The Trump Organization is trying to determine the sweep of Tuesday’s ruling that Donald Trump is liable for fraud and what it means for the future of the former president’s namesake business, his attorneys say.
At a pre-trial hearing Wednesday, Trump attorneys said they didn’t know to which part of the company the ruling applied and were starting to work out what may need to be dissolved to comply with the judge’s surprise decision.
Officials from New York Attorney General Letitia James’ office also said they needed more time to go through the order.
The fraud case “changed significantly since yesterday,” New York Judge Arthur Engoron said in court Wednesday, referring to his stunning ruling where he found Trump and his adult sons liable for fraud and canceled the Trump Organization’s business certification.
At best, The Trump Organization gets pulled into little, tiny pieces that are unable to work together. There won’t be anything left of value, power or influence.
Bought time we hit him in the money. Kicked him in the fork so hard he suddenly went deaf.
And if it needs saying, money is the only thing propping this man up. His influence will evaporate overnight once he’s truly broke.
Don’t underestimate the ability of stupid people to give him money. I suspect that he makes more from the grifting than the company. Losing the company martyrdom will be a boon for fundraising.
You’re right, but the Org is also almost certainly a huge part of how he launders campaign money to pay off his … Russian bankers.
He’s over 1 billion in debt. He didn’t even fundraise that much after the election and he had other expenses to cover.
Don’t underestimate the ability of Saudi Arabia to give him money.
This guy made so much money when the first charge was levied that it made my eyes water. People who can’t afford rent are dying to bail him out. It’s so stupid.
Don’t underestimate the ability of foreign influences to fund him either.
Unfortunately, the grift will continue. Close enough to half the people of the US voted for him last time.
46% or 74M voters voted for him. Only 29% of 258M US adults voted for him. This same delusional 30% shows up all the time and they vote hard. They aren’t 50% though.
close to half of the people in the US voted for him
This is legitimately enough to say “pack it in.” The american experiment has failed and failed fucking fantastically.
Edit: guys I get it, it’s not half of the country. It IS roughly half of the people who voted though, which is what fucking matters
Would be if it was a true measure but with the low voter participation and him getting less than 50% of what few people voted, he never got more than 21% of the total population to vote for him. That means that over three quarters of Americans have never voted for him and probably never will.
That he got that far with so little of the population voting for him (18% when he “won” in 2016) says a LOT about how undemocratic the system is, though…
Whatever way you do the figures, he was elected once and nearly elected a second time. He’s the most likely candidate for a third term and it’s neck and neck. People choosing not to vote is just as big a problem when one of the candidates is this terrible for the world.
He was APPOINTED once. Elected is when you get more votes than the other candidates.
People choosing not to vote
You mean politicians from both parties alienating prospective voters by representing rich people and their corporations many times more than regular people, being staunchly pro-cop and laughing at the very notion of common sense policies that most of the population wants?
While Biden is by far the lesser evil, him and the other neoliberals are still very much an evil, complicit in the rise of fascists like Trump because they never do enough to resist them or represent and help the poor people who have been fooled by Trump pretending to care about them.
And that’s not even mentioning all the voter suppression the Dems make pretty speeches against but hardly ever do anything to actually stop it.
An indirect election is a type of election. https://en.m.wikipedia.org/wiki/United_States_presidential_election
Voter suppression is certainly a problem but voter apathy is a bigger problem.
An indirect election is one thing, but the EC isn’t democratic. Not even close.
And voter “apathy” (more like resignation) is mostly a problem because, with very few center-left exceptions, the major parties only cater to the rich and others with right wing policy positions.
To have nobody who represents you faithfully in Congress or the white House is de facto disenfranchisement, not apathy or laziness.
except its not true and you should fact check things you read on the internet before condemning an entire country
Trump attorneys said they didn’t know to which part of the company the ruling applied
gestures towards all of it and then makes a completely different, significantly ruder gesture at them
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BURN MOTHER FUCKER
The future eh? Good thing I can see that. My future vision says that eventually T***p will die and his idiot sack spawn will waste whatever is left after the government finishes chewing on his economic corpse. Ivanka will no longer have to think about her horny weirdo dad, Eric will mourn for the hug he never got, Don Junior will switch from cocaine to meth, Tiffany still won’t matter, and Barron will probably get arrested for something weird and gross in his 30s. Oh and Melania will make a fortune on book sales and public speaking while thanking God it’s finally over.
While Trump Tower is eshine as the Trump homeless community center our whatever. We will make all his hotels homeless and low cost housing and we dedicate them all to him.
Yeah. For a trump based business, I would imagine it’s next to impossible to turn a profit legitimately.
That’s what happens when the leader is a nepo baby who’s also an idiot who thinks himself infallible 🤷
How about the future is - NO FUTURE. Shutter the place.
This is the best summary I could come up with:
At a pre-trial hearing Wednesday, Trump attorneys said they didn’t know to which part of the company the ruling applied and were starting to work out what may need to be dissolved to comply with the judge’s surprise decision.
Trump attorney Christopher Kise stressed during Wednesday’s hearing that the judge’s ruling injected fresh uncertainty for his team about the fast-approaching trial and raised a host of questions for them, including over how far-reaching the decision is for the company.
“It’s the reason why I’m saying we would ask the court for a little more time with the monitor,” he said, referring to a retired federal judge who had been appointed several years ago to oversee the company’s financial statements.
Engoron said in his ruling that a receiver will be put in place to “manage the dissolution” of the corporate entities, a move that is rare outside of cases where a judge finds there to be a notable amount of business fraud, according to Simon Miller, a New York-based attorney with broad expertise on receiverships.
Engoron said in his ruling that the issues that will be determined at trial include how much Trump will be held liable for in the lawsuit and the amount of disgorgement, or ill-gotten funds, the company will need to pay to the attorney general’s office.
Kise said in a separate statement that the judge’s decision is “outrageous” and argued that it “seeks to nationalize one of the most successful corporate empires in the United States and seize control of private property.”
The original article contains 1,128 words, the summary contains 255 words. Saved 77%. I’m a bot and I’m open source!
So who’s looking into the not at suspicious 1bil deal ivankas idiot got.
You’re a billion short, there.
The business still functions and makes money. Trump gets paid , but isn’t allowed to run it. If parts get sold they will be sold for market prices. I woudn’t be surprised if Trump gets paid for the sale of his assets and fund raises to buy them back under a business from another state. He could make out really well from this.
wrong. everything you said.
The government is revoking the business license, not stripping Trump of assets. Trump still owns the business, but the court is now in charge of winding them down. All of the money is still going to Trump and family while this happens. The businesses will get sold off and Trump will get the money for that as well.
People thinking like you will believe that the government is stealing Trumps properties, which it is not. He will be able to fund raise off of this.
When the pieces are sold off, other companies can buy the assets as long as they are in good standing. Trump has businesses in other states not covered by this ruling, which is specific to New York state.
The ruling is specific to NYS.
However, from what I understand, the Trump Organization itself is incorporated in NYS. So they’ll be selling off everything it owns, in every state.
That includes Mar a Lago.
The proceeds of the sale go first to pay any debts and obligations - to stiffed contractors, to government fines, and to pay off the remainder of bank loans. The owners (i.e. Trump) gets the rest of the cash from the sales. There’s literally no way Trump ends up poor from this, but he might find it difficult to repurchase things like Trump tower.
Gosh, and those steaks were tasty. Good thing I still have a bunch in the freezer.
