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Actually enforcing such penalties would be “a major blow to Donald Trump’s ability to do business in the State of New York going forward,” Will Thomas, a professor of business law at the University of Michigan, told AFP.
Under that kind of pressure, Trump — who made his reputation and fortune as a real estate mogul in the 1980s and had promised to bring his cut-throat industry tactics to the Oval Office — could eventually lose control over many of his company’s flagship properties, such as his 5th Avenue Trump Tower in Manhattan.
According to Attorney General James, a Democrat, Trump’s own apartment in that building is among the spaces that were fraudulently overvalued — it was listed as three times bigger than its true size.
Another Manhattan building, at 40 Wall Street, was overvalued between $200-$300 million in financial disclosures, James alleges.
Trump’s luxury Mar-a-Lago resort in Florida — the site of the classified documents drama — and several other Trump Organization golf clubs also appear in James’s complaint.
– High-profile witnesses –
Trump has repeatedly dismissed the New York civil allegations, calling James, who is Black, “racist,” and labeling Engoron “deranged.”
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