Something much stranger than usual it taking place these days at the Trump Organization, which is owned and run by the failed former president and his three oldest children, Don Jr., Ivanka, and Eric.
According to The Daily Beast, even though it’s March and Trump Org. is supposed to have already filed financial documents with a court-appointed overseer, the company has “…not provided a 2022 statement of financial condition to any third parties, and do not intend to do so.”
The disclosure about how the Trumps haven’t made any financial statements to banks or accounting firms was made in a Feb. 3 letter written by a retired judge tasked with babysitting the Trumps’ real estate empire, in a document that was made public in court filings last week.
The Trumps “have not provided a 2022 statement of financial condition to any third parties, and do not intend to do so,” Barbara S. Jones, a former federal judge now in private practice, wrote to the state judge who appointed her.
What does that mean for the company? One of three things:
- Trump Org. has fallen on hard financial times
- The company has found a bank willing to do business despite a lack of financial transparency
- The Trump Organization is lying
These are just any documents, either. They are a “statement of financial condition is a sensitive legal document that serves as a summary of a company’s assets and liabilities. But notably, it must also include disclosures describing how the numbers were put together.”
In other words, this isn’t something you don’t just blow off and still stay in business, mainly because no one wants to deal with such a secretive company that could well be on the verge of collapse.
New York Attorney General Letitia James has filed a civil suit against the Trump Organization that is scheduled to go to trial in October. The disgraced ex-president is attempting to delay the trial and his daughter, Ivanka, has made recent court filings in which she claims she had no idea any illegal activity was taking place inside the company, a clear sign that she is is trying to distance herself from her father and his possibly illegal actions.
