James files an INJUNCTION against Trump to stop him moving assets away from his family business

New York Attorney General Letitia James on Thursday requested a preliminary injunction to prevent Donald Trump from moving assets as part of her $250 million civil lawsuit against the former president.

The same day James filed a lawsuit against Trump last month, the Trump Organization quietly registered a new entity, Trump Organization II, the court said.

The new company is a foreign company registered from Delaware.

Investigators expressed concern that Trump could move assets from the family business they are investigating to a new entity and avoid liability in the lawsuit.

“The Trump Organization has since refused to give any guarantee that it will not attempt to move assets out of New York to evade legal liability,” the attorney general’s office said.

Thursday’s filing also raised concerns that Trump and other defendants in the lawsuit could use the same “fraud and misrepresentation” in preparing Trump’s financial statements for the current year.

“Indeed, in many areas the Trump organization has continued to engage in practices that they knew were inappropriate or fraudulent,” the motion said.

Trump attorney Alina Habba said the Trump team had, in effect, given assurances that they would not move any assets.

“The OAG’s file is nothing more than a thinly veiled attempt to keep this case with Justice Engoron rather than hand it over to the Commerce Department where it belongs. We have repeatedly stated in writing that the Trump Organization has no intention of doing anything inappropriate. This is just another stunt that Ms. James hopes will help her failing political campaign,” she said in a statement.

James also called for an independent monitor to oversee the submission of financial disclosure documents to accountants and lenders

Trump is accused of increasing the value of his properties to obtain favorable loans and sometimes decreasing their value for tax purposes.

In last month’s lawsuit, James specifically named Trump and his three adult children, Don Jr., Eric and Ivanka Trump, saying they “continuously” inflated asset values.

James said Thursday that three weeks after she filed charges, the former president and his son Eric have refused to accept service of the lawsuit and have requested permission to serve them electronically.

James announced the lawsuit last month after a review of “millions of documents” with a team of investigators, telling reporters she is suing Trump for “breaking the law as part of his efforts to make a profit for himself, his family and his company. ‘

James said he did this “to cheat the system and cheat us all” and is demanding $250 million, while asking a judge to “permanently ban” Trump and his adult children “from serving as officers or directors.” registered and/or licensed in New York in any company or similar entity.”

She also wants Trump and his adult children not to take out loans in the state or buy commercial real estate for five years — hitting a business that is at the heart of their livelihoods.

Trump would keep his financial interest in the property even if a judge contradicts him in the lawsuit.