00:00 Donald Trump committed years of while building the real estate empire that catapulted him
00:05 to fame and the White House.
00:08 A judge ruled Tuesday.
00:11 Deciding on a civil lawsuit filed by the New York Attorney General, Judge Arthur Ngoron
00:17 found that the former president's company deceived banks, insurers, others by overvaluing
00:23 his assets, exaggerating net worth on paperwork used to make deals.
00:29 For financing, Ngoron ordered some of Trump's business licenses revoked as punishment, making
00:36 it difficult or impossible for Trump to do business in New York, and said the Trump Organization
00:43 would continue to have an independent monitor overseeing its operations.
00:49 Red Trump pleads not guilty in Georgia election overthrow case Former President Donald Trump
00:56 speaks with reporters before leaving Hartsfield-Jackson Atlanta International Airport in Atlanta on
01:03 Thursday, August 24, 2023.
01:10 Trump's spokesman did not immediately respond to a request for comment on the decision.
01:16 Trump has long insisted he did nothing wrong.
01:19 The decision, made days before the start of a nonjury trial in Attorney General Letitia
01:25 James' case, is the strongest repudiation yet of Trump's carefully crafted as a wealthy
01:31 and shrewd real estate, mogul-turned-political powerhouse.
01:37 Beyond bragging about his wealth, Ngoron found that Trump, his company and its top executives
01:44 repeatedly lied about them in their annual financial statements.
01:49 Reaping rewards such as favorable loan terms and lower insurance premiums the judge said
01:54 these "tactics crossed line and violated law."
01:59 Rejecting Trump's claim that disclaimer in financial statements exonerated him of any
02:05 wrongdoing.
02:06 Red's surprising value of Trump's muckshot revealed how Trump's historic prison surrender
02:11 came to light.
02:14 Manhattan prosecutors considered filing a criminal case for the same conduct but declined
02:19 do so.
02:21 Allowing James to sue Trump and seek penalties that could impair his and his family's ability
02:27 do business in the state.
02:30 Ngoron's decision, at what is known as a summary judgment phase of the case, resolved the core
02:37 claim in James' case, but left six others.
02:41 Ngoron is scheduled to have a nonjury trial starting October 2 before deciding on those
02:47 allegations and any penalties he could impose.
02:51 James is seeking a $250 million fine and a ban on Trump doing business in his home state.
02:59 New York.
03:00 Ngoron said the trial could last until December.
03:04 Former President Donald Trump follows his swing during the proma head of the Live Golf
03:09 Invitational.
03:11 Trump's lawyers had asked the judge to dismiss the case.
03:15 But he refused.
03:16 They argue that James is not legally allowed to sue because there is no evidence that the
03:21 public "has been harmed by Trump's actions."
03:25 They also argued that most of claims in the case were barred by statute of limitations.
03:32 Ngoron stated early in the lawsuit that he absolutely denies these allegations.
03:38 Equating them to the time loop in the movie Groundhog Day.
03:43 James.
03:44 Democrat.
03:45 He sued Trump and Trump Organization a year ago.
03:48 Alleging Pat and D.U.P.
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