A judge on Tuesday ruled that Donald Trump and his company are liable for fraud by misstating the true values of multiple real estate properties for years and thus grossly overstating the former president’s net worth by billions of dollars.
Judge Arthur Engoron in his bombshell decision also canceled the New York business certificates of Trump, the Trump Organization, and the other defendants, including two of his sons, in a lawsuit by the state Attorney General’s Office.
The judge said he would appoint an independent receiver to manage the dissolution of the corporations whose business certificates he canceled.
It is not clear whether Engoron’s decision means the Trump Organization and related entities will have to completely cease doing business in New York, or whether the companies can be legally reconstituted later.
The judge added that if liability for fraud is established under New York law, that statute allows the attorney general to obtain an order enjoining defendants from continuing to do business or “any fraudulent or illegal acts.”
Even after Engoron appointed an independent financial monitor for the Trump Organization last year, “defendants have continued to disseminate false and misleading information while conducting business,” the judge wrote.
“This ongoing flouting of this Court’s prior order, combined with the persistent nature of the false [statements of financial condition] year after year, have demonstrated the necessity of canceling the [defendants’ business] certificates ... as the statute provides,” the judge wrote.
I'm not sure where that part of the post comes from. The source says "The judge said he will apppoint(sic) an independent receiver to manage the dissolution of the corporations whose business certificates he canceled." Which I can only take to mean that the judge is doing the appointing, not Trump.
Being a financial crime or whatever, the result will likely just be fines or restitution at worst (because rich people are involved) that will probably be neutered further in appeals.
IOW, nothing he hasn’t probably seen before, and nothing with any serious teeth that will prevent him from carrying on being the POS he is.
Having watched a lot of Louis rossmann videos on NY, you need those displayed at your business to be allowed to operate it. If you do not have them, they will shut you down and fine you.
Whether or not they will enforce it here is another question, but NY seems to not fuck around with that, since corporate taxes and fines are a large contributor to their state income.
It's not just an issue for the government. Banks will not open accounts for you if you aren't registered with the state you do business in. If you already have accounts and they find out you are no longer registered, they close your accounts.
No, you can't use an old registration. They check an online database with the secretary of state. It updates daily.