The judge presiding over former President Trump's New York civil fraud case has issued an order for the court to closely monitor the finances of the Trump Organization for a period of three years. This decision comes in the aftermath of the civil fraud case that resulted in a $464 million judgment against Trump.
In his order, Judge Arthur Engoron emphasized the need for continued monitoring of the Trump Organization's financial and accounting practices, as well as disclosures. The monitoring will involve an enhanced role for a court-appointed Monitor and the appointment of an Independent Director of Compliance.
Retired federal Judge Barbara Jones, who has been overseeing the Trump Organization's finances since a preliminary injunction in 2022, will continue in her role for the next three years. The Monitor will have access to review the organization's internal accounting records, recordkeeping, financial reporting policies, and more.
As part of the monitoring process, the Trump Organization will be required to provide the Monitor with monthly bank statements, notify the Monitor in advance of major cash or asset transfers, and inform the Monitor about any debt restructuring or payments. The court order explicitly prohibits the organization from attempting to evade the terms of the Monitorship Order through asset transfers, restructuring, or changes in corporate form.
Jones will also have the authority to advise the court on necessary operational changes within the Trump Organization. This ongoing oversight is intended to ensure compliance with the court's directives and to prevent any potential misconduct or financial irregularities within the organization.
