Saturday, Sep 30, 2023

Donald Trump's company will get a watchdog to ensure no fraud -NY judge

Donald Trump's company will get a watchdog to ensure no fraud -NY judge

A New York judge on Thursday ordered that an independent watchdog be appointed to oversee the Trump Organization before a civil fraud case by the state's attorney general against Donald Trump's company goes to trial.

The decision by Justice Arthur Engoron came in state Attorney General Letitia James' $250 million lawsuit accusing the Republican former president, his company and three of his children of over-valuing assets and Trump's net worth through a decade of lies to banks and insurers.

Last month, James asked the Manhattan-based judge to appoint an independent monitor to halt ongoing fraud at the company and keep the Trumps from transferring assets out of her reach.

Engoron called appointing a monitor "the most prudent and narrowly tailored mechanism to ensure there is no further fraud or illegality," citing "persistent misrepresentations" in Trump's statements of financial condition from 2011 to 2021.

Trump blasted what he called Engoron's "ridiculous" decision, one day after suing James, a Democrat, in a Florida court to stop what Trump labeled her "inquisition."

"A puppet judge of the New York Attorney General and other sworn enemies of President Trump and the Republican Party has just issued a ruling never before seen anywhere in America," Trump said. "It is Communism come to our shores."

Separately, the Trump Organization referred to next week's midterm elections in saying the decision "sets a dangerous precedent for government interference in private enterprise and is an obvious attempt to influence the outcome of the upcoming election."

The decision bars the defendants from transferring assets without court approval, and requires that the monitor receive a "full and accurate description" of the Trump Organization's structure and assets.

Engoron said his skepticism was bolstered by Trump's decision to invoke his constitutional right against self-incrimination more than 400 times when questioned under oath by James' office in August.

In a statement, James called the decision a "major victory" that will stop Trump and his companies from continuing "the extensive fraud that we uncovered." She also noted that the judge found her claims likely to succeed at trial.

Both sides have until Nov. 10 to recommend three candidates to become a monitor.


The judge's decision focused on several alleged instances of fraud, including Trump's claim that his penthouse apartment atop Manhattan's Trump Tower was nearly triple its actual size, giving it an inflated $327 million valuation in 2015. No apartment in Manhattan has sold for that much.

"You said experts can disagree" on valuation, the judge told Christopher Kise, a lawyer for Trump at a hearing on Thursday. "But does there reach a point it's just not a disagreement ... but bad faith?"

Kise argued that James' demand for a monitor was a "manufactured emergency" ahead of next Tuesday's midterm election.

He said James had no legal authority to challenge how Trump valued his properties, calling it a private matter between Trump's company and its lenders and insurers.

"There's just no public interest here at all," Kise said, calling the alleged fraud a matter of "corporate titans versus corporate titans."

Kevin Wallace, a lawyer from James' office, countered that it was important to the public to maintain an "honest and fair business environment" in the state.

"The alternative is, we're in the wild, wild west," he said.

The Trump Organization manages hotels, golf courses and other real estate around the world.

James sued the company and Trump's family in September, following a more than three-year probe.

The case is among many legal battles Trump faces as he mulls a 2024 bid for the presidency.

Testimony also began this week in another Manhattan courtroom in a criminal case by the Manhattan district attorney's office accusing the Trump Organization of scheming to defraud tax authorities for at least 15 years.

That trial went on hold after the first witness tested positive for COVID-19 on Tuesday.


Related Articles

Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
Swedish Embassy in Baghdad Engulfed in Flames Amidst a Firestorm of Protests
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
An Ominous Shift in Warfare: Western Powers Risk War Crimes and Violate International Norms with Cluster Bomb Supply to Ukraine
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner