Former President Donald Trump and his adult children said Monday they will appeal a judge’s decision to appoint monitors to oversee the family’s real estate business.
The Trumps appealed to the First Division of Appeals after Manhattan Supreme Court Judge Arthur Engolon ruled in favor of New York Attorney General Letitia James’ motion to put guardrails on the Trump Organization’s business dealings. A few days later.
James’ office is seeking $250 million in a comprehensive civil lawsuit against Trump’s company, its owners and senior management, alleging widespread fraud.
The lawsuit, filed in September, stems from a three-year investigation in which Trump Organization executives habitually lied to banks, lenders and tax authorities about the value of assets such as skyscrapers and golf courses. accusing him of obtaining monetary rewards.
The fraud allegedly extended to Trump’s net worth, which James says the former president exaggerated by “billions”. He accused the company of continuing to employ unorthodox business tactics.
Engolon has asked attorneys for the Trumps and AG to provide a list of potential candidates to babysit the company by Nov. 10. His order prohibits the Trumps from changing the company’s corporate structure or moving assets out of state without court approval. limit.
Engoron’s decision pointed to the possibility that James’ case would prevail on the merits. He said Trump’s attorneys had not provided “massive evidence” to refute AG’s “comprehensive demonstration of persistent fraud” at the firm.
Trump has denounced the lawsuit as part of a Democratic-led “witch hunt” and tried in vain to drop Engoron’s lawsuit. His lawyers explain that the allegations outlined in the lawsuit are standard practice in the real estate industry.
The first-term president, who has strongly hinted at a second run for the White House, filed a lawsuit against James in Florida last week.
The complaint closely mirrors a dismissed complaint he previously filed in New York, seeking to stop AG from monitoring the Donald J. Trump revocable trust.
James’ case runs parallel to a criminal case filed by the Manhattan District Attorney, which is currently on trial. The lawsuit was temporarily postponed last week after the first witness, company controller Jeff McConney, tested positive for COVID-19 during his testimony.