There are so many delicious parts to this ruling. Starting with the basics, via The New York Times:
The New York attorney general won a major victory in her civil case against Donald J. Trump on Tuesday when a New York judge determined that the former president fraudulently inflated the value of his assets to obtain favorable loans and insurance deals.
The decision by Justice Arthur F. Engoron precedes a trial that is scheduled to begin Monday, and will considerably smooth Attorney General Letitia James’s path forward as she seeks a penalty of about $250 million.
Justice Engoron’s decision narrows the issues that will be heard, effectively deciding that the trial was not necessary to find that Mr. Trump was liable and that the core of Ms. James’s case was valid. It represents a major blow to Mr. Trump, whose lawyers had sought to persuade the judge to throw out many of the claims against the former president.
The judge also revoked some of Trump's business licenses, "making it difficult or impossible" for those companies to do business in New York, AP reported.
Trump’s lawyers are having a bad day, too. The Times reported they were sanctioned for $7,500 each for making frivolous arguments the judge had already rejected.
Trump’s two sons, Chief Financial Officer Allen Weisselberg and comptroller Jeffrey McConney are co-defendants also due to stand trial on Monday.
But the trial could be delayed or even nullified by an appeals court. Trump has previously sued Justice Engoron and an appeals court is expected to rule this week on that lawsuit, The Times noted “But if the appeals court rules against him, Mr. Trump will have to fight the remainder of the case at trial.”
