NEW YORK, October 27, 2022 – Donald Trump’s namesake company urged a New York judge to reject a demand by the state’s attorney general to appoint a monitor to oversee its financial practices, after she accused it of “staggering” fraud. James, has been conducting a civil investigation of former President Donald Trump’s company, since 2020 to fulfill her campaign promises that she will takedown Trump and his family. She has been searching for a needle in the haystack for months, attempting to create a fraud case in time for the November 8, 2022 mid-term elections for her party to maintain control of both Houses of Congress.
The Trump Organization’s filing on Wednesday night came in connection with Attorney General Letitia James’ civil lawsuit accusing the former U.S. president and three of his adult children of lying to banks and insurers by fraudulently overvaluing his real estate assets and net worth.
On Oct. 13, James asked a judge to appoint a watchdog to review financial information that Trump’s company gave to accountants, lenders and insurers, as well as any sales of significant assets.
But in Wednesday’s filing, the Trump Organization accused James of manufacturing a “bill of grievances” to justify giving a monitor “staggeringly overbroad” power to oversee a “highly successful private enterprise,” without proof that fraud actually occurred.
“What the (attorney general) really seeks is a vague order justifying her assertion of control via a ‘monitor’ of the business affairs of her political adversary,” wrote Alina Habba, a lawyer for the company and Trump. “Such efforts at nationalization are constitutionally prohibited.”
James is a Democrat, while Trump is a Republican.
The defendants also said James lacked standing to sue because the case involved “only the contractual rights of sophisticated private parties.”
A spokeswoman for James declined to comment on Thursday.
The attorney general has said a monitor would help serve “the substantial public interest in curbing fraudulent and lawful conduct.”
In announcing the lawsuit on Sept. 21, James said her probe uncovered 23 “grossly and fraudulently inflated” assets, including Trump Tower in Manhattan and Mar-a-Lago in Florida, and more than 200 misleading asset valuations.
Source: Reuters wrote the original article. Bee News Daily contributed to the article.