In a significant blow to Donald Trump’s real estate empire, a judge has ordered the cancellation of business certificates for entities related to the former president, including his oldest sons. The ruling comes after the judge found that Trump and his businesses had engaged in persistent fraud by overvaluing the worth of various buildings and golf clubs. This could potentially force Trump to sell prized properties such as Trump Tower in Manhattan. The ruling has been described as “as bad as it gets for a civil decision” and could have severe consequences for Trump’s businesses in New York.
The judgment has raised the possibility of a fire sale of Trump Tower, as Trump’s lawyers sought clarification on the scope of the ruling. They argued that various entities would either have to surrender to the court or be placed in receivership. However, the immediate impact of the decision remains unclear, as the judge declined to elaborate on enforcement methods. Legal experts believe that Trump’s legal team will likely request a stay to delay the implementation of the ruling.
This ruling not only poses financial challenges for Trump’s businesses but could also affect his defense in the criminal indictments he faces. The judge’s findings of fraud and dishonesty could undermine Trump’s credibility if he were to take the stand in these cases. Prosecutors could use this ruling to establish a pattern of deception and further prove that Trump is a liar. Overall, this judgment represents a significant setback for Trump’s real estate empire and challenges the narrative of his business acumen.
