Judge Arthur Engoron has issued an order that will allow former President Trump’s finances and assets to be monitored for three years.
In other words, Trump’s estate will be babysat by Barbara Jones, a retired federal judge. The judge will also have full authority over giving suggestions for court-ordered changes in how the Trump Organization operates.
The order comes after Trump is facing a $464 million judgment paid in his New York civil fraud case despite his appeal still pending.
On Thursday, the judge ruled that the court must monitor and notify the watchdog about any efforts Trump makes to receive the payment for the bond. The appeals court has also put a temporary halt on the judgment orders that prohibit Eric Trump and Donald Trump Jr. from continuing to run the company.
“Based on the Court's findings in its February 16th Order, the Court ordered the continued monitoring of Defendants' financial and accounting practices and disclosures, including an enhanced role for the Monitor, for a period of no less than three years, as well as the appointment of an Independent Director of Compliance," Engoron wrote in the order.
Jones will have to notify the court of any large cash transfers, the creation or dissolution of assets, the restructuring of debt, and "any efforts to secure surety bonds” that Trump makes. The 2024 GOP candidate will also be required to provide the court with monthly bank statements.
“Defendants shall not evade the terms of this Monitorship Order by transferring assets, reincorporating existing business entities in other forms or jurisdictions, modifying entity ownership, or any other form of restructuring or change in corporate form," the order continued.
This comes after New York Attorney General Letitia James has taken "unconstitutional" steps to bring Trump down just in time for the 2024 election in November.
The far-Left AG indicated she would take drastic measures if Trump was unable to pay the large multi-million dollar bond, suggesting the seizure of Mar-a-Lago to be one of them.
Trump’s legal team hit back at James, saying that it is “unreasonable, unjust, and unconstitutional” and cause Trump to face “irreparable harm" if he were forced to pay the bond or sell his iconic Mar-a-Lago property before his appeal is decided.
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