August 11, 2022

I knew this was possible, but I never heard it even threatened before. I can't think of anything that would wound Trump more than losing his corporate charter, so of course I'm all for it. Via Business Insider:

In the coming weeks, the AG is expected to file a massive, long-threatened "enforcement action" — essentially a multi-hundred-page lawsuit against the Trumps and his Manhattan-based business.

The lawsuit will seek steep financial penalties for an alleged decadelong pattern of playing fast and loose with the assessed values of Trump Organization properties.

[...] James has signaled she will also seek the dissolution of the business itself under New York's so-called corporate death penalty -- a law that allows the AG to seek to dissolve businesses that operate "in a persistently fraudulent or illegal manner."

"This cuts right to the crown jewel of his real estate portfolio," said Tristan Snell, lead prosecutor on the New York attorney general's separate, successful investigation into Trump University.

In the interview, Snell points out that in a civil case, taking the 5th Amendment is considered to be equivalent to an admission of guilt. Trump has a lot at stake:

"It's everything, because at issue is Trump Tower [where the Trump Organization is headquartered in Manhattan], at issue is 40 Wall Street, which is one of his most beloved properties and probably one of the more valuable ones," Snell told Insider.

"All of his golf courses are also at stake, so it's a big deal," added the ex-prosecutor, who went on to found, a firm focused on helping small and medium-sized businesses.

"Trump would basically have to divest of his properties," Snell said. "He could try some sleight of hand and have his operations be covered under some other new sort of corporate entities, but it would definitely be a significant black eye."

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