How Donald Trump’s Conviction Impacts His Business

Former President Donald’s Trump conviction for falsifying business records may not stop him from operating his business but could make it more challenging going forward, legal experts said.

Trump’s business assets include golf courses and real estate properties such as the Trump Tower building in New York City and the Mar-a-Lago Club in Palm Beach, Florida. He also owns a majority stake in the Trump Media & Technology Group Corp. (TMTG), which manages the social media platform Truth Social.

Some legal experts told Newsweek that Trump, who is presumptive Republican presidential nominee to face President Joe Biden in November, is likely to continue to be able to manage his businesses.

“From a practical standpoint, it does not impact his ability to operate,” Massimo D’Angelo, a real-estate lawyer at Blank Rome, told Newsweek.

His comments echoed other analysts who suggested that a conviction did not mean that he would be mandated to sell his assets.

“A guilty verdict would not directly affect his ability to continue in business, and would not require him to sell any of his property,” Gregory Germain, a professor of law at Syracuse University College of Law, told Newsweek on Thursday prior to the verdict.

A guilty conviction could mean that he may not be able to be an officer in certain business capacities but may not affect his real estate holdings, according to residential and commercial real estate lawyer Adam Leitman Bailey told Newsweek.

“I don’t know what licenses he holds in New York. I know that Trump Organization holds licenses, but they’re not on trial. So I don’t think it would affect them in New York,” Bailey told Newsweek on Thursday prior to the ruling.

He also saidthat the Mar-a-Lago property would be protected as it is considered his primary residence.

“You couldn’t sell Mar-a-Lago anyway because [its] his primary residence [and] Florida protects primary residences,” he said. “Meaning, you can’t foreclose on a primary residence in Florida. You can’t take that away from someone.”

Newsweek contacted Trump’s campaign for comment via email on Friday.

D’Angelo suggested that there could be some adverse effects, such as securing financing for his business activity, and could hurt his future earnings.

On Friday, shares of TMTG were down more than 6 percent to about $48 as of 12:29 p.m. ET after beginning the day close to $54, according to Google Finance.

Legal experts suggested that if Trump were to be sentenced to prison, that could have an impact on whether he can keep operating the businesses, but that is unlikely. Sentencing is scheduled for July 11.

“The penalty in New York for a Class E felony is imprisonment up to 4 years, but prison is rarely imposed on a first-time non-violent offender. Usually, the penalty would be probation,” Germain said.

Bailey also indicated that the felony in question was “small-time.”

“It would be one of the lowest felonies,” he said. “He may have to pay a small fine of $1,000 or less. But this would not affect…there would be no judgment against his real estate [assets].”

D’Angelo said that the decision on Thursday could have positive effects on Trump’s political fundraising.

“His followers…I think they’re going to become even more vociferous,” he said. “There’s going to be substantial monies coming in to support his campaign on the political side.”

Trump’s campaign on Friday said that it raised nearly $35 million after the verdict in what they said was close to double his single-day fundraising record. Trump has indicated that he plans to appeal the verdict.