Former American president Donald Trump could face a real-estate ban in multiple states, which would hamper his golf course portfolio.
Sean O’Driscoll of Newsweek broke the story, writing that Trump may be banned from “any American real-estate transactions if they include business in New York.”
Trump and his adult sons, Eric and Donald Jr, are co-defendants in a $370 million civil fraud trial filed by New York Attorney General Letitia James. She accuses the Trump Organization, under the direction of Trump and his adult sons, of inflating financial assets to obtain favorable bank loans and defraud insurance companies while building their real estate empire.
According to Newsweek, James “asked a judge to ban Trump from the real-estate industry for life as punishment for fraudulently inflating the value of his assets.”
Judge Arthur Engoron’s decision could come as soon as Tuesday after slamming the brakes on a final judgment that was supposed to come as early as Jan. 31.
Paul Golden, a partner at New York law firm Coffey Modica, explained to Newsweek how Judge Engoron could punish Trump in a way that affected his business outside New York as well.
“Even if Hon. Engoron cannot bar the Trump defendants from engaging in the real-estate business outside New York, it is possible he could issue a judgment which indicates that, to the degree the Trump defendants’ future non-New York business could affect New Yorkers, such activity would be barred,” Golden said.
Only time will tell if the ruling goes against Trump.
[Newsweek]
