A New York State Supreme Court judge found Donald Trump and his adult sons liable for fraud in a $250 million civil lawsuit filed by the New York State Attorney General. The judge ordered the cancellation of Trump's New York business certificates and stated that Trump had vastly overestimated the size and value of Trump Tower. Trump's history of exaggerating his wealth dating back to the 1970s was highlighted, and the ruling emphasized that his lies could be considered fraud. The case now moves forward to assess damages, with a receiver overseeing Trump's financial activities and barring him from doing business in New York. The extent to which banks relied on Trump's claims is also expected to be examined.
Sure, here are the key facts extracted from the text:
1. New York State Supreme Court Judge Arthur 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 granted a summary judgment in the $250 million civil lawsuit filed against Donald Trump by New York State Attorney General Letitia James.
4. The judge found that Donald Trump had overestimated the size of Trump Tower by 200%.
5. Donald Trump implied in his April deposition that his property values cannot be inflated because he could find a buyer from Saudi Arabia to pay any price.
6. The judge described Donald Trump's exaggerations as fraud and a fantasy world.
7. The ruling also focused on Donald Trump's history of inflating his wealth.
8. Donald Trump's lies and exaggerations were effective in putting him in front of bankers and in the media.
9. The judge's ruling held Donald Trump accountable for his false statements about his wealth.
10. Summary judgment was granted on liability, and there will be an assessment of damages, with the state of New York asking for $250 million.
11. A receiver has been appointed to oversee Donald Trump's financial activities, and he and his family are barred from doing business in New York.
12. The text discusses the ease with which big lenders extended loans to Donald Trump compared to other borrowers.
13. The extent to which the banks relied on Donald Trump's statements is expected to be tested as the case progresses.
These facts are presented in the order they appear in the text.