Wow!
Judge appoints independent monitor to oversee Trump Organization financial filings
A New York judge granted the state attorney general's request for a monitor after allegations the company inflated its assets by billions of dollars.
By Adam Reiss and Dareh Gregorian
A New York state judge on Thursday ordered an independent monitor to oversee the Trump Organization's financial statements following allegations that the company has been vastly overstating its assets.
Justice Arthur Engoron signed off on a preliminary injunction that also blocks former President Donald Trump's company from transferring assets without court approval.
In his ruling, the judge said the company must also make the monitor aware of all its holdings and assets and give 30 days advanced notice of any restructuring at the company and any plans for "disposing or refinancing of significant Trump Organization assets."
In a hearing earlier in the day in state Supreme Court in Lower Manhattan, Trump attorney Chris Kise argued the move was unnecessary and could hamper the company's business.
"It's really about seizing control of a successful company," Kise said of the request for a monitor.
Kevin Wallace, a lawyer for the attorney general's office, said, "Our goal is not to impact the day to day operations" of the company, but "oversight."
He said the office is trying to protect against "ongoing fraudulent activity or deceptive activity," and the "Trump Organization has a consistent record of not complying with court orders. It should not be incumbent on the court or the attorney general to be looking over their shoulder."
more:
http://www.nbcnews.com/politics/donald-trump/judge-appoints-independent-monitor-oversee-trump-organization-financia-rcna55492?
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