Reference News Network August 22 report - According to AFP, on August 21, a US court revoked the $464 million civil penalty against US President Trump. Previously, a judge had determined that Trump had fraudulently exaggerated his personal assets and required him to pay a $464 million civil penalty. The court said the fine amount was "excessive," but upheld the judgment against Trump.
According to the report, in February 2024, during the peak of Trump's presidential campaign, Judge Arthur Engoron made a ruling against Trump.
Trump said on his "Truth Social" website on August 21: "This is political persecution, and from a business perspective, it's unprecedented." He also said: "Everything I did was absolutely correct, even perfect."
When Judge Engoron first issued the ruling, he required Trump to pay a $464 million civil penalty, including interest. At the same time, Trump's sons Eric and Donald Jr. were each required to pay over $4 million.
The judge believed that Trump and his company illegally exaggerated his wealth, manipulated the value of property, in order to obtain favorable bank loans or insurance terms.
In addition to the economic blow to Trump, the judge also banned him from running a business for three years. Trump repeatedly called this "corporate death."
On August 21, five judges of the New York Supreme Court Appellate Division upheld the original verdict, but ruled that the fine amount was "excessive." (Translated by Li Sha)
Original text: https://www.toutiao.com/article/7541345121087603252/
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