"Damaging" fraud ruling could spell the end of Donald Trump's New York business empire
CBSN
Donald Trump could be at risk of losing his grasp on his New York business empire — a collection of properties that has defined his image as a successful real estate tycoon — after a judge found that the former president and his company had "repeatedly" violated state fraud laws.
As part of his ruling in the civil case, New York Supreme Court Justice Arthur Engoron on Tuesday also ordered that the business certificates for his New York companies be "canceled" and that three potential independent receivers be appointed within 10 days to "to manage the dissolution of the canceled" limited liability companies associated with Trump and the Trump Organization.
If not successfully appealed, the order could strip Trump of his authority to make strategic and financial decisions over some of his key properties in the state, ranging from his flagship Manhattan commercial property at 40 Wall Street to his Westchester County estate Seven Springs, according to legal experts.
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