Trump’s Company Is Ordered to Have a Monitor for Deals and Valuations

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Former President Donald Trump’s company will have many of business activities overseen by an outside monitor until New York Attorney General Letitia James’s lawsuit alleging fraudulent asset valuations is resolved, a judge ruled. New York state Judge Arthur Engoron on Thursday granted James’s request for such a monitor as part of an order blocking the Trump Organization from issuing financial statements that don’t disclose the “assumptions and techniques” used to value its assets or from transferring or disposing of assets without court approval. The monitor will oversee company submissions for any statement of Trump’s financial condition, financial disclosures provided to lenders and insurers, and any corporate restructuring or disposition of significant assets to ensure compliance with the court order. ames sued Trump and three of his children in September following a three-year probe, accusing them of inflating the value of Trump Organization’s real estate assets and seeking penalties including a permanent ban from running companies in their home state. She subsequently sought a monitorship to “prevent the continuation of the fraudulent valuation scheme and to preserve the status quo” pending trial.