The Trump Organization is prohibited from moving any non-cash assets without first notifying the court and the state attorney general’s office, and a special monitor has been appointed to oversee its financial records and reports.
Trump and three of his adult children, who were named in a broad lawsuit filed in September by New York Attorney General Letitia James, have been dealt a serious blow by the judge’s decision on Thursday.
The Trumps, along with other top Trump Organization officials, were charged with years of financial statement fraud in the lawsuit.

According to Engoron’s written order, there were “continuous misrepresentations throughout every one of Mr. Trump’s [Statements of Financial Condition] between 2011 and 2021,” justifying the appointment of an impartial monitor.
The monitor would “ensure there is no more fraud or criminality that breaches” the fraudulent activity ban set forth by New York state law.
In addition to fighting James’ lawsuit in New York, Trump launched a lawsuit in Florida on Wednesday against the New York official. James is accused in the lawsuit of infringing on Trump’s right to privacy in Florida, where he currently resides. Additionally, it charges that by filing a lawsuit against the Trump Organization, the attorney general attempted to seize control of Trump’s businesses.

Trump branded the judgement “stupid” and urged the Florida and New York courts to cease what he called a “inquisition” in a statement issued late on Thursday.
In addition, Engeron’s decision allowed James’ motion to bar Trump and his company from relocating assets without first alerting the court. Trump appeared to be attempting to transfer the Trump organisations from the state of New York, according to James, who claimed this in her request as an apparent attempt to dodge her jurisdiction.
James said that the company established a new Trump Organization, LLC organisation in Delaware on September 15. The Trump Organization created Trump Organization II, LLC as a legal entity by filing documents with the state of New York a week later new corporation.

In a court filing on October 27, Trump’s attorneys opposed James’ request for an outside monitor, claiming that doing so would amount to “a politically driven attempt to nationalise a very successful private corporation.”

Engoron disagreed with their justification and stated in his decision that the Trump legal team was confusing a court-ordered receiver with an impartial monitor who was designated by the court. According to Engoron, a receiver “takes control of the entire business,” whereas a monitor “oversees.”

In a statement released on Thursday, Trump attorney Chris Kise disputed the distinction, claiming that the judge’s order “seizes control of the financial affairs” of Trump’s company “based on nothing more than gross exaggeration of standard valuation differences,” which Kise claimed were “common in complex commercial real estate financing transactions.”
Trump’s legal team has argued that his exaggeration of the prices of his properties when he applied for bank loans was simply a bargaining tactic and not financial fraud ever since the action was initially filed in September.