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Appeals Court Trumps Trump's New York Business License Loss

By Michael DeRienzo, Esq. | Last updated on

The life of a former president is usually quite dull. While some have gone on to become Nobel laureates, most retire back to their homes and take up hobbies like painting and podcasting. And then there is former President Donald Trump. Since leaving office, President Trump has faced a myriad of legal issues, and now it seems, his businesses are facing the same issues as their namesake.

Trump's Worth Inflated, Says New York AG

The net worth of Donald Trump has been a hotly debated topic for years. While running for president in 2016, Trump famously refused to release his tax returns. In fact, Trump himself did not release the documents, it took an act by the House of Representatives. Further, the returns themselves showed Trump was not the successful businessman he portrayed to be, with multiple years of losses from his companies.

This is more than just an image issue. In September 2022, New York Attorney General Letitia James filed a 222-page civil complaint against Trump, his family, and his limited liability companies seeking $250 million in damages. The complaint detailed specific instances where the defendants defrauded the public and banks by inflating the worth of the businesses and individuals, including by as much as $2.2 billion in one year.

Judge Agrees with AG and Revoked Licenses Pretrial

In a surprising ruling, the judge found Trump and his adult sons liable for fraud and ordered the New York business licenses canceled. This includes the world-famous "Trump Organization" and all of its New York landmarks, including "Trump Tower." However, the ruling did not immediately dismantle the Trump Organization as it only targeted organizations inside New York.

The Trial Begins

On October 2, 2023, the trial began, and Trump himself attended. Before entering the courtroom, Trump told reporters that the case itself was a "political witch hunt" and called for the judge to be disbarred.

On day two, the judge had enough of Trump's complaints about the court and its staff and issued a gag order. The gag order threatened serious sanctions against any party that spoke out against the judge's staff.

By day three, the judge had enough of Trump and his attorney, lashing out against the attorney for a "ridiculous "cross-examination.

And this is just the first three days. However, as the trial is expected to last three months, there are bound to be a few more surprises over the next few weeks.

Appeals Court Pauses Cancel Order

One such surprise came earlier than expected. Just five days into the trial, a New York state appeals court paused the order canceling Trump's business licenses. The pause is not indefinite though, as the ruling specifically paused until the end of the appeal process.

Trump rose in the polls and is still the frontrunner to be the 2024 Republican Nominee. He may not be able to own Trump Tower anymore, but the White House is not a bad place to live.

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