George Conway Shows Why Trump Ruling Is Corporate Death Penalty

Conservative attorney George Conway said a New York judges decision on Tuesday could mean the end of Donald Trump s family business in New York.

Its essentially the equivalent of the corporate death penalty for the Trump Organization in New York state, Conway said on CNN on Tuesday night.

Judge Arthur Engoron ruled that Trump committed fraud for years by overvaluing his assets and net worth to obtain loans, and ordered the dissolution of some of former presidents companies.

Trump claimed the ruling was a violation of his civil rights, and insisted that he had done business perfectly.

But Conway explained that the judge found Trump guilty of violating the Martin Act, an extremely powerful weapon that the state can use against fraudsters.

He said the act doesnt require proof of fraudulent intent, and doesnt require evidence that the false numbers were relied on by anyone. All it requires are that the numbers are false.

And in Trumps case there was no dispute that the numbers were false, and substantially so, Conway noted.

Conway said the act allows for extraordinary remedies, including stripping a company of its ability to do business in the state and ordering the dissolution of the business, which is what the judge decided on Tuesday.

No matter what he finds in the damages phase of this trial, the Trump organization is out of business, he said. And thats not good for Donald Trump.

Trump vowed to appeal.

Conway spoke with CNNs Wolf Blitzer and Laura Coates:

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