New York Attorney General Letitia James on Thursday appointed an independent watchdog overseeing Donald Trump’s family company ahead of a civil fraud lawsuit against the former president, his three adult children, and the family’s real estate company. I requested the court to appoint…to the trial.
James’ injunction also would have barred Trump’s company from conducting just such “serious fraudulent and illegal business.” lawsuit It was filed against him by her office in September.
James has asked a Manhattan state court to bar the Trump Organization from selling its assets while the lawsuit is ongoing and to prevent it from issuing financial statements that do not explain their methodology. It called for speeding up the proceedings and asked for a trial date of October 2023.
The attorney general said monitors should be put in place before the trial to ensure the company does not sell assets and to oversee the submission of financial information to third parties.
The injunction claimed that despite the lawsuit less than a month ago, Trump and his associates began indulging in activities they knew to be “improper or fraudulent.”
Examples include the 2021 Statement still including the “inappropriate ‘fixed assets'” system used in assigning values to his golf clubs, and the fact that Mar -a- includes no restrictions on the use of Lago’s assets. Additionally, Trump allegedly kept $93 million as his own from a partnership with the Bornado Real Estate Organization.
In September, James accused Trump, his three adult children, Donald Trump Jr., Eric It sued Trump, Ivanka Trump, and the company.
Trump and his company have denied wrongdoing and called the incident a politically motivated “witch hunt.” James is a Democrat.
Through the lawsuit, James seeks to remove Trump from power in the company and bar Trump and the three adult children named in the case from serving as officers or directors of the company. New Yorkimposes oversight on the company and “bans the Trump Organization from acquiring commercial real estate or taking loans from New York-based entities for five years.”
The Trump Organization controls hotels, golf courses and other real estate around the world and has been under investigation by James for over three years.
Manhattan District Attorney Alvin Bragg has charged the Trump Organization with tax fraud and is preparing for a trial on Oct. 24.
In his injunction, James sought an independent attorney to oversee all activities related to the sharing of financial information until trial.
“Given the centrality of certain individuals in fraudulent activities, such as Trump, Weisselberg, McConney, Donald Trump Jr. (as trustee), and Eric Trump, many of them continue to operate behind closed doors. To ensure that financial reports regarding Mr. Trump’s assets and net worth are truthful, not misleading (including omissions of material facts) and comply with applicable accounting principles, We cannot rely on the management team, the Trump Organization,” read the motion.
“Mr Trump, the beneficial owner of the assets of the Trump Organization and the person who effectively controls them, continues to applaud the statement that the appointment of an independent oversight is justified and appropriate. Confirmation of something.”
The filing also provided some details as to why James’ office has come to lose faith in the Trump organization.
“When the OAG raised ‘concerns that the Trump Organization was moving assets out of state,’ it asked its attorneys ‘to assure that the status quo would not change over the next few months (or , [OAG] We will at least give reasonable advance notice of the asset transfer),” and the Trump Organization did not provide any guarantees,” read the filing.
https://www.theguardian.com/us-news/2022/oct/13/new-york-attorney-general-trump-organization-fraud-case The New York Attorney General is looking for a special overseer to oversee Trump’s firm.donald trump