Donald Trump will no longer need to pay a $464 million fraud penalty he was ordered to hand over last year after being found liable for inflating his assets by billions of dollars.
A New York appeals court said Thursday that the hundreds of millions Trump was ordered to pay was an 'excessive' penalty and should be extinguished.
The seismic financial victory comes over a year and a half after a five-judge panel said Trump, his sons and business associates broke the law by misrepresenting the worth of their assets to secure better business deals.
The ruling that Trump and his associates broke the law still stands.
Speaking on Truth Social, the president portrayed the case as politically motivated designed to hurt his 2024 candidacy.
