Former President Donald Trump faced a setback as a judge barred him from conducting business in New York for three years, a ruling stemming from allegations of financial deception against him and The Trump Organization, his business entity. The trial, prompted by accusations from New York Attorney General Letitia James, concluded with Trump and his associates ordered to pay $364 million in fines.
Judge Arthur Engoron’s decision not only imposed fines but also prohibited Trump, along with former associates Allen Weisselberg and Jeffrey McConney, from holding positions in any New York corporation for three years. Trump’s sons, Donald Jr. and Eric, also received bans on conducting business for two years due to their executive roles in the organization.
However, there might be a lifeline for Trump’s businesses through other family members like his wife Melania Trump or eldest daughter Ivanka. Legal experts suggest that transferring the company’s control to family members not implicated in James’ case could allow Trump to retain ownership of his properties.
While Engoron’s order initially dissolved Trump’s business licenses in October, the recent ruling deferred any potential restructuring to Barbara Jones, the court’s independent monitor, whose tenure was extended by three years. Neama Rahmani, president of West Coast Trial Lawyers, explained that while Trump and his sons are restricted from managerial roles, they can still retain ownership as shareholders, leaving room for Melania or Ivanka to step in and oversee operations.
Ivanka Trump, originally named in James’ case but later removed, remains unrestricted in her potential involvement. She testified during the trial, revealing financial transactions between Trump and his children.
Melania Trump’s former chief of staff, Stephanie Grisham, suggested that Melania might consider rescuing her husband’s businesses, but only with assurances of significant control and power. Grisham highlighted potential concerns about financial liabilities and tax obligations.
Trump’s attorney, Christopher Kise, criticized Engoron’s ruling as unjust and politically motivated. Trump maintains his innocence and plans to appeal the decision, confident that higher courts will rectify what he perceives as errors.
The future of Trump’s real estate empire may hinge on the involvement of family members like Melania or Ivanka, who could play pivotal roles in navigating the aftermath of the legal proceedings.
