Trump Org loses court battle — must be overseen by outside monitor: NY judge

Shortly after the conclusion of oral arguments, New York Supreme Court Judge Arthur Engoron granted a motion by New York Attorney General Letitia James' office for the appointment of an independent monitor to oversee the Trump Organization.

The move came as part of New York's $250 million fraud lawsuit against Donald Trump's family company and his children Donald Trump, Jr., Ivanka Trump, and Eric Trump.

Judge spent multiple pages discrediting the Trump Organization's claims before noting the severity of the alleged fraud.

"Although, for present purposes, the Court need not detail every instance of fraud found in the record, the following examples are particularly compelling," Engoron wrote.

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He went on to list the Trump Tower Triplex, Trump Park Avenue rent-stabilized apartments, 40 Wall Street, and Mar-a-Lago.

In discussing how lawyers for the Trump Organization claimed his 10,996 square foot Trump Tower Triplex was 30,000 square feet, the judge wrote in a footnote, "it belies all common sense to assert that Mr. Trump, who resided in the Triplex for over 35 years and who purports to be 'one of the top businesspeople' was not aware that he was over-representing the size of his home by nearly 200%."

The judge ruled the defendants, "are hereby preliminary enjoined from selling, transferring, or otherwise disposing of any non-cash asset listed on the 2021 Statement of Financial Condition of Donald J. Trump."

"This Court will appoint an independent monitor, to be paid by defendants, for the purpose of ensuring compliance with this order," the judge wrote.

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