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Trump’s Financial Disclosures Under Scrutiny: Inconsistencies and Errors Highlighted by Court-Appointed Monitor

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In a recent development in the ongoing legal saga involving former President Donald Trump’s business dealings, a court-appointed monitor has raised concerns over the financial disclosures of Trump’s companies, reports The Messenger. The monitor, former federal judge Barbara Jones, communicated these issues to Manhattan Supreme Court Justice Arthur Engoron, marking another turn in a series of legal challenges facing the former president.

Jones, who has been overseeing Trump’s business operations since her appointment by Justice Engoron in November 2022, detailed her findings in a 12-page letter. The appointment followed a lawsuit initiated by New York State Attorney General Letitia James against Trump, his three adult children, and two business associates. This lawsuit, alleging a decade-long inflation of Trump’s assets, led to a significant ruling by Engoron last September, dissolving Trump’s New York business empire due to persistent fraudulent activities.

The letter from Jones revealed various deficiencies in the financial information provided by Trump’s companies, citing “incomplete” or “inconsistent” disclosures with “errors.” Despite noting the cooperation of Trump and his businesses with the investigation, Jones expressed concerns over the lack of completeness and timeliness in the information submitted as per the monitorship order and review protocol.

This development is critical in the context of the civil fraud trial involving the Trump Organization, where Trump and his lawyer Christopher Kise recently appeared for the closing arguments at the New York State Supreme Court. The attorney general’s office is pursuing significant penalties, including a substantial fine and a potential lifetime ban from New York’s real estate industry for Trump, citing his alleged non-compliance even after the appointment of a monitor.

Jones, with her experience as a monitor in the criminal investigations of Rudy Giuliani and Michael Cohen, acknowledged the implementation of changes within the Trump Organization under her supervision. However, she emphasized the need for further improvements to avoid continued misstatements and errors, which could lead to inaccurate financial reporting to third parties. While Jones did not explicitly state that the observed issues amounted to fraud, her letter highlights the ongoing scrutiny and potential implications for Trump’s business empire.

As the legal proceedings continue, the focus remains on Justice Engoron’s upcoming decision, expected before the end of the month, which will shape the future course of this high-profile case.