New York judge appoints independent monitor to oversee Trump Organization dealings

A New York judge on Thursday handed state Attorney General Letitia James a big win in her civil fraud case against the Trump Organization by appointing an independent monitor to oversee the company's major financial transactions.

Justice Arthur Engoron also required the company to secure court approval before transferring its major assets, per NBC. Under the terms, the monitor will require 30 days' advance notice of any company restructuring or plans for "disposing or refinancing of significant Trump Organization assets."

Trump attorney Chris Kise denounced the order, insisting that "It's really about seizing control of a successful company," but James's office insists the order was necessary to guard against "ongoing fraudulent activity or deceptive activity."

The "Trump Organization has a consistent record of not complying with court orders. It should not be incumbent on the court or the attorney general to be looking over their shoulder," said Kevin Wallace, an attorney with James's office, per the outlet.

James filed the request for an injunction against the Trump Organization in mid-October, asserting that the company was restructuring to avoid legal obligations.

"The Trump Organization now appears to be taking steps to restructure its business to avoid existing responsibilities under New York law," James wrote at the time. "Indeed, in many areas, the Trump Organization has continued using practices they knew to be improper or fraudulent."

The New York Democrat is pursuing a fraud case against the company, asserting that it has grossly overstated the value of its assets. She has previously rejected a settlement offer from the company and former President Donald Trump himself has denounced the suit as a political witch hunt.

The case is separate from the criminal fraud case brought by Manhattan District Attorney Alvin Bragg over an alleged scheme by senior Trump Organization officials to avoid paying taxes over the years.