A New York court ruled Tuesday that former president Donald Trump had committed fraud for years to build his fortune. New York Judge Arthur Engoron, ruling in a civil case brought by New York Attorney General Letitia James, found that Trump and his company defrauded insurers, banks, and other business partners by massively overstating the value of his assets and net worth. Trump, Engoron ruled, had gone far beyond mere puffery and used fake values to get lower loan and insurance rates. The 35-page decision found that just as the former president had been somewhat parsimonious with the truth in his dealings with business partners, he and his legal team had actively obstructed the lawsuit and tried to prevent the special master appointed to monitor Trump Organization operations from doing their job. 

This ruling comes just days before the trial begins and is in response to both Trump and James seeking summary judgment on the facts. When the bench trial starts, Judge Engoron will focus on deciding how much of the $250 million in restitution James has demanded Trump will have to pay.

In addition to the findings of fact, Engoron imposed a $7,500 fine on each of five members of Trump's legal team "to impress upon defendants’ attorneys the consequences of engaging in repetitive, frivolous motion practice after this court, affirmed by the appellate division, expressly warned them against doing so." He also revoked the business licenses of some of Trump's companies and ordered a receiver appointed to oversee the dissolution of those companies. Among those companies is Trump's flagship Trump Organization.

Previously, the Manhattan district attorney's office had declined to file criminal charges in this case, but James initiated a civil lawsuit on her own: BREAKING: New York Attorney General Files Suit Against Trump Family.

Trump Fraud Lawsuit by streiff on Scribd