A New York state judge has approved the appointment of a special monitor to oversee the Trump Organization's financial statements and reports and has barred the company from transferring non-cash assets without notifying the court and the state attorney general's office in advance.
Trump and three of his children were named in a lawsuit brought by the New York Attorney General.
The Trumps were accused of decades of fraud related to financial statements.
The appointment of an independent monitor was justified because of the misrepresentations that took place over the course of two years.
There is a New York state law that prohibits fraud.
On Wednesday, Trump filed a lawsuit in Florida against a New York official who was sued in New York. James is accused of violating Trump's right to privacy in Florida, where he currently resides. The lawsuit against the Trump Organization was accused of trying to take control of the company by the attorney general.
James filed a motion that bars Trump and his company from transferring their assets without notifying the court. James said that Trump appeared to be trying to get out of her jurisdiction by moving the Trump companies out of New York.
The company registered a new entity in Delaware on September 15th. The Trump Organization registered a new company with the state of New York.
In a court filing, Trump's lawyers argued that a monitor would be an attempt to nationalize the business.
The Trump legal team was conflating a court-appointed monitor with a court-appointed receiver. While a receiver takes control of the entire organization, a monitor over sees.
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