A judge on Tuesday ruled that Donald Trump and his company are liable for fraud by misstating the true values of multiple real estate properties for years and thus grossly overstating the former president’s net worth by billions of dollars.
Judge Arthur Engoron in his bombshell decision also canceled the New York business certificates of Trump, the Trump Organization, and the other defendants, including two of his sons, in a lawsuit by the state Attorney General’s Office.
The judge said he would appoint an independent receiver to manage the dissolution of the corporations whose business certificates he canceled.
It is not clear whether Engoron’s decision means the Trump Organization and related entities will have to completely cease doing business in New York, or whether the companies can be legally reconstituted later.
I love how the lawyers were fined for presenting shitty arguments that they were specifically instructed not to. Hope that sets a precedent.
Yes, agreed, that was beautiful!
”Because of those misstatements, Trump had inflated his true net worth by billions of dollars.”
Aren’t those called Lies?
Fraud in this case.
Fraud is also criminal in the State of NY. This is for the civil case. A DA could choose to press charges as well.
Letitia James rocks and I’m so excited with the verdict! This is such wonderful news!
All because his lawyers early in the case checked a box for bench trial instead of jury trial, then blew through all the deadlines involved in fixing it. Absolutely massive fuckup, especially when your legal strategy is to annoy the judge with repetitive nonsense arguments.
When your lawyers are getting fined personally for making stupid arguments too many times, your case is not going well. Trump’s only hope was an idiot juror to hold out on a guilty verdict and give him a mistrial. No jurors in a bench trial. Truly and irrevocably fucked.
The smoking gun …
The judge added that if liability for fraud is established under New York law, that statute allows the attorney general to obtain an order enjoining defendants from continuing to do business or “any fraudulent or illegal acts.”
Even after Engoron appointed an independent financial monitor for the Trump Organization last year, “defendants have continued to disseminate false and misleading information while conducting business,” the judge wrote.
“This ongoing flouting of this Court’s prior order, combined with the persistent nature of the false [statements of financial condition] year after year, have demonstrated the necessity of canceling the [defendants’ business] certificates … as the statute provides,” the judge wrote.
In layman’s terms, what is happening to the voided properties?
The fact that Trump is appointing the independent feels… conflict of interesty.
I’m not sure where that part of the post comes from. The source says “The judge said he will apppoint(sic) an independent receiver to manage the dissolution of the corporations whose business certificates he canceled.” Which I can only take to mean that the judge is doing the appointing, not Trump.
I may be mistaken, but the appointed independents are probably subject to court approval.
And so the cheap glue holding that cheater’s house of cards together starts to come undone. There’s a breeze in the air…
What are “business certificates” and what does it mean for Trump to have them revoked?
Having watched a lot of Louis rossmann videos on NY, you need those displayed at your business to be allowed to operate it. If you do not have them, they will shut you down and fine you.
Whether or not they will enforce it here is another question, but NY seems to not fuck around with that, since corporate taxes and fines are a large contributor to their state income.
