Trump's business empire under threat; Court rejects his bid to delay trial in fraud ruling

An appeals court rejected US former President Donald Trump's bid to delay a civil trial in a fraud ruling that threatens to upend his real estate empire and force him to give up prized New York properties such as Trump Tower, a Wall Street office building, golf courses and a suburban estate.

New York : An appeals court Thursday rejected Donald Trump's bid to delay a civil trial in a lawsuit brought by New York's attorney general, allowing the case to proceed days after a judge ruled the former president committed years of fraud and stripped him of some companies as punishment.

The decision, by the state's intermediate appellate court, clears the way for Judge Arthur Engoron to preside over a non-jury trial starting October 2 in Manhattan in New York Attorney General Letitia James' civil lawsuit. Trump is listed among dozens of possible witnesses, setting up a potential courtroom showdown with the judge.

The fraud ruling Tuesday threatens to upend his real estate empire and force him to give up prized New York properties such as Trump Tower, a Wall Street office building, golf courses and a suburban estate.

Trump has denied wrongdoing, arguing that some of his assets are worth far more than what's listed on annual financial statements that Engoron said he used to secure loans and make deals. Trump has argued that the statements have disclaimers that absolve him of liability. His lawyers have said they would appeal.

A few days ago, US Judge Arthur Engoron ordered that some of Donald Trump's business licenses be rescinded as a mark of punishment for defrauding banks and insurers to build his real estate empire. On the other hand, the former President's lawyer argued that such a decision seeks to nationalize one of the most successful corporate empires in the United States.