Trump escapes historic $515M civil fraud penalty in New York

President Donald Trump won a massive reprieve in his New York civil fraud case that could have jeopardized his real estate empire. An appeals court tossed the $515 million penalty imposed last year by Judge Arthur Engoron, calling the fine “excessive” and a violation of the Constitution’s ban on excessive punishment, the Associated Press reported.  Engoron found Trump inflated asset values on financial statements given to lenders and insurers, ordering him to pay $355 million plus interest — a sum that ballooned over half a billion dollars. Trump’s sons and Trump Organization executives Eric and Donald Jr. were also hit […]This article originally appeared on The Real Deal. Click here to read the full story.