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Tags: trump | new york | fraud | judge | monitor | assets

N.Y. Judge Appoints Monitor Over Trump's Assets

By    |   Thursday, 05 October 2023 01:35 PM EDT

The New York judge presiding over Donald Trump's fraud trial further restricted the former president and Trump Organization executives by ordering them to report any financial moves to an independent monitor first.

In a court filing he signed dated Wednesday, Judge Arthur Engoron barred Trump et al. from transferring assets or creating a third-party entity to acquire the assets without first disclosing to the assigned monitor, Judge Barbara Jones.

Trump, along with Donald Trump Jr., Eric Trump, Allen Weisselberg, Trump Organization Comptroller Jeffrey McConney and myriad LLCs, were named in the order. They have until Oct. 26 to provide potential receivers and seven days to provide Jones with any other entities owned or controlled by the Trump Organization cast.

The order was not discussed in the courtroom during Thursday's proceedings, which were not attended by former President Trump.

The ruling comes after Engoron's decision last week that New York Attorney Geneal Letitia James proved that Trump committed fraud.

James is seeking $250 million in penalties and barring Trump and his adult sons from conducting business in New York.

The order comes a day after Trump's legal team appealed Engoron's ruling from last week that ordered Trump be stripped of his New York business certificates and that assets be placed in a receivership.

In that decision delivered at the outset of the trial, Engoron ruled that Trump deceived banks, insurers and others by exaggerating the value of assets used in making deals and securing loans, the crux of James' lawsuit.

The trial to determine penalties is expected to last until December.

Mark Swanson

Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.

© 2024 Newsmax. All rights reserved.


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The New York judge presiding over Donald Trump's fraud trial further restricted the former president and Trump Organization executives by ordering them to report any financial moves to an independent monitor first.
trump, new york, fraud, judge, monitor, assets
260
2023-35-05
Thursday, 05 October 2023 01:35 PM
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