The court-appointed monitor for the Trump Organization in the New York civil fraud case is sounding the alarm that the company's disclosures are "inconsistent" and riddled with errors, reported The Messenger on Friday.
"'I have identified certain deficiencies in the financial information that I have reviewed, including disclosures that are either incomplete, present results inconsistently, and/or contain errors,' former federal judge Barbara Jones, tasked with scrutinizing the former president's business empire, wrote in a 12-page letter," reported Adam Klasfeld. "Though she described Trump and his businesses as 'cooperative' with her investigation, Jones added that 'information required to be submitted to me pursuant to the terms of the monitorship order and review protocol has, at times, been lacking in completeness and timeliness.'"
"Jones, who also served as a monitor in Rudy Giuliani and Michael Cohen's criminal investigations, said that the Trump Organization has 'implemented changes' under her monitorship, but it needs to shape up even more," the report continued, quoting her as saying. "Absent steps to address the items above, my observations suggest misstatements and errors may continue to occur, which could result in incorrect or inaccurate reporting of financial information to third parties."
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This case, brought by New York Attorney General Letitia James, alleges that the former president and his two adult sons systematically lied about the valuation and sometimes even square footage of their properties, in order to manipulate tax liabilities and loan terms.
Justice Arthur Engoron, who is presiding over the case, already partially ruled in favor of James on summary judgment, and the case is primarily about determining damages. James is seeking $370 million in damages and the dissolution of the Trump Organization.
This comes after Trump was just slapped with an $83.3 million judgment in the E. Jean Carroll defamation case.
