After a New York judge’s ruling that Trump built his fortune on ‘fraud,’ the former President’s real estate empire could collapse “like falling dominoes”, experts believe.
According to Michael Cohen, Trump’s former attorney, Trump is already effectively “out of business” after Judge Arthur Engoron rescinded the licenses of the Trump Organization.
“Those companies will end up being liquidated … the judge has already determined that the fraud existed,” Cohen told CNN.
And at a hearing on Wednesday afternoon, Trump’s legal team asked Engoron if his ruling meant Trump’s assets and businesses must be sold, or if they could continue to operate under receivership.
Experts speculate that Trump would need to sell his most well-known real estate assets, starting with Trump Tower in New York, including golf courses and resorts around the US, and even his Mar-a-Lago club in Florida.