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Trump still waiting on ruling of $454M civil fraud judgment appeal, sparking debate over judicial bias: ‘Politics is interfering'

Trump still waiting on ruling of $454M civil fraud judgment appeal, sparking debate over judicial bias: ‘Politics is interfering'

New York Post7 days ago
President Trump has been waiting a whopping 293 days for a five-judge panel's decision on his appeal of the massive $454 million civil fraud judgment won last year by state Attorney General Letitia James — with many experts, including Trump detractors, suspecting political motives as the average wait in the First Department appellate division is just 30 days.
The oral arguments in Trump's appeal on Sept. 26, 2024, were widely seen by journalists and lawyers as sympathetic to the then-Republican presidential nominee, who is appealing the massive penalty for allegedly inflating the value of his assets to secure loans, which he denies.
At least one panelist, Presiding Justice Dianne Renwick, is considered likely to rule against Trump — with a non-Trump affiliated attorney referring to Renwick as a 'political animal' appointed by Democratic Gov. Kathy Hochul because of her perceived partisan reliability.
'Obviously it seems that politics is interfering with the judgment,' said Bennett Gershman, an openly anti-Trump law professor at Pace University.
'It's there. Is it inappropriate? Yes. Is it something that happens? Yes.'
3 President Trump is appealing a $454 million civil fraud judgment.
REUTERS
Any member of a five-judge panel can place a 'hold' on releasing a decision without having to provide an explanation, several experts familiar with the appeals process said.
'This delay is creating the perception that the presiding judge is stalling the decision to prevent a favorable decision for the president,' said a legal source who has tracked the case.
Gershman, who has argued cases before the First Department and mingled with its judges at campus events, said it's impossible to know for sure what the judges are saying or thinking, but that it's implausible that the ruling and dissents aren't written.
'I don't think it's that complicated of a question that takes 293-plus days to decide. It could be one judge holding it up. It could be more than one judge,' he said.
'Judges are human beings, and they have personal ideologies and biases and all kinds of things that make their judging sometimes close to what their political feelings are.'
3 Presiding Justice Dianne Renwick, right, is seen a likely vote to uphold the verdict. She was appointed by Gov. Kathy Hohcul, left.
Matthew McDermott
Gershman said he personally believes Trump is guilty and that the trial court ruling by Judge Arthur Engoron, whom the president and his allies repeatedly accused of bias, should be upheld.
He added, however: 'This is an extreme case where the president of the United States is being reviewed. His conduct is being reviewed by these judges and there obviously are personal and political motivations that might interfere with their judgment even if it's unconscious. I think this case is a pretty good example of how it can happen and play out in the real world.'
Several attorneys familiar with the work of the First Department, which is one of four appellate divisions in the state, requested anonymity to share their insights on the unusually long delay.
3 New York Attorney General Letitia James brought the fraud case against Trump, arguing he inflated the value of his assets.
AP
An attorney who does not represent Trump told The Post that data from the past 18 months indicate that the average time for the division to issue an appeals ruling is just under 30 days from oral arguments. Signed decisions average longer – 140 days.
That source said that Trump's appeal is currently the only one pending in the First Department that's older than a couple months and that it's 'not even remotely close to anything.'
'The [presiding justice] is a political animal. I mean, she is. And so I would be surprised if there wasn't some political angle to this,' he added.
Judge David Friedman, another member of the panel, appeared closely aligned with Trump's arguments last September — and two other panelists are speculated to be leaning his way, though oral arguments aren't always a clear indicator of results.
Friedman, 74, is a Democrat appointed by Republican Gov. George Pataki in 1999 and is expected to leave the bench Dec. 31.
'If he's holding the majority, and I assume, based on the oral argument, that he's holding the majority, she could try and wait him out, which would be a scandal of epic proportions,' said one source.
White House sources in April claimed that Hochul told Trump 'I control the judges' during a February meeting in the Oval Office, which Hochul denied at the time.
'Hochul, who controls the judges, is demanding President Trump's help on congestion pricing, on wind farms, on energy and so much more while she keeps this nonsense case over the president's head. That is pure extortion,' an attorney familiar with the case claimed without offering evidence.
Hochul's office, James' spokespeople and the First Department did not respond to requests for comment.
A Trump legal team spokesman said: 'Letitia James' failed political crusade against President Trump is one of the most outrageous examples of the discredited radical lawfare campaign against the president. Her 'case' should have never seen the light of day, it is entirely phony, it is barred by the statute of limitations and it relies on her intentionally dishonest valuation of one of the most desirable properties in the world, Mar-a-Lago… at a ridiculous $18 million, while it is worth 10 times that.'
The Trump spokesman alleged a 'multitude of other fatal errors and lies' and said 'it is time for the New York courts to finally step in and end this witch hunt once and for all.'
The delay is costing Trump a significant but unknown amount of money in attorney fees and bond costs that he may never recoup.
Once a ruling is released, there's likely to be another appeal by the losing party to the New York Court of Appeals, which is likely to have the final say unless the US Supreme Court decides there's a federal claim to address.
There's not a unanimous agreement on why the First Department ruling is taking so long.
One Manhattan legal source familiar with the system said 'I think the most likely explanation for the delay in the case is that there's a dissent of one or more judges and it's been a spirited exchange of views. This process can take a long time when there's dissent and the dissent makes strong arguments.'
Columbia University law professor John Coffee offered a different theory — speculating that the appeal may be taking abnormally long due to analysis of the massive sanctions.
'While a split panel may take a longer time, 293 days seems too long to explain on that basis alone,' Coffee said.
'The leading issue may be the amount of the damages, as appellate courts are more apt to intervene there than on issues that clearly belong to the jury.'
One of the lawyers who spoke to The Post said that the unusual delay is likely to loosen lips at the courthouse if it drags on much longer.
'The building has so far been fairly tight about this case,' he said. 'But, you know, people talk. Sooner or later, I think that will come out.'
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Stock market today: Dow, S&P 500, Nasdaq futures rise as US-Japan breakthrough boosts deal hopes, with Tesla and Google on deck
Stock market today: Dow, S&P 500, Nasdaq futures rise as US-Japan breakthrough boosts deal hopes, with Tesla and Google on deck

Yahoo

time7 minutes ago

  • Yahoo

Stock market today: Dow, S&P 500, Nasdaq futures rise as US-Japan breakthrough boosts deal hopes, with Tesla and Google on deck

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At the same time, Enphase faces the fallout from Trump's cuts to tax incentives in the renewable energy sector. It said it expects the US residential solar market to shrink 20% next year as tax credits for homeowners end under Trump's sweeping budget legislation. Bloomberg reports: Read more here. Shares in Enphase Energy (ENPH) fell after its third quarter revenue forecast fell short, as the US solar company pointed to headwinds from President Trump's policies. The solar equipment maker said Trump's import tariffs had hit its gross margin, after the US in April finalized steep duties on solar cells from Southeast Asia. At the same time, Enphase faces the fallout from Trump's cuts to tax incentives in the renewable energy sector. It said it expects the US residential solar market to shrink 20% next year as tax credits for homeowners end under Trump's sweeping budget legislation. Bloomberg reports: Read more here. Trending tickers: Krispy Kreme, GoPro and Constellation Energy Corporation Here are some top stocks trending on Yahoo Finance in premarket trading: Krispy Kreme (DNUT)`stock rose 22% before the bell boosted by their names trending on social media a day after retail traders snapped up Kohl's (KSS) shares. Camera maker GoPro (GPRO) shares rose 43%, per Reuters short interest in the stock recently stood at 7.7%. Investor interest in heavily shorted stocks has grown after Kohl's jumped 38% on Tuesday amid heavy retail buying. Constellation Energy Corporation (CEG) stock rose 4% premarket after PJM Interconnection released results from its 2026-2027 capacity auction. The grid operator set record prices at $329.17 per megawatt-day, raising total capacity costs to $16.1 billion from $14.7 billion last year. Here are some top stocks trending on Yahoo Finance in premarket trading: Krispy Kreme (DNUT)`stock rose 22% before the bell boosted by their names trending on social media a day after retail traders snapped up Kohl's (KSS) shares. Camera maker GoPro (GPRO) shares rose 43%, per Reuters short interest in the stock recently stood at 7.7%. Investor interest in heavily shorted stocks has grown after Kohl's jumped 38% on Tuesday amid heavy retail buying. Constellation Energy Corporation (CEG) stock rose 4% premarket after PJM Interconnection released results from its 2026-2027 capacity auction. The grid operator set record prices at $329.17 per megawatt-day, raising total capacity costs to $16.1 billion from $14.7 billion last year. Tesla Q2 earnings preview: 3 things to watch Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Tesla (TSLA) is slated to report second quarter earnings on Wednesday against an uncertain backdrop for its core auto business and robotaxi rollout. Tesla stock pared some of its losses earlier in the year, as tariffs and a volatile relationship between CEO Elon Musk and President Trump weighed on the company. But the stock is still down about 17% year to date. Yahoo Finance's Pras Subramanian previews three key areas to watch when the EV maker reports: Read more here. Meme stocks are on the move again The return of meme stock mania doesn't appear like it will end on Wednesday. Some of the highest-trending ticker pages on Yahoo Finance this morning are meme crowd favorites Kohl's (KSS), Rocket (RKT), and Krispy Kreme (DNUT). As of 6 a.m. ET, Rocket and Krispy Kreme are each up double-digit percentages in premarket. "The phenomenon of meme stocks isn't going away. I feel like the genie's out of the bottle. And it's just become a way for a certain subset of everyday investors to trade, and that's completely fine," Ritholtz Wealth Management strategist Callie Cox said on Yahoo Finance's Opening Bid (watch below). Makes sense! The return of meme stock mania doesn't appear like it will end on Wednesday. Some of the highest-trending ticker pages on Yahoo Finance this morning are meme crowd favorites Kohl's (KSS), Rocket (RKT), and Krispy Kreme (DNUT). As of 6 a.m. ET, Rocket and Krispy Kreme are each up double-digit percentages in premarket. "The phenomenon of meme stocks isn't going away. I feel like the genie's out of the bottle. And it's just become a way for a certain subset of everyday investors to trade, and that's completely fine," Ritholtz Wealth Management strategist Callie Cox said on Yahoo Finance's Opening Bid (watch below). Makes sense! Texas Instruments stock plunges as guidance disappoints Given how hard the stock market has rallied, any company reporting guidance that is perceived as subpar will get punished. A good example of that will play out with Texas Instruments (TXN) in today's session. The stock is getting pounded premarket, down 12% after third quarter guidance on earnings per share that was 14 cents below consensus on the low end. TXN blamed weak demand in the auto market (heard the same in GM's (GM) outlook on Tuesday). Executives at the key chipmaker for producers of cars and factory equipment said they didn't know how much of the second quarter's jump in revenue was down to customers trying to get ahead of tariffs, per Reuters. Whatever the case, TXN's outlook is putting pressure on similar names in the space: Microchip (MCHP), Analog Devices (ADI), NXP Semiconductors (NXPI), and On Semi (ON). Given how hard the stock market has rallied, any company reporting guidance that is perceived as subpar will get punished. A good example of that will play out with Texas Instruments (TXN) in today's session. The stock is getting pounded premarket, down 12% after third quarter guidance on earnings per share that was 14 cents below consensus on the low end. TXN blamed weak demand in the auto market (heard the same in GM's (GM) outlook on Tuesday). Executives at the key chipmaker for producers of cars and factory equipment said they didn't know how much of the second quarter's jump in revenue was down to customers trying to get ahead of tariffs, per Reuters. Whatever the case, TXN's outlook is putting pressure on similar names in the space: Microchip (MCHP), Analog Devices (ADI), NXP Semiconductors (NXPI), and On Semi (ON). Japanese auto stocks surge as US announces lower-than-expected tariffs Shares of Japanese automakers pumped after U.S. President Donald Trump announced a trade deal with Japan, lowering the previously discussed 25% auto tariffs on Japanese vehicles to 15%. Honda (HMC) surged 9.8%, Toyota (TM) jumped 13.9%, Nissan (7222.T) gained over 5%, and Mazda (7261.T) soared 17.7%. Mitsubishi Motors (7211.T) rose over 12%. According to Japan's NHK, the revised tariff structure includes a 12.5% cut plus a 2.5% 'Most Favored Nation' base rate. The move comes as Japanese auto exports to the US have suffered, plunging 26.7% in June. Trump hailed the deal as the 'largest Deal ever,' claiming Japan would invest $550 billion in the US and allow greater access to its markets, including for American autos, trucks, and agricultural goods. Shares of Japanese automakers pumped after U.S. President Donald Trump announced a trade deal with Japan, lowering the previously discussed 25% auto tariffs on Japanese vehicles to 15%. Honda (HMC) surged 9.8%, Toyota (TM) jumped 13.9%, Nissan (7222.T) gained over 5%, and Mazda (7261.T) soared 17.7%. Mitsubishi Motors (7211.T) rose over 12%. According to Japan's NHK, the revised tariff structure includes a 12.5% cut plus a 2.5% 'Most Favored Nation' base rate. The move comes as Japanese auto exports to the US have suffered, plunging 26.7% in June. Trump hailed the deal as the 'largest Deal ever,' claiming Japan would invest $550 billion in the US and allow greater access to its markets, including for American autos, trucks, and agricultural goods. Trending tickers in after-hours trading Texas Instruments, Inc. (TXN) Texas Instruments, a leading chipmaker with the broadest product list in the field, saw its share value drop over 11.6% in after-hours trading. The stock has seen 46% gains in the year to date following a boom in purchases with each wave of tariff announcements. The rapid cooling-off occurred when the executive team announced they were unaware how much of the increase in revenue had been dependent on consumers attempting to circumvent the hike in prices from Trump's tariffs. Enphase Energy, Inc. (ENPH) Solar equipment provider Enphase Energy saw a drop of over 7.2% in the company's stock value in extended trading. With 5% of the market share in the solar equipment field Enphase acts as an early indicator for the impact that Trump's removal of tax credits will have upon the industry. Enphase are pointing towards a 20% drop in the residential market. Read more here. Analog Devices, Inc. (ADI) Shares in semiconductor maker Analog Devices saw a drop of over 4.1% after-hours, erasing gains from the month so far. The company specializes in chips that convert real world input into electrical signals, processing sound, light, temperature, pressure and motion. Investors have been eyeing ADI's earnings reports, still not due for another month. Texas Instruments, Inc. (TXN) Texas Instruments, a leading chipmaker with the broadest product list in the field, saw its share value drop over 11.6% in after-hours trading. The stock has seen 46% gains in the year to date following a boom in purchases with each wave of tariff announcements. The rapid cooling-off occurred when the executive team announced they were unaware how much of the increase in revenue had been dependent on consumers attempting to circumvent the hike in prices from Trump's tariffs. Enphase Energy, Inc. (ENPH) Solar equipment provider Enphase Energy saw a drop of over 7.2% in the company's stock value in extended trading. With 5% of the market share in the solar equipment field Enphase acts as an early indicator for the impact that Trump's removal of tax credits will have upon the industry. Enphase are pointing towards a 20% drop in the residential market. Read more here. Analog Devices, Inc. (ADI) Shares in semiconductor maker Analog Devices saw a drop of over 4.1% after-hours, erasing gains from the month so far. The company specializes in chips that convert real world input into electrical signals, processing sound, light, temperature, pressure and motion. Investors have been eyeing ADI's earnings reports, still not due for another month. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Dallas-area ICE arrests of noncriminals skyrocketed
Dallas-area ICE arrests of noncriminals skyrocketed

Axios

time8 minutes ago

  • Axios

Dallas-area ICE arrests of noncriminals skyrocketed

Immigration and Customs Enforcement (ICE) arrests of people without criminal charges or convictions in the Dallas area soared in June, per data compiled by the Deportation Data Project. Why it matters: The surge follows a national trend that coincides with the Trump administration's decision on May 21 to triple ICE's arrest quota. By the numbers: In January, ICE agents arrested 1,085 total people in the Dallas Field Office region, which includes North Texas, the Texas Panhandle and Oklahoma. As of June 26 — the most recent data available — the monthly arrest figure increased 59% to 1,726. Zoom in: The monthly share of Dallas-area ICE detainees without criminal charges or convictions more than doubled, from 197 in January (18% of all arrests) to 524 (30%) in June. The big picture: Nationwide, people without criminal charges or convictions made up an average of 47% of daily ICE arrests in early June, up from about 21% in early May, before the quota increase. The other side: "The media continues to peddle this FALSE narrative that ICE is not targeting criminal illegal aliens," Department of Homeland Security assistant secretary Tricia McLaughlin said in a statement to Axios. McLaughlin added that 70% of ICE arrests were for immigrants with criminal convictions or pending charges, but did not elaborate on that figure. Between the lines: " ICE has the authority to arrest immigrants who are suspected of violating immigration laws, regardless of criminal history," writes Austin Kocher, research assistant professor at Syracuse University's S.I. Newhouse School of Public Communications and immigration expert, in an analysis of the new data. "Nevertheless, the administration has gone to great lengths in the press and on social media to emphasize the criminality of people they are arresting. Both things can be true, of course."

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