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Trump fraud ruling that cancels his on NYPost.com

business licenses is a ‘devastating’ blow 52,567

for ex-president, experts say

By Katherine Donlevy and Lydia Moynihan
Published Sep. 26, 2023, 11:41 p.m. ET

Trump committed fraud by inflating wealth, NY judge finds — clearing way Billionaire Powerball winner's ‘terrible’
for trial buy: $47M LA mansion

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A ruling by a New York judge that Donald Trump had

More On: committed fraud — leaving the fate of his business empire
donald trump dangling in uncertainty — was a “devastating” blow for the
former president, legal experts said Tuesday night.
Donald Trump’s Mar-a-Lago
estate worth ‘at least’ $300M, not Trump fraud ruling that cancels NY biz
$18M as NY judge ruled If not successfully appealed, the decision will revoke the licenses is a 'devastating' blow for ex-
Trump Organization’s “business certificates,” preventing the prez: experts
Trump slams NY judge’s fraud 77-year-old from conducting business in the Empire State
ruling, says appeals court ‘must until the revocation is rescinded.
reverse un-American decision’
A Manhattan judge ruled that the businessman greatly what to shop now
Judge revokes Trump’s NY biz
licenses, says he’s on the hook exaggerated the value of his wealth to secure favorable
for fraud after inflating a$$ets terms with banks, which ultimately led him to worldwide fame
— and into the White House.
James Carville rips far-left
Democrats on Bill Maher “The decision today is a final decision that fraud is proven.
podcast: ‘Most stupid, naive
people you can imagine’ The judge made this decision on the basis of Trump’s own
documents. The evidence is Trump’s own documentation,”
Andrew P. Napolitano, a former New Jersey Superior Court
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Manhattan Judge Arthur Engoron ruled that Trump committed fraud.

Gregory P. Mango

“These are indisputable facts — the case is based entirely on the documents his lenders and his
insurance companies produced.”

The 2024 GOP presidential front-runner will likely appeal the ruling, which could cost him upward of $250 Angus Cloud’s mother reveals
‘Euphoria’ star’s heartbreaking final
million in penalties that New York state Attorney General Letitia James is requesting — a heavy lift for the words
less-than-liquid Republican.
Ben Affleck gives ex Jennifer Garner a
Trump could potentially have to sell off his assets in order to pay the lofty legal fees, which could hurt his ride in his car after intimate hug
ego more than his pockets, a source familiar with the former president said. caught on camera

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Donald Trump was stripped of his authority to execute strategic and financial decisions for his New York businesses. ‘The View’ Censors Whoopi Goldberg
REUTERS For Several Seconds After Making
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Trump could potentially have to sell off assets in order to pay the lofty legal fees, a source familiar with the former
president said.
Getty Images

“He is really f–ked,” said the source, who asked to remain anonymous.

“This really hurts. He cares about the money. This is the beginning of the end for him. These cases are
going to really hurt him. He’s been so blasé about this.”

The certificate revocation would remain in place as the appeals case

makes its way through the circuit, which could take months. see also
Little is preventing Trump from ignoring the ruling, however — he
would be hit with monetary fines for conducting business in the interim,
but wouldn’t see any criminal ramifications.

“A regular person would be very concerned about what happened

today and they would probably start looking at new shareholders or
Judge revokes Trump’s
selling or looking into perhaps transferring certain real estate into NY business licenses,
various different entities. I don’t think he’s going to be doing any of finds he committed
that,” said Alex Fisher, a corporate lawyer.
fraud by inflating wealth

“And given this person’s propensity to challenge civil rulings or civil

outcomes in practicality, it might not have as big of an effect as somebody thinks it might.”

Ifthe decision is upheld after the appeals process runs its course, Trump will lose a major way to make
money.

preventing Trump from ignoring the guidance of the ruling, though he would be
Little is hit with monetary fines for
conducting business in the interim.
AP

If not successfully appealed, the decision will revoke the Trump Organization’s business certificates.
Getty Images

Judge Engoron ruled that Trump greatly exaggerated the value of his wealth to secure favorable terms from banks.
REUTERS

1347 What do you think? Post a comment.

a devastating ruling,” said Bill Black, distinguished scholar

“It’s in residence for financial regulation at the
University of Minnesota Law School.

“Ifthe decision is upheld, they have to liquidate the LLCs which actually hold the enormous bulk of the
assets.”

Filed under celebrity business court donald trump fraud letitia james
trump organization 9/26/23

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Trulylatino
8 hours ago
How can this be "fraud" when any loans were repaid in full?
If the loans were in a bankruptcy, sure, but no bankruptcy here.
I fully suspect this decision will quickly be overturned ‍⚖️ in appeal. ⚖️

Reply 482 Share

Gary Goodman
8 hours ago
A lot of loans weren't repaid. The loans were to various LLCs that Trump controlled.
everal of them declared bankruptcy and the loans were either written off or restructured.
banks base the interest rates they charge partially on the risk level of the loan. If the
Organization borrows ...
See more
Reply 173 Share

Big Billy Lunch Meat

1 minute ago
Your crooked stick is never straight.
Based on your statement 100% of publicly traded companies on Walstreet should be
out of NYC and considered fraudulent... If you know anything about 10-k

When out a statement,

I fill I start with gross income, not net for a reason.All my
netting me...
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Reply Share
Show 10 more replies
Patrick Ford
7 hours ago
Ifyou steal money from a bank and pay it back the next day, its still theft. The law
equires the statements for loans be accurate and truthful. Otherwise, there are no
and the entire financial system crumbles. Fraud doesn't have to have a victim
be criminal. I'm actually a little su...
See more
Reply 164 Share
4 replies
KARA
1 minute ago
You must live under a rock. Trump is a fraud!
Reply Share
Show 26 more replies

QuaranTina
8 hours ago
Show me a businessman who values his own assets; aren't appraisers hired to do those things?
rump may have signed off on them but was he advised not to do so? I doubt it. It would be like
your house appraised at $200,000 in a neighborhood where similar homes are selling
$300,000. If a l...
See more
Reply 166 Share

mrsteevo56
7 hours ago
Its always lender obligation to validate collateral and other qualifying information. All
ebts were repaid under the loan terms that originated over 20 years ago and no harm
from the transactions. This decision will be reversed on appeal.
Reply 154 Share
8 replies
Plift posnerbabe
1 hour ago
How do child trafficking oligarchs value their human assets?
Yet, Jeff Epstein s associated billionaire child sex trafficking business leaders continue
and favored by oligarchs and Capo Garland.
JP Morgan and Prince Andy got sweet deals.
Les Wexner, Reid Hoffman, Bill Gates, Leon Black.......
See more
Reply 26 Share
Show 1 more reply

Blackspeare
8 hours ago
This was all adjudicated in deference to bank guarantees. The loaning institution has the
bligation to verify property valuations not the borrower! When I applied for a loan using
collateral I provide my estimate of the property value. However, the bank also
the property and did...
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Reply 334 Share

G Diddy
5 hours ago
Wrong. I'm an expert in mortgage lending for over three decades and can explain how it

orks. The lender on the asset for the loan only appraises the subject property as
It also evaluates the ability to repay on the income, assets and debt of the
When borrowers apply for the l...
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Reply 60 Share
4 replies
Patrick Ford
7 hours ago
You don't have to be absolutely precise in valuating your property, but if you inflate the
alue by 200%, 300%, 400%, you're committing fraud. Your loan paperwork must be true
accurate to the best of your knowledge. This judge will definitely not be overruled on
appeal. Neither will his judg...
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Reply 93 Share
replies 2
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