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Trump 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The judge's ruling ordered that some of Trump's business licenses be rescinded and the companies that own his properties be handed over to independent receivers.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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10 Articles

The Straits Times

Lean Right

What does New York fraud ruling mean for Donald Trump's business empire?

The fate of Donald Trump’s business empire hangs in the balance. Read more at straitstimes.com.

3 years ago·Singapore, Singapore

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Financial Times

Center

‘As bad as it gets’: Donald Trump’s New York business empire imperilled by fraud ruling

Court’s decision casts doubt on the fate of the former president’s real estate holdings

3 years ago·London, United Kingdom

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CBS News

Center

"Damaging" fraud ruling could spell the end of Donald Trump's New York business empire

Judge's ruling could strip Donald Trump of his authority to make strategic and financial decisions over key properties in the state.

3 years ago·New York, United States

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Salon

Left

N.Y. fraud ruling could mean the "end of Trump's financial empire"

Expert: N.Y. judge's decision will shape perception of Trump as an "obstructer of justice" and "financial cheat"

3 years ago·San Francisco, United States

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The Hill

Center

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, […]

3 years ago·Washington, United States

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New Hampshire Union Leader

Center

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…

3 years ago·Manchester, United States

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