Judge Orders Finance Monitor For Trump Org
A New York judge ruled on Thursday that the court will effectively take over the Trump Organization, a multi-national real estate conglomerate owned by former President Donald Trump.
This comes after the judge, Arthur Engoron, slapped Trump with almost half a billion dollars in fines for a “crime” in which there were no victims. In his ruling, Engoron stated that the court would take control of the company for a period of no less than three years and that the organization’s financial and accounting practices would be closely monitored.
The ruling also includes the appointment of a monitor to oversee the organization’s operations. Retired federal Judge Barbara Jones, who has been monitoring the company’s finances since 2022, will continue in her role for the next three years. The monitor will have the authority to review the company’s internal accounting records, recordkeeping, financial reporting policies, and more. The Trump Organization will also be required to provide the monitor with monthly bank statements and notify them of any major cash or asset transfers or debt restructuring.
In addition to the monitoring, the court will also be notified of any changes made within the organization, including transferring assets or changing the corporate form. Engoron’s order specifically states that the defendants, namely Trump and the Trump Organization, must not try to evade the terms of the monitorship order in any way.
Now this!
The rogue Judge Engoron in Trumps NY civil business case, has just ruled that Trump now must inform a court-appointed financial babysitter named Barbara Jones “IN ADVANCE, of all efforts to secure surety bonds.”
The Trump company also must tell Jones about any… pic.twitter.com/V3lXHkXH8X
— 🇺🇸ProudArmyBrat (@leslibless) March 21, 2024
This development comes at a time when New York Attorney General Letitia James is trying to seize the assets of the Trump Organization if they do not pay their fines immediately. This has been met with criticism, with some calling it extortion and “beyond evil.” The ruling has also been met with concern, as it sets a dangerous precedent for the future of private U.S. citizens and their property.
The court’s actions against Trump, from various investigations by local prosecutors to the federal Special Counsel, have been met with controversy and accusations of political bias. Many see this case of “real estate fraud” as particularly concerning, as the government is essentially taking over a private business without any evidence of wrongdoing. The due process required by the Constitution may have been followed, but the actions still raise questions about the ethical standards being applied in this case.
It remains to be seen how this ruling will affect the Trump Organization’s operations and future. The company has been a major player in the real estate industry for decades, and the court’s involvement may have far-reaching consequences. Some have pointed out that this is not just an attack on Trump but on the concept of private property and the rights of American citizens.
In a statement, Trump’s legal team said they will be appealing the ruling and are confident that the “unprecedented overreach” of the court will be overturned. The former president has faced numerous legal battles in recent years, and this ruling adds to the list. The response of the public and other political figures to this development remains to be seen, but it is clear that this case will continue to generate controversy and raise important questions about the balance of power between the government and private citizens.