Wall Street Legend on Economy: "If you knew what I know, you'd be terrified too."

Something huge is headed to America's shores -- and it scares the hell out of Wall St. legend Louis Navellier. When it makes landfall, its impact will be more violent and more severe than any financial crisis we've ever seen... "No matter how prepared you think you are, you aren't prepared enough," he warns.

Trump's Felony Conviction Could Leave His Golf Courses Dry, NJ Set To Revoke Liquor Licenses

Bibhu Pattnaik
June 29, 2024

New Jersey authorities have decided not to renew the liquor licenses for two golf courses owned by former President Donald Trump, following his felony hush-money conviction.

What Happened: According to Business Insider, the licenses for Trump National Bedminster and Trump National Golf Club in Colts Neck will not be renewed due to Trump’s recent felony record.

The golf clubs can continue to serve alcohol until a hearing scheduled for July 19. The licenses are set to expire on Sunday.

Despite the licenses being in the name of his son Donald Trump, Jr., Trump maintains a direct beneficial interest in them as the sole beneficiary of the Donald J. Trump Revocable Trust.

The state attorney general’s office clarified that only after the sentencing, scheduled for July 11, can any New Jersey official disqualify Trump from holding a liquor license.

Also Read: Trump Is Raising Enough Money To Wipe Out Biden’s Once Significant Cash Advantage

According to state liquor law, a license can be revoked if anyone who either owns or financially benefits from the license is convicted of a crime of “moral turpitude.” Given Trump’s financial interest in the clubs and his new criminal record, the licenses were at risk.

“Felony convictions are universally considered crimes of moral turpitude,” stated Peter M. Rhodes, a partner at the Haddonfield, New Jersey-based firm Cahill, Wilinski, Rhodes & Joyce, according to Business Insider.

Why It Matters: This isn’t the first time Trump’s New Jersey licenses have been threatened. In 2021, following a fatal drunken driving crash at one of his clubs, Trump narrowly escaped losing his licenses.

They were retained under a settlement with the then Attorney General Gurbir S. Grewal. The recent decision to revoke the licenses could have significant implications for the operation of the golf clubs.

Now Read: Donald Trump Says It Would Be A ‘Great Honor’ If He Were Jailed For Breaching Gag Order: ‘I Will Gladly Become A Modern Day Nelson Mandela’

This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Photo: Shutterstock

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