done to me.”

James brought the case against Trump and his business empire in 2022, alleging he falsely altered his net worth on key financial statements to receive tax and insurance benefits.

A bench trial culminated in a $464 million judgment against Trump and his business, plus interest that has mounted every day since. The total had reached more than $527 million, including interest, as of Thursday. 

The New York court upheld a lower court’s finding that Trump, his eldest sons and another executive conspired to alter his net worth for tax and insurance benefits. 

However, the massive financial penalty against the president and his business will not stand, with the judges saying it amounts to an unconstitutional excessive fine. The ruling enables the case to move toward New York’s top court. 

Beyond the agreement the fine must be tossed, the decision was deeply split. Two judges said the trial court’s findings were justified, another two wanted to order a new trial, while the fifth judge voted to dismiss the case outright. 

In addition to the New York cases, Trump was indicted in 2022 on charges in Florida, Georgia and Washington, D.C., but his victory in the 2024 rendered the cases moot.