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The New York State judge overseeing Attorney General Letitia James’ fraud suit against former President Donald Trump, his family and the real estate and licensing company of the same name issued an order barring the transfer of any of the former president’s assets or his company without notice. the court and the attorney general’s office. New York County Superior Court Judge Arthur Engoron also on Thursday granted Ms. James’ request for an independent monitor to oversee compliance with his order, to be chosen from a list of recommendations by Ms. James and the Agency. Trump. The judge said a preliminary injunction was warranted “to ensure that the defendants do not disperse their assets or move them out of this jurisdiction.” “OAG seeks to enjoin the defendants from transferring any material assets to a non-contracting subsidiary or otherwise disposing of material assets without the Court’s approval. In the event that the defendants believe they have a legitimate reason to do so, they may apply to this Court for leave,” he wrote. “In the absence of injunctive relief and given defendants’ proven propensity to engage in persistent fraud, failure to grant such an injunction could result in extreme prejudice to the people of New York. Further, the relief sought is appropriately tailored to curb wrongful conduct and ensure that funds are available for possible disgorgement at the end of this case.” The ruling means that Mr. Trump and his companies will have to provide the court appointee with 30 days’ advance notice of “any planned or anticipated restructuring of the Trump Organization, its subsidiaries and all other affiliates, or any plans to disposition or refinancing of significant assets of the Trump Organization or disposition of significant liquidity.” Trump and his co-defendants were also ordered to provide on screen “a complete and accurate description of the structure and liquid and illiquid holdings and assets of the Trump Organization, its subsidiaries and all other affiliates” within the next two weeks. In his 11-page opinion and order, Mr. Engoron wrote that naming such a screen was “the most prudent and narrowly tailored mechanism” to prevent any “further fraud or illegality” while Ms. James’s lawsuit is pending, particularly because of the described as “given the persistent misrepresentations in all of Mr. Trump’s statements [Statements of Financial Condition] between 2011 and 2021″. In September, James filed a $250 million lawsuit against Trump, his three oldest adult children and a number of companies, organizations and individuals associated with the real estate and licensing business of the same name, following a three-year civil investigation into alleged fraud. New York’s attorney general has alleged that the former president and his business empire falsely inflated the value of his net worth by billions of dollars in an effort to gain tax and other benefits from insurers and financial institutions. In a statement, Ms. James said the judge’s ruling would “ensure that Donald Trump and his companies cannot continue the widespread fraud we have uncovered and will require the appointment of an independent monitor to oversee compliance at the Trump Organization.” . “No amount of lawsuits, delay tactics or threats will stop our pursuit of justice,” he added. The legal victory for the attorney general comes just a day after Mr. Trump claimed he filed a lawsuit against her to block her from obtaining information about the revocable trust that holds most of his assets and accused her of seeking a “ relentless, destructive, public, and unapologetic crusade” against him. “Crooked and very partisan James now thinks it is the State of New York’s job to go after my revocable trust and infiltrate my private estate plan, just to find ways to recklessly injure me, my family, my businesses and tens of millions of supporters,” he said in a statement released by his political action committee. Legal experts said the lawsuit, filed in Florida state court, is frivolous and will likely be dismissed.
