A Manhattan judge said yesterday that he would appoint an independent monitor to oversee Donald Trump’s real estate empire and prevent the hiding of assets from Letitia James. Seems like a good idea, right? Not according to the Cheeto, whose howls could probably be heard in outer space. Via the Guardian:
The move will restrict his company’s ability to freely make deals, sell assets and change its corporate structure.
Judge Arthur Engoron ordered the outside watchdog for the Trump Organization as he presides over a lawsuit in which the New York attorney general, Letitia James, alleges Trump and the company routinely misled banks and others about the value of prized assets, including golf courses and hotels bearing his name.
James’ office says the Trump Organization is continuing to engage in fraud and has taken steps to dodge potential penalties from the lawsuit, such as incorporating a new entity in Delaware named Trump Organization LLC almost identical to the original company’s name in September, just before the lawsuit was filed.
Oh dear, oh dear. The Orange One lost it:
James has also sought an order prohibiting any real estate-related activity and a maximum fine of $250m (£224m), measures which would effectively block Trump from the industry in which he made his name.
The state attorney general is also seeking to stop the Trump Organization being able to transfer or discard assets to third parties, and to secure the appointment of an independent monitor to review the company’s 2022 financial statements, in the hope of preventing accounting moves that might financially benefit the firm.
