Court Throws Out Huge Fraud Penalty Against Trump

A New York appeals court on Thursday threw out President Donald Trump's massive civil fraud penalty while upholding a judge's finding that he exaggerated his wealth for decades.

- ASSOCIATED PRESS

The ruling spares Trump from a potential half-billion-dollar fine but bans him and his two eldest sons from serving in corporate leadership for a few years.

The decision came seven months after the Republican returned to the White House. A panel of five judges in New York's mid-level Appellate Division said the verdict, which stood to cost Trump more than $515 million and rock his real estate empire, was "excessive."