A New York appeals court reviewed Donald Trump’s appeal regarding a $454 million fine imposed for business fraud, showing skepticism towards elements of the case brought by the state's attorney general. The five-judge panel questioned key aspects, including the application of a consumer fraud statute and the justification for the financial penalty. The defense argued that there were no victims or complaints, and the sophisticated nature of the transactions should exempt Trump from certain fraud claims. The state countered that Trump's inflated financial statements were essential to securing loans and should be penalized despite the profitability of the deals.
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00:00It's Benzinga, and here's what's on the block.
00:02A New York appeals court reviewed Donald Trump's appeal regarding a $454 million fine imposed
00:08for business fraud, showing skepticism toward elements of the case brought by the state's
00:13attorney general.
00:14The five-judge panel questioned key aspects, including the application of a consumer fraud
00:19statute and the justification for the financial penalty.
00:22The defense argued that there were no victims or complaints, and the sophisticated nature
00:26of the transactions should exempt Trump from certain fraud claims.
00:30The state countered that Trump's inflated financial statements were essential to securing
00:34loans and should be penalized despite the profitability of the deals.
00:38For all things money, visit Benzinga.com.