Welcome to the beat.

We're tracking the fallout in that devastating ruling

that found years of fraud by Trump and his companies.

The Trump org reeling as a new court hearing was held today

and they are looking at what the punishment will entail.

Now, this ruling came out late yesterday.

It was big news.

And for all the other pending cases against Trump,

this one has swift financial consequences with fraud

and financial tricks.

And a fantasy world is what the judge said.

They were operating it, not the real world.

Lies to banks based on sophistry and petally

falls fatally flawed claims among other judgmental terms

that you see there by the judge.

Now, experts and Trump lawyers are already scouring

this ruling to make sense of what it means

when you cancel business licenses,

when you dissolve parts of the company.

And we have more clues on what that means today,

because Trump lawyers were in court today asking the judge

if the order means they have to sell assets,

...