FILE - Former President Donald Trump sits in the courtroom before the start of closing arguments in his civil business fraud trial at New York Supreme Court, Jan. 11, 2024, in New York. (AP Photo/Seth Wenig, Pool, File)

An appeals court has thrown out the massive civil fraud penalty against U.S. President Donald Trump , ruling Thursday in New York state’s lawsuit accusing him of exaggerating his wealth.

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 US$515-million and rock his real-estate empire, was “excessive.”

After finding that Trump engaged in fraud by flagrantly padding financial statements that went to lenders and insurers, Ju

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