AP’s review of nearly 150 cases since New York’s “repeated fraud” statute was passed showed that nearly every previous time a company was taken away, victims and losses were key factors.

"Within days, Donald Trump could potentially have his sprawling real estate business empire ordered ‘dissolved’ for repeated misrepresentations on financial statements to lenders, adding him to a short list of scam marketers, con artists and others who have been hit with the ultimate punishment for violating New York’s powerful anti-fraud law,” the AP reports.

“An Associated Press analysis of nearly 70 years of civil cases under the law showed that such a penalty has only been imposed a dozen previous times, and Trump’s case stands apart in a significant way: It’s the only big business found that was threatened with a shutdown without a showing of obvious victims and major losses.”

  • MacGuffin94@lemmy.world
    861·
    9 months ago

    I’m really tired of so many people saying that doing something as a consequence for Trump’s actions would set a new precedent. So many things that he has done are unprecedented. There is no FAQ for when the president refuses to transfer power or when a “billionaire” politician is caught perpetrating decades of multitudes of types of fraud.