A court ruling by Judge Arthur Engoron has determined that Donald Trump committed fraud and as a result, his companies will be dissolved and removed from his control.
This legal decision is a significant blow to Trump’s reputation as a wealthy real estate magnate and influential political figure. The court found that Trump had misled banks, insurers, and others by overvaluing his assets and exaggerating his net worth.
Specifically, the ruling revealed that Trump had inflated the value of his assets, including Mar-a-Lago, by as much as 2,300%, and had lied about the size of his Manhattan apartment. As a result, limited liability companies that control Trump’s key properties will be dissolved and placed under the authority of a receiver.
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