A New York judge on Friday handed Donald J. Trump a crushing defeat in his civil fraud case, finding the former president liable for conspiring to manipulate his net worth and ordering him to pay a penalty of more than $350 million that could wipe out his entire stockpile of cash.
The ruling will not render him bankrupt, because most of his wealth is tied up in real estate. Mr. Trump will also most likely ask an appeals court to halt the restrictions on him and his sons from running the company while it considers the case.
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