Former President Donald Trump could soon face the dissolution of his New York business empire for continuously misleading lenders on financial statements despite a lack of victims and major losses that traditionally prompt such a grave punishment.
In the last 70 years, only about a dozen civil cases have had as severe consequences. Yet Trump’s case is entirely unique because it is the only major business threatened with being shut down without proof of severe losses and clear victims, according to an Associated Press report. In New York’s anti-fraud law, or Executive Law 63(12), the attorney general just has to show evidence of “repeated fraudulent or illegal acts,” regardless of whether anyone lost money or was deceived.
“This is basically a death penalty for a business,” Columbia University law professor Eric Talley told the outlet. “Is he getting