Judge Engoron ruled Trump defrauded banks, insurers

Judge Arthur Engoron ruled in late September that Former President Donald Trump and his company committed fraud while building his real estate empire after New York Attorney General Letitia James accused the former president of overvaluing his assets.

Engoron ruled that Trump deceived banks, insurers and others by overvaluing his assets and exaggerating his net worth.

James alleged that Trump "inflated his net worth by billions of dollars" and said his children helped him to do so.

A New York State Appeals Court rejected Trump’s request to delay the civil trial.

Engoron ordered that some of Trump’s business licenses be rescinded as punishment, making it difficult or impossible for them to do business in New York. The judge said he would continue to have an independent monitor oversee the Trump Organization’s operations.

The ruling comes out of James' lawsuit in which she alleged that Trump "inflated his net worth by billions of dollars" and said his children helped him to do so.