Trump’s $355 Million Civil Fraud Verdict

Donald Trump and his business were found liable Friday of inflating asset values in paperwork to lenders, but given that nobody lost money, this punishment smacks of political overkill. In a 92-page ruling, New York Judge Arthur Engoron ordered him to pay $355 million, while also banning him from being an officer for any New York corporation for three years.

The judge had previously found that Mr. Trump fudged numbers submitted on Statements of Financial Condition (SFCs), most egregiously by claiming that his 11,000-square-foot triplex in Trump Tower was actually...