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Judge Arthur Engoron found former President Donald Trump liable for $355 million in fraud and barred him from running businesses in New York for three years.
In his ruling, Engoron chose not to dissolve Trump's business certificates in New York, amending his September decision that ordered them to be revoked.
In addition, Trump's adult sons, Don Jr. and Eric, were each found liable for multiple counts of fraud and ordered to pay $4 million in fines. They were also barred from serving as an officer or director of any New York corporation for two years.
Engoron said that the evidence detailed during the months-long trial showed that Trump and executives at the Trump Orgnazition inflated the value of his assets to secure lower interest rates on loans he received.
"In order to borrow more and at lower rates, defendants submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements," Engoron wrote.
"When confronted at trial with the statements, defendants' fact, and expert witnesses simply denied reality, and defendants failed to accept responsibility or to impose internal controls to prevent future recurrences," he continued.
Trump is expected to appeal the decision.
Donald Trump's attorney, Alina Habba, blasted the ruling, calling the decision a "manifest injustice."
"It is the culmination of a multi-year, politically fueled witch hunt that was designed to 'take down Donald Trump' before Letitia James ever stepped foot into the Attorney General's office," she said in a statement.