Donald Trump’s real estate empire could be saved by his wife, former first lady Melania Trump, after he was barred from conducting business in New York for three years. Judge Arthur Engoron ruled against Trump after a months-long trial involving accusations brought by New York Attorney General Letitia James that the former president and his business, The Trump Organisation, deceived banks and insurers for years to obtain better financial terms. In total, Trump and his associates, including his eldest sons, Donald Jr. and Eric, were ordered to pay $364 million in fines.
The ruling also bars Trump and former associates Allen Weisselberg and Jeffrey McConney from “serving as an officer or director of any New York corporation” for three years. Donald Jr. and Eric, both executives in their father’s organization, are also banned from conducting business for the next two years. Legal experts previously assessed that the former president would be able to hold on to his properties even if barred from conducting business by transferring his company to his family members not included in James’ case.
Engoron’s order prevents Trump and his sons from serving as officers or directors in New York, but they can still be shareholders. Legal experts previously assessed that the reverse of Enogoron’s previous cancellation of Trump’s business licenses was the former president’s “only win,” adding that if Trump needs a family member to serve as a director or officer to run the business, Melania or Ivanka can fill those roles.
