According to a new court filing, Donald Trump and related defendants are opposed to the idea of an independent monitor to oversee the Trump Organization's submission of financial statements to third parties.
James wants a judge to name a watchdog who will review financial information that the company and defendants give until the lawsuit is over.
The attorney general's office requested the watchdog as part of a lawsuit accusing Trump, three of his adult children, their company and others of a decadelong fraud.
Trump's lawyers said that James' request for an outside monitor for the company is "a politically motivated attempt to nationalize a highly successful private enterprise." The lawyers said that it was precluded by the constitution and should be rejected.
The former president and the Trump Organization have been accused of misstating the value of various real estate assets and his net worth on financial statements.
She wants federal prosecutors in Manhattan and the IRS to investigate Trump for possible federal crimes. During her three-year civil probe of Trump, James found evidence of possible bank fraud and false statements to financial institutions.
James wants about $250 million in fines.
Her allegations were flatly rejected by the Trump defense.
The filing said that even the excerpted and selected transcripts and documents failed to show that the Trump Parties have never been late on any loans.
According to the filing, the attorney general made a bill of grievances based on nothing more than a misapplication of standard accounting principles.
The filing said that the monitor would have access to all of the Trump Parties' financial records and be given operational oversight over their financial affairs.
The lawyers said that James' request would allow the NYAG to take over the Trump business empire.
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