Trump organization's undisclosed $40 million transfers flagged by court appointed monitor

Written by Jeppe W

Nov.30 - 2023 9:31 AM CET


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The financial oversight of the Trump Organization, led by former U.S. District Court Judge Barbara Jones, has flagged former President Donald Trump for not disclosing significant cash transfers.

According to Newsweek, Jones, appointed to monitor the Trump Organization's finances amid New York Attorney General Letitia James' $250 million lawsuit, identified three transactions between January and October that were not reported to the court.

One of these transactions included a $29 million transfer to Trump, reportedly used for tax payments. The other transactions involved insurance premiums and a $5.5 million payment related to the civil suit brought against Trump by E. Jean Carroll, where Trump was found liable for sexual assault.

In her letter to New York Judge Arthur Engoron, Jones emphasized the requirement for the Trump Organization to report all asset transfers over $5 million.

She also noted instances where tax returns for entities related to the Trump Organization were delayed in disclosure but have since been provided following her request.

The oversight comes in the context of ongoing legal challenges against Trump and his company.

In September, Trump was found liable for business fraud, related to allegations of fraudulently inflating the value of properties and assets for financial gain. Engoron, who presides over James' lawsuit, continues to oversee the trial.

Jones' report concludes that while there have been oversights, the Trump Organization is generally in compliance with court orders and has agreed to enhanced monitoring. This includes a commitment to ensuring all necessary information, including tax details and cash transfers, are promptly disclosed to the court.

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