Donald Trump's business empire in peril as civil fraud trial opens in New York

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Donald Trump and his family business are set to stand trial in New York on Monday in a civil fraud case that could deal a major blow to the former U.S. president’s real estate empire.

A supporter of former U.S. President Donald Trump holds up a U.S. national flag at Trump Tower in New York City, U.S., October 1, 2023.

Engoron canceled business certificates for companies controlling pillars of Trump’s empire -- including Trump Tower and his golf clubs in New York -- and said he would appoint receivers to oversee their dissolution. James alleges Trump reaped hundreds of millions of dollars in ill-gotten savings by "grossly" inflating the values of his assets to get better deals from lenders and insurers.

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