The judge in former President Trump’s New York civil fraud case has ordered a court to monitor the finances of the Trump Organization for three years.
Judge Arthur Engoron, who ruled in the civil fraud case that ultimately awarded Trump $464 million, issued an order Thursday to oversee the Trump Organization.
“Based on the court’s findings in its February 16 order, the court ordered continued monitoring of defendants’ financial and accounting practices and disclosures for at least three years, including in an enhanced role, including in a monitor role. I have ordered that an independent compliance director be appointed,” Engoron wrote in Thursday’s order.
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Judge Arthur Engoron is presiding over the Trump Organization’s civil fraud trial in New York State Supreme Court in New York City. (Erin Schaff/Pool/AFP via Getty Images)
Former federal judge Barbara Jones, who oversaw the Trump Organization’s finances as part of a 2022 preliminary injunction, will continue in her role for the next three years.
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Use this monitor to view your organization’s internal accounting records, recordkeeping, financial reporting policies, and more.
The Trump Organization would be required to provide Monitor with monthly bank statements, notify Monitor at least five business days in advance of any major cash or asset transfers, and notify Monitor of any debt restructuring or payment.
Please read the submission documents below. App user: click here
Most relevant to this case, organizations must also disclose their efforts to obtain bond money.
Quarterly reports regarding these and other financial data points are prepared for the court.
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Former President Trump leaves the courtroom after testifying in his civil fraud trial at New York State Supreme Court in New York City. (Michael M. Santiago/Getty Images)
The order from Engoron states, “Defendants may not be able to transfer assets, reincorporate existing entities in other forms or jurisdictions, change ownership of entities, or engage in any other form of reorganization or incorporation. The provisions of this surveillance order may not be circumvented by any change in form.”
Mr. Jones will also be able to advise courts on operational change orders within the Trump Organization.
