NEW YORK (AP) 鈥� New York state lawyers urged an appeals court late Wednesday to uphold Donald Trump鈥檚 , arguing there's 鈥渙verwhelming evidence鈥� to support a judge's finding that the lied for years about his wealth as he built his real estate empire.
In , New York Attorney General Letitia James鈥� office said the appeal is awash in 鈥渕eritless legal arguments鈥� and ignores volumes of trial evidence showing that he and his co-defendants engaged in "fraud and illegality on an immense scale."
鈥淥n appeal, defendants tellingly ignore almost all their deceptions,鈥� Assistant Solicitor General Daniel S. Magy wrote in a to the state鈥檚 mid-level appeals court known as the Appellate Division.
Trump, his company and top executives including his sons Eric and Donald Trump Jr. 鈥渃reated and used financial statements rife with blatant misrepresentations and omissions to maintain loans worth more than half a billion dollars and to generate over $360 million in ill-gotten profits,鈥� Magy wrote.
The Appellate Division said Wednesday that it will hear the case on Sept. 26, about six weeks before Election Day and just after the start of early voting in some states. The court typically rules about a month after arguments, meaning a decision could come before the presidential race ends.
If upheld, the judgment threatens to dent Trump鈥檚 personal wealth, disrupt his Trump Organization and damage his identity as a savvy businessman. As of Wednesday, the Trump defendants owe more than $485 million. That includes interest that continues to accrue even after Trump posted a to halt collection of the sum and prevent the state from seizing his assets while he appeals.
Trump is asking the Appellate Division to overturn Manhattan Judge Arthur Engoron鈥檚 Feb. 16 finding that he on financial statements used to secure loans and make deals. He and his lawyers argue the verdict was 鈥渆rroneous鈥� and 鈥渆gregious.鈥�
The Appellate Division could either uphold Engoron鈥檚 verdict, reduce or modify the penalty or overturn the decision entirely. If Trump is unsuccessful at the Appellate Division, he can ask the state鈥檚 highest court, the Court of Appeals, to consider taking his case. If he wins, he won鈥檛 have to pay the state anything and will get back his bond money.
Trump and his lawyers contend the case should never have gone to trial, the statute of limitations barred some allegations, and the state shouldn鈥檛 be policing private business transactions. They also object to the legal mechanics of James鈥� lawsuit, arguing that the law she sued him under is a consumer-protection statute that鈥檚 normally used to rein in businesses that rip off customers.
Trump denies wrongdoing and he and his lawyers say no one was harmed. He has decried the verdict as 鈥渆lection interference鈥� and 鈥渨eaponization against a political opponent,鈥� complaining he was 小蓝视频 punished for 鈥渉aving built a perfect company, great cash, great buildings, great everything.鈥� James and Engoron are Democrats.
In their response Wednesday, state lawyers said the statute of limitations was applied properly and that state law authorizes the state's attorney general to take action against fraudulent or illegal business conduct, "regardless of whether it targets consumers, small businesses, large corporations, or other individuals or entities."
Wednesday鈥檚 scheduling of oral arguments adds to a busy September for Trump, as he campaigns to retake the White House while navigating the aftermath of multiple courtroom losses.
Trump is scheduled to debate his Democratic opponent, Vice President Kamala Harris, on Sept. 10. On Sept. 16, the judge in Trump鈥檚 hush money criminal case is expected to rule on a defense request to overturn and dismiss the case on . Two days later, Trump is scheduled to be sentenced in the criminal case 鈥� though his lawyers have asked that it be postponed until after Election Day, Nov. 5.
Engoron found that Trump, his company and top executives schemed for years to puff up his financial statements to create an illusion that he and his properties were more valuable than they really were. Trump inflated his net worth on the financial statements by as much as $800 million to $2.2 billion a year, state lawyers said.
In addition to the hefty monetary penalty, the judge put strict limitations on the ability of Trump鈥檚 company to do business. Among other consequences, Engoron put the Trump Organization under the supervision of a court-appointed monitor for at least three years.
If upheld, Engoron鈥檚 ruling will force Trump to give up a . The judge ordered Trump to pay $355 million in penalties, accounting for what he deemed 鈥渋ll-gotten gains" derived from his inflated financial statements, including lower loan interest rates and profits from projects he wouldn鈥檛 have otherwise been able to finish.
With interest the total was $485.2 million as of Wednesday 鈥� including $20.6 million in interest that has accrued since the verdict. The sum will increase by nearly $112,000 per day until he pays, unless the verdict is overturned.
Trump maintains that he is worth several billion dollars and testified last year that he had about $400 million in cash, in addition to properties and other investments. James has said that if Trump is unable to pay, she will seek to seize some of his assets.
In a filing last month, Trump鈥檚 lawyers said that if Engoron鈥檚 decision is upheld, it would bestow James with 鈥渓imitless power" to target anyone she desires, including her self-described political opponents.
Michael R. Sisak, The Associated Press
