In a case filed by New York State Attorney General Leticia James, Supreme Court Judge Arthur Ergoron found Donald Trump and his adult sons liable for fraud. The judge ordered the cancellation of Trump's New York business certificates, granting a summary judgment in the 250 million dollar civil lawsuit. The ruling stated that Trump overestimated the size of Trump Tower by 200 percent, and this discrepancy of such magnitude by a real estate developer sizing up his own living space for decades can only be considered fraud. The ruling also indicated that Trump implied in his deposition this year that his property's values quote cannot be inflated because he could find a buyer from Saudi Arabia to pay any price. This statement may suggest influence buying more than savvy investing. The judge's order will have significant implications for Trump's ability to do business in the state of New York.
Here are the key facts extracted from the text:
1. A New York State Supreme Court judge found Donald Trump and his adult sons liable for fraud.
2. The judge ordered the cancellation of Donald Trump's New York business certificates.
3. The judge issued a summary judgment in a $250 million civil lawsuit filed against Donald Trump by New York State Attorney General Leticia James.
4. The judge found that Donald Trump had fraudulently overestimated the size of Trump Tower by 200%.
5. Donald Trump had implied that his property's values cannot be inflated because he could find a buyer from Saudi Arabia to pay any price.
6. The ruling states that Donald Trump's statement may suggest influence buying more than savvy investing.
7. A summary judgment was granted on liability, finding that Donald Trump had committed fraud.
8. The state of New York has asked for $250 million in damages.
9. A receiver will be appointed to oversee Donald Trump's business dealings in New York.
10. Donald Trump and his family are essentially barred from doing business in New York.
11. The Attorney General of New York is seeking to protect the people of New York from fraud and fraudsters.
12. The case will now proceed to an assessment of damages.