NEW YORK: A New York judge found Donald Trump and his family business fraudulently inflated the value of his properties and other assets, in a major defeat for the former United States president that could severely hamper his ability to do business in the state. The scathing decision by Justice Arthur Engo
NEW YORK: A New York judge found Donald Trump and his family business fraudulently inflated the value of his properties and other assets, in a major defeat for the former United States president that could severely hamper his ability to do business in the state.
Engoron also ordered the cancellation of certificates that let some of Trump's businesses, including the Trump Organization, operate in New York, and ordered the appointment of a receiver to manage the businesses' dissolution. Trump and the other defendants have argued that they never committed fraud, and that the challenged transactions were profitable. They plan to appeal Engoron's decision.
"If the decision is upheld, they have to liquidate the LLCs which actually hold the enormous bulk of the assets," Black said, referring to limited liability companies.
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