NY Appeals Court Pauses Breakup Of Trump Businesses

A New York state appeals court temporarily halted the dissolution of some of Donald Trump's most valuable properties as it considers the former US president's appeal in a civil fraud case, as reported by Jack Queen for Reuters.

The trial aims to determine the penalties Trump, along with ten of his companies and his two adult sons, must pay for allegedly inflating his net worth to secure more favorable loan terms.

The ruling by the New York Appellate Division suspends the enforcement of a September order by Justice Arthur Engoron, who found Trump and his family business guilty of fraud, leading to the loss of control over companies that own key assets of his real estate empire, including Trump Tower and 40 Wall Street in Manhattan.

It's important to note that this move by the court does not indicate its decision on the appeal, which may take over a year. In the same ruling, the appeals court also rejected Trump's attempt to halt a trial that began last week.

This trial aims to determine the penalties Trump, along with ten of his companies and his two adult sons, must pay for allegedly inflating his net worth to secure more favorable loan terms.

Donald Trump, the leading candidate for the 2024 Republican presidential nomination, has consistently denied any wrongdoing and has labeled the case as part of a political witch hunt.

The lawsuit, initiated by New York Attorney General Letitia James, accuses Trump of exaggerating the value of his assets by billions of dollars to gain hundreds of millions of dollars in illegitimate savings on loan interest.

It seeks at least $250 million in fines, a permanent ban against Trump, his sons Donald Jr. and Eric from managing businesses in New York, and a five-year prohibition on Trump and the Trump Organization from participating in commercial real estate activities.

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