Judge Deals Massive Blow To Trump

Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

(TheRedWire.com) – On Thursday, New York Judge Arthur Engoron, who is overseeing former President Donald Trump’s $250 million fraud trial, issued an order that blocked all of the case defendants from transferring any assets or creating new entities that would purchase the assets without first disclosing the move to the court.

The order was made available through the online docket of the case on the fourth day of the trial. Engoron found before the trial that Attorney General of New York Letitia James had proved that Trump had committed fraud and had inflated the value of his assets to defraud banks and insurance companies. The decision also resulted in Engoron ordering that former Judge Barbara Jones should independently monitor Trump’s businesses.

Jones, who was appointed as a monitor on Thursday, will need to be informed of all asset transfers and in the case where a new entity, not associated with one of the case’s defendants, is created to acquire those assets.

Jones will also need to be informed of all new business certificate applications that are connected to Trump entities in any jurisdictions, as well as of any transfers and cancellations of business certificates.

On Thursday, the order was not brought up during the courtroom session. However, the judge intends to closely monitor Trump’s assets during the fraud trial, which will likely take up much of the year.

The trial is focused on the investigation of Trump’s business practices of inflating his assets’ value to acquire insurance policies and loans under better conditions.

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