Former President Donald Trump, who is facing a deadline of Monday to turn over $464 million in the New York civil fraud case brought by Democratic state Attorney General Letitia James, hinted that his next legal move might be to invoke his federal constitutional right against excessive fines.
Judge Arthur F. Engoron levied a $355 million fine and more than $100 million in interest against the former president and presumed Republican presidential candidate last month.
To obtain better loan terms, Engoron concluded that Trump’s business, The Trump Organization, had overstated the value of its properties.
During the trial, Trump’s lawyers countered that there were no victims because all bank loans were repaid in full and on schedule. In reality, the banks profited millions of dollars from their loans to his business.
