{"id":2162436,"date":"2024-01-29T19:19:02","date_gmt":"2024-01-30T00:19:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trumps-fraud-case-could-be-first-time-new-york-shuts-down-big-business-with-no-clear-victims\/"},"modified":"2024-01-29T19:23:28","modified_gmt":"2024-01-30T00:23:28","slug":"trumps-fraud-case-could-be-first-time-new-york-shuts-down-big-business-with-no-clear-victims","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trumps-fraud-case-could-be-first-time-new-york-shuts-down-big-business-with-no-clear-victims\/","title":{"rendered":"Trump&#8217;s fraud case may mark New York&#8217;s first shutdown of a major business without evident victims"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrumps-fraud-case-could-be-first-time-new-york-shuts-down-big-business-with-no-clear-victims%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2162436&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Trump&#8217;s\u2062 New York Business Empire Faces Potential Dissolution<\/h2>\n<p>Former President Donald Trump&#8217;s New York business empire is on the brink of collapse as he faces allegations of continuously misleading lenders on\u2062 financial statements. This unprecedented situation could result in the dissolution of his major business, despite the absence of clear victims and\u200c significant losses that typically warrant such severe consequences.<\/p>\n<p>In the past 70 years, only a handful of civil cases have\u2064 had such grave \u2064implications.\u2063 However, Trump&#8217;s case stands out as the sole major business facing potential shutdown without \u2062concrete evidence of substantial losses or victims, according to\u200c a report by the Associated Press. Under \u200bNew York&#8217;s anti-fraud law, the \u2062attorney\u2062 general only needs to demonstrate &#8220;repeated fraudulent or\u2064 illegal acts,&#8221; regardless of \u2062whether anyone suffered financial harm \u2063or was deceived.<\/p>\n<blockquote>\n<p>&#8220;This is essentially a death penalty for a\u200b business,&#8221; remarked Eric Talley, a law professor \u2062at Columbia University. &#8220;Is Trump facing this punishment solely due to his fraudulent actions, or \u2063is it because people simply don&#8217;t like him?&#8221;<\/p>\n<\/blockquote>\n<p>State attorneys argue that Trump&#8217;s violation of ethical\u2062 business practices warrants severe consequences in his civil trial. However, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/u-s-turmoil-global-perspective-and-impact\/\" title=\"Global Impact of U.S. Turmoil\">legal experts express concerns<\/a> that if Trump is found liable and subjected to the maximum penalty, it could establish \u200ca dangerous precedent that could potentially destroy businesses in the future.<\/p>\n<p>In their analysis of 150 cases, the publication found that nearly all the cases that called for &#8220;dissolution&#8221; involved significant losses and victims. Remarkably, there was only\u2064 one instance in which a company was liquidated without any victims or losses: a relatively small business that provided essay-writing services for college students, which was shut down in 1972 due to concerns about \u200cthe integrity of the educational process.<\/p>\n<p>Last \u200cyear, Judge Arthur Engoron ruled that Trump had committed business fraud \u200cby submitting exaggerated financial statements\u200b to Deutsche Bank over an 11-year period. Engoron partially agreed with New York Attorney General Leticia James&#8217;s recommendation, which held Trump accountable for repeated business fraud. James requested that Trump be permanently barred from conducting business in \u2062the Empire State\u200b and demanded a payment of $370 million.<\/p>\n<p>Engoron is expected \u200dto issue a decision in the coming weeks that will clarify\u2063 the dissolution and liquidation of Trump&#8217;s properties, as well as the financial penalty he\u2064 will \u200bface.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\/\">CLICK HERE TO READ MORE\u200d FROM\u2063 THE WASHINGTON EXAMINER<\/a><\/p>\n<p> <\/p>\n<h2> How\u200b does the\u2063 absence of\u2064 clear victims or significant losses complicate the potential dissolution of Trump&#8217;s New York business empire?<\/h2>\n<p><span>  Business law, the dissolution of a\u200d company requires clear evidence of fraudulent practices or substantial harm to\u200b stakeholders. In Trump&#8217;s case, the allegations\u2063 revolve around inaccurate financial statements provided to lenders, rather\u200b than direct harm to investors or creditors.<\/p>\n<p>The situation has sparked a debate on the\u200b extent to which a \u200bbusinessman&#8217;s actions can lead \u2063to the dissolution of their business. Traditionally, the dissolution of a\u200c major business is seen as a measure to protect the\u200d interests of stakeholders who have suffered significant losses or have been directly affected by the company&#8217;s misconduct.<\/p>\n<p>Critics argue that \u2062without clear victims or substantial losses, dissolving Trump&#8217;s business would set a dangerous\u2063 precedent. They argue that\u2064 such a move would open the door for \u200bother businesses to be dissolved on mere allegations, without sufficient evidence of actual harm.<\/p>\n<p>However, supporters of potential dissolution argue that\u2064 the case is not about direct financial losses to stakeholders, but about\u200c the integrity of the business and the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/i-get-caught-up-and-i-spiral-tom-holland-announces-hes-taking-a-break-from-social-media-for-mental-health\/\" title=\"\u2018I Get Caught Up And I Spiral\u2019: Tom Holland Announces He\u2019s Taking A Break From Social Media For Mental Health\">potential harm caused<\/a> by misleading lenders. They argue that if lenders are\u2063 deceived by inaccurate financial\u2062 statements, it undermines the trust\u2062 and credibility of the entire business.<\/p>\n<p>In\u2064 recent years,\u200d several high-profile cases have highlighted the need for stricter accountability in the\u2063 corporate world. The collapse of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pics-greta-thunberg-joins-london-protest-tells-banks-to-stop-funding-our-destruction\/\" title=\"PICS: Greta Thunberg Joins London Protest, Tells Banks to 'Stop Funding Our Destruction'\">major financial institutions<\/a> during the 2008 financial crisis sparked widespread calls\u2062 for increased transparency and responsibility. In this context, holding business leaders accountable for their actions, especially when it comes to providing accurate financial information, \u200dhas become a priority for regulators and stakeholders.<\/p>\n<p>The\u2064 potential dissolution of Trump&#8217;s New York business empire is a high-stakes case that could have far-reaching implications. It will likely be closely examined by legal experts, lawmakers, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/unemployment-falls-biden-takes-credit-despite-lingering-economic-concerns\/\" title=\"Unemployment Falls, Biden Takes Credit Despite Lingering Economic Concerns\">business leaders alike<\/a>. The decision made in \u2063this\u200b case may set a new precedent for holding business leaders accountable for their actions and shaping the future of corporate\u2063 governance.<\/p>\n<p>In conclusion, \u2064Trump&#8217;s New\u2064 York business empire faces the\u200c potential dissolution amid allegations of misleading lenders on financial statements. The absence of clear victims or significant losses complicates the situation, as it raises questions about the grounds for such severe consequences. This case is likely to \u200dhave far-reaching implications and will be closely monitored by legal experts and stakeholders, as it could shape the future of corporate accountability and governance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former President Donald Trump&#8217;s New York business empire may be dissolved due to his consistent deception of lenders on financial statements. This severe punishment is uncommon, as it typically follows significant losses and victims, which are absent in this case. Over the past 70 years, only a few civil cases have faced such grave consequences<\/p>\n","protected":false},"author":2669,"featured_media":2162437,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2162436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2162436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2669"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2162436"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2162436\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2162437"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2162436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2162436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2162436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}