Former prosecutor outlines the biggest hit Donald Trump’s company took in ruling

The summary judgment finding former President Donald Trump and his adult sons liable for fraud is a massively consequential ruling — and could lead to the shutdown of the Trump Organization in New York altogether.

That is the cautious take of former federal prosecutor Glenn Kirschner, who weighed in on MSNBC.

"There is not — certainly in the minds of New Yorkers and people who have known Donald Trump for a long time and the way he does around here — not a lot of questions to what these were because it's a ledger issue," said anchor Ali Velshi. "He would claim something to be $11 million, and the other side he would claim less. How important is this development in the pantheon of legal challenges Donald Trump is facing right now?"

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Kirschner admitted he hadn't read the full filing but tried to plow through the 35 pages. Thus far, what he was able to discern was "that the conclusions are really remarkable."

"The judge grants Tish James' motion for summary judgment," said Kirschner. "And that means there are no issues of fact that have to be resolved by the jury, and it is so clear there was repeated, persistent fraud by Trump and others, that he is ruling in favor of Tish James and the People of New York."

"Here is just some of what we see in the judge's conclusions," continued Kirschner. "He says the plaintiff's summary judgment is granted in part and Trump and others — and I'll read the others in a moment — are liable as a matter of law towards persistent violations of Executive Law Section 6312. What is that? Well, that is for repeated fraudulent or illegal acts in conducting business."

When that happens, the attorney general can stop the business and people involved out of fear of fraud.

"So, what the judge has said is that he wants three independent receivers to be named or recommended to, quote, 'manage the dissolution of the canceled LLC.' I'm almost loathed to interpret that, but it sounds like he's bordering the immediate post-cancellation of the LLC, that is the Trump Organization," Kirschner went on.

Additionally, the judge immediately appointed retired Judge Barbara Jones, who will serve as the monitor of the Trump Organization until further notice.

"Barbara Jones is a familiar name to many of us because she was appointed as the person who oversaw the review of the materials, the evidence that was seized, I believe, from both Michael Cohen and Rudy Giuliani some years back to go through what we call a tainted review, to make sure there were no attorney-client privilege materials turned over to the prosecutors," he continued. "And so the judge also says he is canceling all business certificates filed by Donald Trump, Don Jr., Eric Trump, Allen Weisselberg, and Jeff McConney."

"So Ali, I'm kind of loathe to go beyond that and interpret what this means, but taken on its face, the plain meeting at the conclusion of this 35-page order by the judge is he seems to be ordering the dissolution of the Trump Organization," Kirschner added.

Watch the video below or at the link here.

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