New York State Judge Arthur Engoron has appointed a special master to prevent Donald Trump from transferring assets from the Trump Org to any new organization, which is likely as Trump tries to conceal assets from the lawsuit filed against him by NY AG Letitia James:
A state judge Thursday granted a request by the New York attorney general for an order appointing a monitor to oversee the finances of the Trump Organization, and prohibited any proposed transfers of substantial assets without prior notice to the court, the AG and the monitor, while a state lawsuit against the company moves forward.
New York Attorney General Letitia James' office was seeking a preliminary injunction, alleging in a court filing that the company "appears to be taking steps to restructure its business to avoid" liability and payment of any damages in a massive lawsuit filed by her office in September. The suit alleges a widespread effort to manipulate property valuations by former President Donald Trump and his eponymous company. It seeks $250 million and an end to the company's operations in the state.
The day the lawsuit was filed, the company incorporated a new entity with the state, called Trump Organization II LLC. The entity was registered days before in Delaware. James' office claimed that was possible proof the company planned to move its assets.
"Defendants are hereby ordered to provide the monitor with a full and accurate description of the structure and liquid and illiquid holdings and assets of the Trump Organization, it subsidiaries, and all other affiliates, no later than two weeks after the monitor's appointment," Judge Arthur F. Engoron wrote in his ruling.
I would be remiss in not quoting Eddie Murphy, playing Billie Ray Valentine in the movie Trading Places, "You know, it occurs to me that the best way you hurt rich people is by turning them into poor people."
Even if Donald Trump had never stood for public office, I would find the hard-ball being played against the famously oleaginous businessman extremely gratifying.
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