Crime Donald Trump The Trump Organization

New York AG Letitia James Catches Trump Trying To Hide Assets And Hits Back In Court

New York Attorney General Letitia James just caught failed, one-term, twice-impeached former president Donald Trump trying to shift and potentially hide his assets as she pursues a civil case against him and his company, the Trump Organization.

CNBC reports that James went to court to keep the ex-president from moving assets to a holding company he recently created.

The New York Attorney General’s Office on Thursday asked a judge to bar former President Donald Trump from moving his businesses to a new holding company he formed amid a pending civil lawsuit accusing him, three of his children, and the Trump Organization of widespread fraud.

That request is spurred by concerns that the AG’s office would have difficulty getting Trump to pay a fine, if he loses the suit, as a result of his assets being held by a company that is not named as a defendant in the case.

On Sept. 21, the same day that Attorney General Letitia James sued Trump and the other defendants, her office saw that the Trump Organization had registered with New York’s secretary of state a new company, called “Trump Organization II LLC.” That new firm is incorporated in Delaware.

James made her filing in Manhattan Supreme Court, writing:

“Beyond just the continuation of its prior fraud, the Trump Organization now appears to be taking steps to restructure its business to avoid existing responsibilities under New York law.”

James also asked Judge Arthur Engoron to order Trump and his company not to use “a new statement of his business’ financial conditions in dealings with lenders and insurers.” Her concern is that he will once again use fake valuations in order to avoid having to pay fines and penalties if found guilty at trial.

“There is every reason to believe that the Defendants will continue to engage in similar fraudulent conduct right up to trial unless checked by order of this Court.”

Some have suggested that the civil case against Trump could result in his company being liquidated and its assets sold in order to pay the massive penalties that may be imposed by the court.


By Andrew Bradford

Proud progressive journalist and political adviser living behind enemy lines in Red America.

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