US EditionTrump could lose control of famed properties under New York fraud ruling
- A New York judge ruled that Donald Trump and his businesses committed fraud by overvaluing properties and exaggerating his net worth to secure loans and business deals. As a result, Trump may lose control of several properties in his portfolio, including his Florida residence and club resort in Palm Beach.
- The judge's ruling ordered that some of Trump's business licenses be rescinded and the companies that own his properties be handed over to independent receivers. This has been described as a "corporate death penalty" and has rarely been used before. Trump will still own the properties but will not be able to sell them or use them to secure loans.
- If an appeal is unsuccessful, Trump might attempt to buy back the properties if they are sold. The court order also highlighted Trump's ownership of a luxury apartment property in New York City's financial district.
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Trump could lose control of famed properties under New York fraud ruling
A major loss Tuesday in former President Trump’s New York civil fraud case raises the potential for him to lose control of some of his famed properties and ability to do business in the state. A New York judge ruled Tuesday that state Attorney General Letitia James (D) proved core elements of her far-reaching case, […]
·Washington, United States
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Trump's business empire at risk of dissolution after New York ruling
Donald Trump rode down the escalator at Trump Tower to announce he was running for president in 2015. The Fifth Avenue skyscraper had long served as the backdrop to his business success story, which in turn became the foundation for…
·New Hampshire, United States
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Leaning Left3Leaning Right2Center5Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
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C 50%
R 20%
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