The former president Donald Trump’s corporation will be unable to freely negotiate contracts, sell assets, or alter its corporate structure as a result of the Manhattan judge’s announcement on Thursday that he will appoint an impartial monitor “to ensure there is no future fraud.”
As he rule over a lawsuit in which the New York attorney general claims that Donald Trump and the Trump Organization misled banks and other parties about the value of valuable assets, including golf courses and hotels bearing his name, Judge Arthur Engoron appointed an outside watchdog.
Attorney General Letitia James claims the business is still defrauding people and has taken measures to escape the consequences of her case, such as forming a new firm with a similar name – Trump Organization LLC — in September, right before the claim was made.
In an 11-page order, Engoron stated that Trump and the Trump Organization “demonstrated propensity to engage in persistent fraud” and that appointing an outside monitor “is the most responsible and specifically tailored mechanism to ensure there is no further fraud or illegality” until the lawsuit is resolved.
Messages seeking comment have been sent with the Trump Organization’s and Trump’s legal counsel. According to Politico, Trump’s attorneys vehemently opposed the appointment of a monitor.
