Trump Organization ordered to be dissolved

Former President Donald Trump, his top executives, and heirs were declared completely liable of “persistent and repeated fraud”—and the real estate empire was unceremoniously stripped of its business licenses in New York—after a judge’s powerful ruling Tuesday ahead of a massive trial that seeks to hit them with more than $250 million in penalties for bank fraud.

And in a stunning development, the judge has already ordered the complete dissolution of the fabled Trump Organization–the tycoon’s pride and joy, the empire that made him famous and elevated him into the White House. The Trump Organization and its sister companies will be sent into receivership to be under the control of a court-appointed officer.

Even before the trial officially starts, the ruling handed New York Attorney General Letitia James a near total victory, meaning that next week’s trial will mostly focus on damages that could pulverize whatever is left of Trump’s many business entities and bank accounts.

[...]

The judge seemed particularly annoyed at what he described as the Trumps’ inability to run their business ethically. He had previously assigned a former federal judge to oversee aspects of the Trump Organization to ensure that it did not slyly shift assets ahead of the trial—only to discover that executives wouldn't let the court-appointed monitor do her job.

[...]

Trump, several of his heirs, and top executives will now be fighting off accusations of bank and insurance fraud at a civil trial that’s scheduled to run from early October until late December.

[...]

Engoron also decided to impose sanctions on the Trumps’ lawyers over the AG’s accusations that they have acted unprofessionally by raising ridiculous arguments and delaying the case this long.

[...]

“Unfortunately, sanctions are the only way to impress upon defendants’ attorneys the consequences of engaging in repetitive, frivolous motion practice after this court, affirmed by the appellate division, expressly warned them against doing so,” he wrote. He ordered the entire Trump legal team—Michael Madaio, Clifford S. Robert, Michael Farina, Christopher Kise, and Armen Morian—to each pay $7,500, a punishment that will also serve as a blemish on their professional records.

[...]

The timing of this decision also throws a wrench into the Trumps’ Hail Mary play, in which they sued the judge directly and prematurely asked a state appellate court to intervene because he hadn’t yet made his decision on the statute of limitations—an oddly aggressive move that reeked of delay tactics. That higher court, the appellate division’s First Judicial Department, has yet to weigh in. Doing so now might be a moot point. As such, the trial appears to be set to start next Monday, as planned.

  Yahoo

I'm sure they'll appeal, but as it stands, Trump Org (all Trump LLCs) is essentially kaput.

If the judge’s scathing decision withstands an appeal from Trump’s lawyers, it will be the first time a government investigation into the former president has resulted in punishment. It will also deal the biggest blow yet to his persona as a successful tycoon.

  Guardian

...but hey, do what you want...you will anyway.

UPDATE :

Also...will Trump fire Alina Habba? Sue her?

Disgraced former president Donald Trump will face judgment handed down from the bench, rather than a jury box in his Manhattan trial.

The question, however, is: did Donald Trump’s attorneys screw up, or is he intentionally muddying the waters?

It’s not clear why the former president would choose not to have a jury trial, which is clearly his right as a defendant when he’s claimed the judge is biased against him. This raises questions about whether he’s aware of what his attorneys are doing (and whether those lawyers are actually competent).

[...]

But then, perhaps Trump himself doesn’t know. He posted on September 1st (edited because all-caps is uncomfortable to read):

“In the NYS A.G. Letitia James case, I was targeted, given no jury, no extensions, no commercial division, no constitutional rights, no anything! The Democrat judge hates Trump with a passion!”

He was, indeed, denied an extension.

[...]

He was also denied a move to the commercial division.

[...]

The jury, though, is a clear and straightforward matter — if Trump’s attorney had requested one, he would have been granted a jury. [...]

“Donald Trump’s lawyer Alina Habba forgot to post the fees and give the notice to request a jury. In New York, within 15 days of a lawsuit you have to make a jury demand…so Donald Trump accidentally — which in my opinion could be legal malpractice — waived the jury trial and that’s why it’s going to go in front of Judge Arthur Engoron.”

Whether it was merely a mistake from an attorney whose job description may rely more heavily on Fox News appearances than court appearances, or a desperate hope to find an excuse for an appeal, the failure to request a jury trial may be a serious miscalculation on Trump’s part.

  Occupy Democrats

Or Trump's attorney's part. Pretty sure he WOULDN'T choose a bench trial. But maybe? He probably doesn't trust a New York jury. But he'd at least have a chance that there would be one hold-out on it. Maybe they were gambling on getting a more favorable judge. Whatever. He can appeal either way.  If Habba can't (or won't) prove Trump asked to waive a jury, he'll have plenty standing to appeal.

UPDATE 05:59 pm:

UPDATE 06:25 pm:

Yep.  Gonna be a yuge mess.