Judge rescinds asset-sale order, allowing Trump to maintain his New York empire

Former U.S. President Donald Trump was banned from doing business in New York for three years and ordered to pay $354 million for lying about his wealth, but one thing missing from the judge’s order was an earlier edict to dissolve all the companies the billionaire owns in the state.

In a surprise move, Justice Arthur Engoron backed off Friday when he issued punishments in the civil fraud case, walking back his earlier ruling and leaving Trump’s control over his New York empire largely intact — for now. Instead, the judge said any decision about forced sales would depend on what two appointed monitors learn about individual Trump businesses.

Back in September, the judge ordered the cancellation of all Trump Organization business licenses in New York after concluding before the trial that the real estate mogul was liable for a decade of fraud as alleged by the state in a lawsuit. That could have led to a messy liquidation process that threatened to expose Trump’s murky private businesses.