A New York judge has ordered Donald Trump’s business entities in the state of New York, including The Trump Organization, dissolved, and his business certificates canceled, according to legal experts, after ruling that the ex-president for years committed fraud and deceived banks and insurers by inflating the value of his assets.
Manhattan Supreme Court Justice Arthur Engoron “has ordered cancellation of all [NYS] business [certificates] of ‘any entity controlled or beneficially owned by Donald J. Trump, Donald Trump, Jr, Eric Trump, Alan Weisselberg, & Jeffrey McConney. An independent receiver will manage the dissolutions,” writes former federal prosecutor Elizabeth de la Vega.
The Messenger reports Judge Engoron’s “blockbuster ruling found that the former president and his business leaders failed to correct course after warned of a ‘propensity to engage in persistent fraud,'” and ordered “a quick timeline to dissolve the Trump Organization and other corporate entities.”
MSNBC legal analyst Lisa Rubin explains that the “New York trial court judge has found that Trump, his adult sons, and Allen Weisselberg engaged in a persistent, years-long fraud through ‘fantasy world’ valuations of core Trump assets, including his own residence and various golf courses and office buildings.”
“His decision not only eliminates the need for trial on that claim, but also orders fairly dramatic relief: the cancellation of New York business certificates for all of the entities named as defendants, ‘as well as any other entity controlled or beneficially owned by the individual defendants found liable,'” she adds.
“In addition to finding that Trump committed fraud, the judge canceled the certificates of various Trump businesses, appointed a former judge as an independent monitor of the Trump Organization, and will appoint receivers to manage the canceled LLCs,” writes former federal prosecutor Renato Mariotti.
“This is a pretty big deal,” he adds.
Professor of law Ryan Goodman, the former Dept. of Defense Special Counsel says Manhattan Supreme Court Justice Arthur Engoron ordered the “corporate death penalty” for the Trump organization. Former U.S. Attorney Joyce Vance also used the term “corporate death penalty.”
“The leading Republican candidate has been found liable for sexual assault and fraud, his companies found guilty of fraud, and he’s charged with 91 OTHER felony counts. That he is not dismissed politically out of hand says much more about us, than about him,” observes MSNBC’s Andrew Weissmann, the well-known former lead prosecutor in Robert S. Mueller’s Special Counsel’s Office and former FBI General Counsel.
Attorney, retired U.S. Air Force colonel, and former administrative law judge Moe Davis responding to the news, writes: “Trump is the eponymous fraudster. The name Trump is to fraud what Campell’s is to soup, Kleenex is to tissue, and ping is to pong.”