What Trump's New York fraud conviction means for his business empire

A New York judge has ordered many of Trump's companies to be placed into receivership and dissolved, but questions remain

Donald, Eric, and Don Jr. Trump
Donald Trump and sons Eric and Don Jr.
(Image credit: Jonathan Ferrey / LIV Golf via Getty Images)

New York Supreme Court Justice Arthur Engoron ruled Tuesday that former President Donald Trump, his two adult sons and two other Trump Organization executives committed repeated and persistent fraud by grossly inflating the value of Trump properties, allowing them to obtain dishonestly favorable terms on loans and insurance.

Engoron ordered that many of Trump's New York business licenses be revoked and the companies that own or control of some of his signature properties be placed in receivership and dissolved. If the ruling, in a civil lawsuit brought by New York Attorney General Letitia James, isn't overturned on appeal, The New York Times reported, it could shut down several Trump business entities in New York, "effectively crushing the company."

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Peter Weber, The Week US

Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.