Former President Donald Trump and New York Attorney General Letitia James, in separate media appearances, addressed the ruling Friday evening, trading barbs while reacting to the judgment.

Speaking from his Mar-a-Lago estate in Florida, Trump said he had to pay a fine for "having built a perfect company." Accusing both James and Judge Arthur Engoron of being politically motivated, Trump denied committing any fraud and said he plans to appeal.

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Trump responds to ruling: 'A crooked New State judge just ruled I need to pay a fine'

Meanwhile, in New York, James lauded the ruling as a victory for all Americans and the principles of equal justice under the law -- saying "former presidents are no exception."

"The scale and scope of Donald Trump's fraud is staggering -- and so, too, is his ego and his belief that the rules don't apply to him," she said.

James also heralded Judge Engoron's penalties as effective remedies to "ensure this fraud cannot continue."

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Letitia James delivers remarks after Trump ruling

Based on Friday's decision, former President Trump and his co-defendants will likely owe $463.9 million based on their initial fine and the prejudgment interest imposed by the court, according to a representative for the New York attorney general.

Trump himself will likely owe $453.5 million, between his $354.86 million fine and $98.6 million in interest.

The amount of interest owed by the defendants is set to increase every day they do not pay the fines.

New York Attorney General Letitia James, whose office brought the civil fraud case against Donald Trump, described the ruling as a "tremendous victory for this state, this nation, and for everyone who believes that we all must play by the same rules -- even former presidents."

“When powerful people cheat to get better loans, it comes at the expense of honest and hardworking people," James said in a statement. "Everyday Americans cannot lie to a bank to get a mortgage to buy a home, and if they did, our government would throw the book at them. There simply cannot be different rules for different people."

The former president is "finally facing accountability for his lying, cheating, and staggering fraud," she said.

In addition to the fines imposed on Donald Trump and his co-defendants, the judge's decision leaves the Trump Organization in a constrained position to continue operating their New York-based businesses.

While Judge Engoron backtracked on his September summary judgment ruling -- vacating the part of his order that canceled their business certificates -- Donald Trump and his sons are temporarily unable to lead their namesake company. Trump faces a three-year ban on serving as the leader of a New York company, and his sons face two-year bans.

An independent monitor will continue to oversee the company's finances for at least three years, and the company needs to install a director of compliance.

Regarding the combined $364 million owed by the defendants, experts who ABC News spoke with believe it is unlikely any of them foot the bill immediately; instead, they can cover the fine with a bond while they appeal.

When Donald Trump negotiated a $125 million loan from Deutsche Bank related to his Trump National Doral golf club, the former president agreed to maintain a minimum net worth of $2.5 billion as a condition of the loan, former bank executive Nicholas Haigh testified.

The loan memorandum prepared by Deutsche Bank included a covenant that the "Guarantor shall maintain a minimum net worth of $2.5 billion excluding any value related to the Guarantor's brand value," according to a document marked as evidence today.

The New York attorney general alleges that Trump's actual net worth at the time of the loan agreement was only $1.5 billion, an amount that would have triggered a default.

Retired Deutsche Bank executive Nicholas Haigh testified that he was involved in the decision to set the $2.5 billion figure, which he believed would protect the bank from exposure if the property failed or the broader market declined.

"It was set in order to make sure the bank was fully protected under adverse market conditions," Haigh testified.

To calculate Trump's net worth, Deutsche Bank looked at what Haigh described as Trump's four "trophy properties," all in Manhattan: Trump Tower, 40 Wall Street, Trump Park Avenue, and Niketown -- a ground lease for a property adjoining Trump Tower.

Since the properties themselves were not provided as collateral for the loan, Deutsche Bank did not commission independent appraisals for the properties, and instead used a modified version of Trump's own numbers.

"The bank normally only commissions appraisals on assets taken as collateral," Haigh said.

Deutsche Bank adjusted their assessment in 2012, when they learned of a separate appraisal of Trump Tower that offered a lower value of the property than what Trump had provided.

"The bank felt that it had an independent view on the value of the asset," Haigh said of the appraisal that prompted his bank to lower their value for Trump Tower from $1.2 billion to $992 million.