A court-appointed monitor caught former President Donald Trump quietly moving $40 million without disclosing the transfers as required by Judge Arthur Engoron, according to The Daily Beast.
Engoron, who is overseeing Trump’s New York fraud trial, last year put the Trump Organization under court monitoring after the New York attorney general raised concerns that he may try to move money out of the company before it is potentially sanctioned. Engoron appointed former U.S. District Judge Barbara Jones to oversee the finances and required Trump to report any transfers larger than $5 million.
Jones notified the court on Wednesday that she discovered that the Trump family failed to report $40 million in transfers despite the order.
"These transactions included a cash transfer of $29 million to Donald J. Trump, which I have confirmed was used for tax payments," she wrote in the letter, which was published by The Messenger. "Based upon Defendants explanations I have also confirmed that the other transfers were for insurance premiums and to an attorney escrow account."
Jones wrote in a footnote that the attorney escrow account was for Trump’s appeal in the E. Jean Carroll sexual assault judgment.
"We have discussed with Defendants why these transactions were not previously disclosed and I have now clarified (and Defendants have agreed) that all transfers of assets out of the Trust exceeding $5 million must be reported," Jones wrote.
The former judge told the court that Trump and his co-defendants in the case have since agreed to enhanced monitoring.
"Defendants continue to cooperate with me and are generally in compliance with the Court's orders, and have committed to ensure that all required information, including tax information and cash transfers, are promptly disclosed to the Monitor," she wrote.
Trump attorney Christopher Kise stressed that his client is cooperating with the court-appointed monitor.
"As before, the report confirms the defendants continue to cooperate with the monitor and remain in compliance with the court order," Kise told The Messenger. "Also as before, the report contains no mention of suspicious activity or suspected or actual fraud, because none exists."
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Engoron prior to the beginning of the trial found that Trump committed fraud for years by deceiving banks, insurers and others by undervaluing his assets and exaggerating his net worth in documents used to make deal and secure loans. Trump has appealed the ruling and the trial is still ongoing to litigate other claims brought by New York Attorney General Letitia James as well as the scope of any potential sanctions. James is seeking $250 million in penalties and the dissolution of Trump’s New York businesses.
Trump’s lawyers earlier this week sought to call Jones as a witness but Engoron shot down their request.
“Besides being untimely and inappropriate, Judge Jones and her staff are arms of the court,” Engoron said.
Jones in an August 2023 report found that Trump’s disclosures had been “incomplete” and that his trust had “not consistently provided” the required certifications of the financial statements’ accuracy.
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