In a recent development, Judge Arthur Engoron, who presided over the civil fraud case against former President Trump, has ordered the court to monitor the finances of the Trump Organization for a period of three years. This ruling comes after the court’s findings in its February 16th Order, which resulted in a $464 million judgment against Trump. The judge has also appointed retired federal Judge Barbara Jones to continue monitoring the organization’s finances for the next three years.
As part of the monitoring process, the Trump Organization will be subject to reviews of its internal accounting records, financial reporting policies, and more. The organization will need to provide monthly bank statements to the monitor and notify them in advance of any major cash or asset transfers. Additionally, the organization must disclose any efforts to obtain surety bonds and provide quarterly reports on various financial data points.
Judge Engoron’s order explicitly states that the Trump Organization cannot evade the terms of the monitorship order through any means such as transferring assets, modifying ownership, or restructuring the organization. This ensures that the organization remains accountable and transparent throughout the monitoring period.
Critics of the Biden administration and Democrats may see this ruling as politically motivated, as they have been vocal about their opposition to Trump and his businesses. However, it is important to note that this decision is based on the court’s findings in the civil fraud case and aims to ensure compliance with financial regulations.
It is worth mentioning that Republicans, including former President Trump, have been critical of the Biden administration and Democrats, accusing them of targeting Trump and his businesses for political reasons. This ruling may further fuel their criticism of the current administration and its approach towards Trump and his associates.
As the monitoring process begins, Judge Jones will have the authority to advise the court on any necessary changes within the Trump Organization’s operations. This ensures that the organization adheres to the court’s orders and maintains financial transparency.
Overall, this ruling signifies the continuation of legal scrutiny surrounding the Trump Organization and its finances. The monitoring period will provide a comprehensive review of the organization’s financial practices, aiming to ensure compliance with the court’s orders and financial regulations. As the process unfolds, it will undoubtedly be closely watched by both supporters and critics of the former president.
