In a major victory for former President Donald Trump, a New York appeals court has thrown out a $500 million penalty against him in a civil fraud case brought by New York Attorney General Letitia James. The court ruled that there was insufficient evidence to support the hefty penalty imposed on Trump.

The case, which has been ongoing for years, centered around allegations that Trump had engaged in fraudulent business practices prior to taking office. Attorney General James had argued that Trump's actions had cost investors hundreds of millions of dollars, and sought to hold him accountable for his alleged misconduct.

However, in a unanimous decision, the appeals court found that the evidence presented by James was lacking, and that the penalty imposed on Trump was excessive. The court's ruling is a significant blow to James and her efforts to hold Trump accountable for his business dealings.

Trump, who has long maintained his innocence in the case, welcomed the court's decision, calling it a "vindication" of his actions. The ruling is likely to have far-reaching implications for future civil fraud cases involving high-profile public figures.