From CNN:

A New York judge found Donald Trump and his adult sons liable for fraud and canceled the Trump Organization’s business certification, a shocking ruling that poses an existential threat to the former president’s financial empire as he runs for a second term in the White House.

Judge Arthur Engoron’s ruling on Monday is a complete rejection of Trump’s arguments that he didn’t inflate the values of his golf courses, hotels, homes at Mar-a-Lago and Seven Springs on financial statements.

“In defendants’ world: rent-regulated apartments are worth the same as unregulated apartments; restricted land is worth the same as unrestricted land; restrictions can evaporate into thin air; a disclaimer by one party casting responsibility on another party exonerates the other party’s lies,” the judge wrote.

“That is a fantasy world, not the real world,” Engoron said.

The ruling came in response to the lawsuit by New York Attorney General Letitia James, who is seeking $250 million in damages, a ban on the Trumps from serving as officers of a business in New York and to stop the company from engaging in business transactions for five years.

The rest is here.