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.

  • @RememberTheApollo_
    link
    101 year ago

    Meh. Just confirms we knew he was a fraud.

    Being a financial crime or whatever, the result will likely just be fines or restitution at worst (because rich people are involved) that will probably be neutered further in appeals.

    IOW, nothing he hasn’t probably seen before, and nothing with any serious teeth that will prevent him from carrying on being the POS he is.