On Tuesday, attorneys for disgraced former president Donald Trump withdrew a lawsuit against New York Attorney General Letitia James challenging her investigation of the Trump Organization.
But despite that move, it’s now clear that James is on the verge of applying New York’s “corporate death penalty” against the failed ex-president’s company, a move that would forbid Trump Org. from ever operating the Empire State again, according to The Daily Beast
It’s called Executive Law 63 (12) and it gives states attorney generals the right to impose stiff penalties on companies to fight fraud.
“The language is broad. It talks about persistent fraud and illegality,” said Bob Abrams, who served as New York attorney general from 1979 to 1993. “She has the authority to protect the public from scammers.”
Scammers who hatch ideas such as Trump University for the sole purpose of taking advantage of people for financial gain without providing anything of value.
As a result of her investigation of fraud by Trump Org., James is seeking to impose $250 million in fines and revoke the company’s business credentials completely, meaning Trump would never be able to do business in the state again, even though New York is the headquarters for his corporation, which is run by the former president and his three eldest children, Don Jr., Ivanka, and Eric.
The judge in the case, Arthur F. Engoron, has already signaled that he would be agreeable to imposing the death penalty on Trump Org., writing in one of his rulings:
“Executive Law § 63 (12) broadly empowers the Attorney General of the State of New York to seek to remedy the deleterious effects, in both the public’s perception and in reality, on truth and fairness in commercial marketplaces and the business community.”
How soon could all of this happen? Likely sometime this year since many of the initial court hearings and rulings have already been handed down, including one which found that Trump Org. did indeed inflate the value of properties in order to get larger bank loans and then devalue them to avoid large tax bills.
The Trump Organization is about to become little more than an afterthought, and that’s bad news for the entire Trump family, which has enriched itself over the decades as a result of their corporate grifts and scams.
Tish James is preparing to drop the hammer on Trump and his company. And when she does, you’ll be able to hear Donald crying all the way across the country.
