Thursday, May 30, 2024
HomeLatest NewsTrump's Legal Team Struggles to Comprehend the Implications of Fraud Verdict

Trump’s Legal Team Struggles to Comprehend the Implications of Fraud Verdict

A state judge has ruled that former President Donald Trump committed fraud by inflating the value of his assets, potentially causing him to lose control of his flagship New York properties, including Trump Tower on Fifth Avenue and the Trump International Hotel. New York Attorney General Letitia James brought a civil case against Trump, which the judge sided with. As a punishment, the judge revoked Trump’s licenses to operate those properties, leaving the future of his New York business operations uncertain. Trump is expected to appeal the ruling, and an appeals court could rule soon on a separate lawsuit he has filed against the judge himself.
If the judge’s decision stands, it could spell the end of the Trump Organization as it is currently known, forcing a sell-off of properties and imposing restrictions on the Trump family’s ability to run their empire. It is more likely, however, that the properties would be handed to a court-appointed chief executive, potentially preventing Trump and his adult sons from directly managing the business without court permission. Legal experts suggest that this ruling represents a significant blow to Trump, highlighting the power of a state law that allows the attorney general to pursue “persistent fraud” without having to prove intent or financial loss.
Trump has denied any wrongdoing and attacked both Attorney General James and the judge, calling the ruling “outrageous” and “completely disconnected from the facts and governing law.” The judge, Arthur F. Engoron, has faced criticism from Trump’s legal team, who have accused him of ignoring previous decisions. Despite the uncertainty surrounding the ruling’s consequences, James stated that she looks forward to presenting the rest of her case at trial. Justice Engoron’s decision affects not only Trump Tower but also nearly a dozen other New York properties controlled by Trump and his sons.

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