Judge agrees to appoint receiver for Trump Organization assets, limits financial transfers without approval

A state judge granted it Thursday New York attorney general’s request for an order barring the Trump Organization from transferring significant assets unless pre-approved by a court and appointing an independent monitor to oversee financial communications while the state lawsuit against the company moves forward .

New York Attorney General Letitia James’ office sought a preliminary injunction, claiming in court that the company “appears to be taking steps to restructure its business to avoid” liability and payment of any damages to mass lawsuit filed by her office In September. The lawsuit alleges a widespread effort to manipulate real estate valuations by former President Donald Trump and his eponymous company. It is seeking $250 million and an end to the company’s operations in the state.

On 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 ago in Delaware. James’ office claimed this was possible evidence that the company was planning to move its assets.


How is the New York attorney general’s lawsuit against Trump different from the investigations?

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Trump filed a lawsuit against James and her office Wednesday night in Florida state court. The suit alleges that James, a Democrat, is going after Trump, a Republican, for political gain and claims her office does not have the authority to demand documents related to Trump’s revocable trust through which he owns the company. He claims that James’s demand for trust documents violates his “right to privacy and property” and his rights to the trust.

A similar federal lawsuit filed in the Northern District of New York in December 2021 was dismissed in May. The judge in the case said there was little evidence that James’ office was motivated by political animosity and that “no element” of subpoenas in the attorney general’s investigation “had been conducted in a manner that constituted harassment.”

A spokesman for the New York attorney general called Trump’s new lawsuit “baseless.”

The New York attorney general’s lawsuit seeks $250 million and punitive damages, including revoking the Trump Organization’s business certificate, effectively barring it from doing business in New York. It also seeks to permanently bar Trump and three of his children, Ivanka, Eric and Donald Trump Jr., from serving as an officer or director of any business in New York, including their family’s company.

Lawyers for Donald Trump Jr., Eric Trump and Ivanka Trump did not immediately respond to a request for comment, nor did lawyers for Trump and the company.

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