New York: In a major relief for former U.S. President Donald Trump, an appeals court has overturned the $454 million penalty imposed in a business fraud case. The five-judge panel ruled that although wrongdoing occurred, the fine was excessive. Trump had been accused of inflating his net worth to secure loans and insurance benefits.
The initial ruling in February 2025 imposed a $355 million penalty, which later grew due to interest. Trump hailed the appeal court’s decision as a “complete victory.” However, he still faces other cases, including charges of falsifying business records related to hush-money payments to adult film star Stormy Daniels.
