Last Updated on September 29, 2023 by Robert C. Hoopes
Title: Donald Trump’s Real Estate Empire on the Verge of Collapse as Judge Rescinds Licenses
New York City – In a stunning blow to Donald Trump’s real estate empire, New York Attorney General Letitia James received a favorable ruling from Judge Arthur Engoron. The decision rescinded the licenses of the Trump Organization and other entities owned by Trump and his adult sons, Eric and Don Jr. The ruling came after the judge determined that fraud had taken place, a verdict that could have dire consequences for Trump’s financial standing.
With this ruling, Trump’s former attorney and fixer, Michael Cohen, predicted that the companies would ultimately be liquidated. The implications of Engoron’s ruling have prompted Trump’s legal team to request permission for his assets and businesses to continue under receivership. However, the judge plans to address this issue at the upcoming non-jury trial scheduled for October 2nd.
Should the appeals fail, experts fear that the collapse of Trump’s empire could be imminent. The initial step is anticipated to be the sale of Trump’s most prestigious real estate holdings, including Trump Tower and his golf courses. These properties, previously touted by Trump as symbols of his success, are now considered damaged goods due to their demonstrated overvaluation. Consequently, it is likely that they will be sold at a significant loss.
Renowned white-collar criminologist William Black raises the possibility of Trump insiders and employees coming forward with additional incriminating information once his wealth and influence wane. Engoron’s ruling has been described as devastating, and analysts believe Trump’s chances of prevailing on appeal are slim.
Without control over the majority of his assets, Trump’s influence may rapidly fade away. The downfall of his empire, it appears, would be the result of audacious fraud and a lack of control over those involved in his business dealings. This potentially could lead to credit failings and bankruptcy.
As the Trump empire teeters on the edge of collapse, experts warn that his chances of a successful recovery are low. The imminent liquidation of his assets at fire-sale prices seems increasingly likely. Only time will tell if Trump can weather this storm and salvage what remains of his once-formidable real estate empire.
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