Judge agrees to appoint monitor for Trump Organization assets, restricts financial transfers without approval

A state judge granted Thursday a request from the New York Attorney General for an order prohibiting the Trump Organization from transferring substantial assets, unless first approved by the court, and appointing an independent monitor to oversee communications regarding financial matters while a trial of the state against society advances.

New York Attorney General Letitia James’ office was seeking a preliminary injunction, alleging in a court filing that the company “appears to be taking steps to restructure its business to avoid” liability and payment for any damages in a massive lawsuit filed by his office in September. The lawsuit alleges a widespread effort to manipulate real estate appraisals by former President Donald Trump and his namesake company. He is asking for $250 million and an end to the company’s operations in the state.

On the day the lawsuit was filed, the company incorporated a new entity with the state, called Trump Organization II LLC. The entity was registered a few days ago in Delaware. James’ office claimed this was possible evidence that the company was planning to move its assets.


How is the New York Attorney General’s lawsuit against Trump different from the investigations?

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Trump filed a lawsuit against James and his office Wednesday night in Florida state court. The lawsuit claims that James, a Democrat, is suing Trump, a Republican, for political gain, and claims that his office lacks the authority to demand documents related to Trump’s revocable trust, by which he owns the company. He claims James’ request for trust documents violates his “right to privacy and property” and his rights in the trust.

A similar federal lawsuit filed in the Northern District of New York in December 2021 was dismissed in May. The judge in the case said there was little evidence that James’ office was driven by political animosity, and “no evidence” that the subpoenas in the attorney general’s investigation had ” conducted in a manner that constitutes harassment”.

A spokesperson for the New York attorney general called Trump’s retrial “without merit.”

The New York attorney general’s lawsuit seeks $250 million and penalties, including revoking the Trump Organization’s business certificate, effectively barring it from doing business in New York. It also seeks to permanently ban Trump and three of his children, Ivanka, Eric and Donald Trump Jr., from serving as officers or directors of any business in New York, including the family business. .

Attorneys for Donald Trump Jr., Eric Trump and Ivanka Trump did not immediately respond to a request for comment, nor did attorneys for Trump and the company.

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