New York AG Files Motion To Stop Trump From Moving Assets Amid Fraud Lawsuit
New York Attorney General Letitia James filed a motion Thursday in an effort to stop former President Donald Trump and his businesses from moving assets into a newly formed holding company, amid a pending civil lawsuit that accuses him, three of his children and the Trump Organization of rampant fraud.
The attorney general's office seeks to block the Organization from transferring assets to any outside entities without court approval to avoid Trump skirting any fines imposed by the pending case.
"Since we filed this sweeping lawsuit last month, Donald Trump and the Trump Organization have continued those same fraudulent practices and taken measures to evade responsibility," James said in a statement released in conjunction with her office. "Today, we are seeking an immediate stop to these actions because Mr. Trump should not get to play by different rules."
The state office says that the Trump Organization registered a new entity with the New York Secretary of State, Trump Organization II LLC on the same day that the $250 million lawsuit against the former president was filed.
"That entity is a foreign corporation that was incorporated in Delaware. The Trump Organization has since refused to provide any assurance that it will not seek to move assets out of New York to evade legal accountability," the office said in the statement.
James and her office are also seeking an independent monitor who would oversee the submission of any financial statements by Trump, as well as permission to serve the lawsuit electronically.
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