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.
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.
They will be sold