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Judge agrees to appoint monitor for Trump Organization assets, restricts financial transfers without approval

A state judge Thursday granted a request by the New York attorney general for an order prohibiting the Trump Organization from transferring any substantial assets, unless pre-approved by the court, and appointing an independent monitor to oversee communications regarding financial matters 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.

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


Trump filed a lawsuit against James and her office Wednesday night in a Florida state court. The suit claims James, a Democrat, is pursuing Trump, a Republican, for political gain, and claims her office  lacks authority to demand documents related to Trump’s revocable trust, through which he owns the company. He claims James’ demand for trust documents violates his “right to privacy and property” and his rights in the trust. 

A similar federal suit filed in the Northern District of New York in December 2021 was dismissed in May. The judge in the case said there was little proof James’ office was motivated by political animus, and “no evidence” subpoenas in the attorney general’s investigation had “been conducted in such a way as to constitute harassment.”

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

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

Attorneys for Donald Trump Jr., Eric Trump and Ivanka Trump did not immediately reply to a request for comment, nor did attorneys for Trump and the company.

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