ISTANBUL

A New York appellate court overturned a $500 million civil fraud penalty Thursday that was imposed on US President Donald Trump, ruling the financial punishment violated constitutional protections against excessive fines.

The court upheld findings that Trump and his company were liable for fraud by inflating property values to secure favorable loans and insurance. But judges unanimously determined the nearly half-billion-dollar penalty constituted an excessive fine that violated the Eighth Amendment to the US Constitution on excessive fines.  

Trump hails 'TOTAL VICTORY'

Trump celebrated the decision on his social media platform Truth Social on Thursday, calling it a "TOTAL VICTORY in the FAKE New York State Attorney General Letitia James Case!"

He praised the court's courage in overturning the "unlawful and disgraceful Decision that was hurting Business all throughout New York State. Trump claimed the total amount with interest and penalties exceeded $550 million, describing the case as "a Political Witch Hunt" and "Election Interference."

"This was a Case of Election Interference by the City and State trying to show, illegally, that I did things that were wrong when, in fact, everything I did was absolutely CORRECT and, even, PERFECT," wrote Trump.  

Multi-state support

South Carolina Attorney General Alan Wilson said his office led a multi-state brief supporting Trump, joined by 14 other states, arguing the judgment was unconstitutional under the Eighth and Fourteenth amendments protections. The Fourteenth Amendment guarantees due process.

Wilson called the penalty "a blatant abuse of power and a weaponization of the justice system.”