Former U.S. President Donald Trump leaves a Manhattan courthouse after attending the first day of the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, in New York City, U.S., October 2, 2023. REUTERS/Eduardo...in Manhattan on Tuesday in a case that threatens to dismantle parts of the former U.S. president’s business empire and sharply curtail his ability to do business in New York.
Democratic Attorney General Letitia James is seeking at least $250 million in fines, a permanent ban against Trump and his sons Donald Jr. and Eric from running businesses in New York and a five-year commercial real estate ban against Trump and the Trump Organization.and canceled business certificates for companies that control crown jewels of his portfolio, including Trump Tower and 40 Wall Street in Manhattan. Engoron said he would appoint receivers to oversee their dissolution.
Trump’s lawyer Christopher Kise said during his opening statement that Trump’s valuations actually understated the value of his assets and were based on the business acumen that allowed him to build “one of the most successful real estate empires in the world.”