US court overturns $464m civil fraud penalty against Trump

Washington: A US court threw out Thursday a $464 million civil penalty against President Donald Trump imposed by a judge who found he fraudulently inflated his personal worth, calling the sum "excessive" but upholding the judgment against him.

"The court's disgorgement order, which directs that defendants pay nearly half a billion dollars to the State of New York, is an excessive fine that violates the Eighth Amendment of the United States Constitution," said the Appellate Division of the New York Supreme Court.