The Trump Organization will now face increased scrutiny from former federal judge Barbara S. Jones following a court order on Thursday related to alleged bank fraud committed by former President Donald Trump. Jones has been monitoring the Trump family’s New York real estate empire for over a year. New York Supreme Court Justice Arthur Engoron instituted the enhanced monitorship when he ordered the former President to pay the shocking sum of $464 million in February after finding him culpable for alleged civil fraud.
Since November 2022, the Trump Organization has been mandated to inform Jones of any capital shifts of more than $5 million or substantial business engagement. Judge Engoron’s new order permits Jones to take additional measures to ensure the Trump Organization doesn’t involve itself in suspect business practices. Jones now has the authority to review the company’s “day-to-day operations,” accounting records, and internal communications. Additionally, Jones may hire outside resources as needed, with the cost being borne by the Trump Organization. Engoron described the new order as “a productive and enhanced monitorship.”
In February of this year, Judge Engoron ruled that Trump reportedly inflated the value of his assets in a bid to make additional financial benefits available to his company through loans and insurance policies. The left-wing judge made several determinations regarding Trump’s property holdings, which have drawn vocal criticism from legal and real estate experts. The most egregious was his ruling that the former President’s private Palm Beach, Florida club, Mar-a-Lago, was worth only $18 million.
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