What's happened
Former President Trump faces significant financial penalties and business restrictions after a New York judge's ruling.
Why it matters
The ruling deals a massive financial blow to the GOP presidential frontrunner and could potentially wound his real estate empire, impacting his political career and personal fortune.
What the papers say
The ruling was handed down by New York Justice Arthur Engoron, who found Trump and his co-defendants guilty of intentionally committing financial fraud over the course of a decade. The New York attorney general sought a $370 million penalty from Trump for allegedly committing decades of financial fraud. The civil fraud case could deal a major blow to Trump's real estate empire as he seeks to challenge Biden in the US presidential election in November. Trump's legal debts might now exceed a half-billion dollars, and the judgments could deal a staggering blow to the personal fortune that remains core to Trump's political appeal.
How we got here
The ruling comes after a three-year-long investigation and a months-long trial, during which more than 40 witnesses testified and thousands of pages of evidence were presented. The case was brought by New York Attorney General Letitia James, who accused Trump and his family businesses of overstating his net worth by billions for more than a decade to fool bankers into giving him favorable financing terms based on bogus and inflated financial statements.
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Donald John Trump is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021.
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New York is a state in the Northeastern United States. New York was one of the original thirteen colonies that formed the United States. With more than 19 million residents in 2019, it is the fourth-most-populous state.
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Donald John Trump Jr. is an American businessman and former reality television personality. He is the eldest child of US president Donald Trump and businesswoman Ivana Trump.
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The Trump Organization is a group of about 500 business entities of which U.S. President Donald Trump is the sole or principal owner. About 250 of these entities use the Trump name. The organization was founded in 1923 by Donald Trump's grandmother, Eliza