New York judge rules Trump committed fraud by inflating asset values for decades

In a devastating pre-trial ruling, New York Judge Arthur Engoron found that Trump, his adult sons, and the Trump Organization committed fraud by repeatedly misrepresenting the value of assets by hundreds of millions of dollars on financial statements used to obtain loans and insurance. The judge ordered the cancellation of Trump's New York business certificates, effectively dissolving his corporate structure in the state. This was a liability ruling ahead of the civil fraud trial brought by AG Letitia James seeking $250 million in penalties.