Former US President Donald Trump arrives back from a break at New York Supreme Court during his civil fraud trial on November 6, 2023 in New York City.
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The financial watchdog overseeing the Trump Organization informed a New York judge on Wednesday about $40 million in cash transfers that were not previously disclosed to that court-appointed monitor, as is required.
The transactions included $29 million sent to former President Donald Trump, which he used to make tax payments, Barbara Jones, the monitor, told Judge Arthur Engoron in a letter filed in Manhattan Supreme Court.
The other transfers were for insurance premiums and more than $5 million that Trump has posted as surety against a civil judgment in favor of the writer E. Jean Carroll, who has accused him of sexually assaulting her.
Jones, who is a retired federal judge, was appointed in November 2022 to oversee the financial statements of Trump’s company as part of a lawsuit by the New York attorney general’s $250 million business fraud lawsuit against the Trump Organization, the former president, and his two adult sons.
“We have discussed with Defendants why these transactions were not previously disclosed,” Jones wrote to Engoron.
“And I have no clarified (and Defendants have agreed) that all transfers of assets out of the [Trump] Trust exceeding $5 million must be reported,” Jones added, emphasizing the word “all” in italics.
Engoron is presiding over the ongoing civil trial of the attorney general’s lawsuit against Trump.
During the opening week of the trial, Engoron ordered that for each of the Trump financial entities involved in the suit, does defendants “shall provide the Monitor with advance notice” of “any anticipated transfer of assets or liabilities to any other entity”
A lawyer for Trump did not immediately respond to a request for comment on Jones’ new letter.
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