NEW YORK — A Manhattan judge found Donald Trump liable for wide-scale fraud Tuesday for lying about his net worth for years — stripping him of his New York business licenses in a stunning setback for the former president days ahead of state Attorney General Tish James’ sweeping case against his family-run real estate empire.
In a blistering 35-page ruling, state Supreme Court Justice Arthur Engoron granted James’ request to find Trump, his sons and top Trump Organization executives liable for the top fraud claim in her $250 million lawsuit. Engoron will consider the remaining six claims when the trial starts next week.
In an unexpected portion of his decision, the judge essentially stripped Trump of the ability to run his businesses in New York by canceling his certificates and any controlled by his adult sons, Eric and Don Jr., and Trump Org execs Allen Weisselberg and Jeffrey McConney. Engoron gave them 10 days to find receivers to oversee the LLCs’ dissolution.
The ruling means Trump could potentially lose control of his famous New York City properties including 40 Wall Street in the Financial District.
Trump’s team condemned the decision and said they would appeal.
“Today’s outrageous decision is completely disconnected from the facts and governing law,” Christopher Kise said in a statement.
“The decision seeks to nationalize one of the most successful corporate empires in the United States and seize control of private property all while acknowledging there is zero evidence of any default, breach, late payment or any complaint of harm,” he continued. “While the full impact of the decision remains unclear, what is clear is that President Trump and his family will seek all available appellate remedies to rectify this miscarriage of justice.”
Eric Trump took to X, formerly known as Twitter, to say “the persecution of our family continues.”
“Today, I lost all faith in the New York legal system. Never before have I seen such hatred toward one person by a judge — a coordinated effort with the Attorney General to destroy a man’s life, company and accomplishments,” he wrote.
The AG welcomed the ruling.
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