An opinion by Manhattan Supreme Court Justice Arthur Engoron released on Tuesday regarding the activities of various Trump Organization entities rightly held that they have persistently violated provisions of the Executive Law by committing “repeated fraudulent or illegal acts” in grossly inflating the value of various Trump properties in financials provided to various lenders.
Following that determination, the judge held that independent receivers will be appointed to manage the dissolution of cancelled Trump limited liability companies. Numerous commentators have indicated that the judgement may lead to the loss of former President Donald Trump’s New York real estate.
