Trump watchdog group notifies judge of $40M in cash transfers

December 3, 2023

A financial watchdog against former President Donald Trump in his $250 million New York case notified the court of nearly ’$40 million in unreported cash transfers.

The news was shared in a letter to Judge Arthur Engoron this week in the ongoing case against Trump's organization.

The details

"The defendants were required to report any cash transfers amounting to more than $5 million. Jones said her team requested and conducted a review of statements for 12 bank accounts from January through October of this year, and there were three cash transfers exceeding $5 million, totaling approximately $40 million, including a transfer of $29 million to Donald Trump used for tax payments," NBC News reported.

“We have discussed with defendants why these were not disclosed and I have now clarified (and defendants have agreed) that all transfers out of the trust exceeding $5 million must be reported,” Jones wrote.

The background

"The civil fraud case was brought by state Attorney General Letitia James, who argues that Trump and his two adult sons systematically lied about the value of the Trump Organization's assets for years to manipulate interest rates and tax treatment," Raw Story reported.

"Engoron has already ruled in favor of James on the merits of the fraud allegations on summary judgment, and the remainder of the case is primarily about assessing damages. James is seeking hundreds of millions in fines and the dissolution of the Trump Organization," it continued.

Other payments

"Ms Jones said her team’s review of ten months of bank statements from twelve accounts linked to the Donald J. Trump Revocable Trust found three transactions totalling $40 million she did not previously know about," the Telegraph reported.

“These transactions included a cash transfer of $29 million to Donald J. Trump, which I have confirmed was used for tax payments,” she wrote.

The case could further extend the situation of Trump's lawsuit in New York seeking $250 million in damages and attempts to ban him from business in the state.

The case is in addition to cases against the former president in Washington, Georgia and Florida.

The latest details are big and appear intentionally revealed at the late date to cause Trump further damage.

" A free people [claim] their rights, as derived from the laws of nature."
Thomas Jefferson
© 2015 - 2024 Conservative Institute. All Rights Reserved.