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An appeals court in New York ruled Friday that former President Donald Trump and his family could keep their New York properties and business certificates — for now.
If the former president’s New York business license is ultimately revoked, a court-appointed receiver would take possession of all Trump’s businesses within the state, where they would be sold to the highest bidder. Trump would receive the proceeds and still be able to manage his properties outside New York, despite Engoron determining Trump overvalued his Mar-a-Lago estate in Florida by 2,300 percent and other properties throughout the country and one in Scotland.
Along with Trump Tower in Midtown, New York City, Trump would lose control of Trump Park Avenue on the city’s famous Fifth Avenue. Trump National Golf Club Hudson Valley and Westchester would also befrom the former president’s control. Trump is also at risk of losing other properties on 40 Wall Street, 1290 Ave. of the Americas, and 4-6 E. 57th Street, to name a few.
The government doesn’t usually sue on behalf of big businesses that have their own well-staffed legal departments to protect them. James seems to be taking this approach because New York law empowers the attorney general to seek damages caused by fraudulent business behavior as a form of consumer protection. The law doesn’t require the prosecutors to identify a victim or even demonstrate anybody suffered harm.
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