This week's legal ruling against former President Donald Trump by a New York judge could have massive consequences, according to a new report.

Judge Arthur Engoron found Trump guilty of fraud through overvaluing his assets over a multi-year period.

Trump fraud verdict: What does the New York ruling mean?https://t.co/UVmeyxJAQW

— EconoTracker (@YouEconomist) September 28, 2023

The problem

"Judge Engoron ordered that some of Mr. Trump’s business licenses be rescinded as punishment, making it difficult or impossible for them to do business in New York, and said he would continue to have an independent monitor oversee Trump Organization operations," one report noted.

"If not successfully appealed, the order would strip Mr. Trump of his authority to make strategic and financial decisions over some of his key properties in the state," it added.

NEW: The New York State Supreme Court's Appellate Division has denied former Pres. Trump’s motion to delay his fraud trial, so the trial will proceed on Monday as planned. https://t.co/iSJ5ydwFQe

— ABC News Politics (@ABCPolitics) September 28, 2023

Headed to trial Monday

"Still to be determined at trial is the question of what additional penalties Trump might face, as well as several causes of action included in the attorney general's suit," ABC News reported.

"James plans to call Trump and his adult sons to the stand during the trial, according to a list of witnesses the AG has filed with the court," it continued.

Trump on judge’s ruling he committed fraud: "This is not America" https://t.co/zDiC1TSBEJ pic.twitter.com/mNMqxnoOQ2

— The Hill (@thehill) September 28, 2023

Trump's response

“It is a terrible reminder that the radical left Democrats will stop at nothing in trying to prevent me, and the American people, from winning the 2024 presidential election,” Trump said in a set of lengthy statements Tuesday on Truth Social.

“Regardless of party, we can not let this happen in the United States of America," he stated.

Trump is currently listed among the witnesses in the Monday case. It is uncertain whether he will appear in person to testify.

The trial comes in addition to Trump's ongoing legal cases in Florida over classified documents found in his Mar-a-Lago home last year, a Georgia case involving allegations of election interference and a Washington case charging him in relation to the events of Jan. 6, 2021.

The legal challenges continue to grow all while Trump continues to hold a strong lead among GOP presidential candidates and polls well against President Joe Biden in a potential 2024 rematch.