Posted on Oct 1, 2023
Trump's N.Y. business empire is 'greatly at risk' from judge's fraud ruling
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https://www.npr.org/2023/09/29/ [login to see] /trump-fraud-ruling-new-york-business-empire-judge
Donald J. Trump's sprawling web of businesses in New York faces grave danger and could unravel swiftly after this week's fraud ruling by a state Supreme Court judge, legal and business experts say.
The summary judgment issued Tuesday concluded that the former president and his associates, including sons Donald Trump Jr. and Eric Trump, systematically overvalued corporate assets over a period of years.
In one instance, they falsely inflated the total square footage of a commercial building by 300 percent, the ruling concluded. They also valued rent-controlled apartments equally with buildings where landlords are free to set their own prices.
Donald J. Trump's sprawling web of businesses in New York faces grave danger and could unravel swiftly after this week's fraud ruling by a state Supreme Court judge, legal and business experts say.
The summary judgment issued Tuesday concluded that the former president and his associates, including sons Donald Trump Jr. and Eric Trump, systematically overvalued corporate assets over a period of years.
In one instance, they falsely inflated the total square footage of a commercial building by 300 percent, the ruling concluded. They also valued rent-controlled apartments equally with buildings where landlords are free to set their own prices.
Trump's N.Y. business empire is 'greatly at risk' from judge's fraud ruling
Posted from npr.org
New York City
Donald Trump
Fraud
Business
Real estate
Posted 1 y ago
Responses: 2
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"Greatly at Risk?" I'd guess he is pretty close to dead in the water over them killing his ability to do business in NY. I know he will appeal but I don't see them over turning the outcome.
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The “Judge” ruled Mar a Lago worth 13 million. An empty two acre lot is for sale for $200 million.
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SPC Kieran Jackson
Yes sir, that does sound like a huge disparity in value. However, the $200M property could be overpriced. Also, having structures on a parcel in some instances can lessen its value. Appraisals used for court purposes might not be based on the Sales Comparison Approach.
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