Last Updated on September 28, 2023 by Robert C. Hoopes
Title: Donald Trump’s Real Estate Empire Teeters on the Brink of Collapse Amid Fraud Ruling
In a stunning turn of events, a New York judge’s ruling has left Donald Trump’s real estate empire at risk of collapsing. Legal experts weigh in on the consequences of the ruling, with many predicting the eventual liquidation of Trump’s assets.
The ruling, which determined that Trump’s empire was built on fraud and lies, has dealt a severe blow to his business ventures. Trump’s former attorney, Michael Cohen, declared that the former President is already “out of business” in New York after the judge revoked the licenses of the Trump Organization and other companies owned by Trump and his sons.
Cohen further predicted that the companies would be liquidated due to the ruling’s finding of fraud. Trump vehemently responded to the judge’s decision on his Truth Social website, calling the judge a “political hack” and asserting that he must be stopped.
Trump’s legal team is now seeking clarification on the future of his assets. They are exploring whether the assets must be sold or if they can continue under receivership. To address this issue, the judge has extended the deadline for suggestions of receivers’ names, with the trial scheduled to begin on October 2.
Despite the legal team’s plans to appeal the ruling, the appointment of receivers, and the judge’s allegation of property overvaluation, experts are skeptical about Trump’s chances of prevailing. If the appeals are unsuccessful, analysts expect the collapse of Trump’s real estate empire to commence, starting with the sale of high-profile assets like Trump Tower and his golf courses.
William Black, a renowned white-collar criminologist, warns that the downfall of Trump’s empire could trigger an avalanche effect. As once-loyal insiders and employees face the loss of wealth and influence, Black suggests they may come forward with more damaging information.
The court-appointed monitor overseeing the Trump Organization has already reported inconsistencies and incompleteness in financial disclosures. The lack of a business license prevents Trump from operating his assets, leading experts to anticipate their eventual liquidation, most likely at discounted prices.
Retired US attorney Joyce Vance views the judge’s ruling as a step toward justice and considers Trump’s chances of success on appeal to be slim. Experts point to Trump’s audacity and lack of control over those responsible for his deals as contributing factors to his downfall.
As individuals affected by Trump’s allegedly fraudulent practices take action against his properties, experts predict a domino effect of credit failings and bankruptcies. The far-reaching repercussions of the ruling could reshape the once-mighty empire and forever change the landscape of Trump’s business legacy.
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