{"id":1454368,"date":"2024-01-31T03:05:00","date_gmt":"2024-01-31T08:05:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1454368"},"modified":"2024-01-31T03:05:00","modified_gmt":"2024-01-31T08:05:00","slug":"monitors-report-in-fraud-case-contains-factual-inaccuracies-is-disingenuous-says-trump-attorney","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/monitors-report-in-fraud-case-contains-factual-inaccuracies-is-disingenuous-says-trump-attorney\/1454368\/","title":{"rendered":"Monitor’s Report In Fraud Case Contains “Factual Inaccuracies”, Is “Disingenuous” Says Trump Attorney"},"content":{"rendered":"

Monitor’s Report In Fraud Case Contains “Factual Inaccuracies”, Is “Disingenuous” Says Trump Attorney<\/span><\/p>\n

\n

Authored by Catherine Yang via The Epoch Times<\/a> (emphasis ours),<\/em><\/p>\n

Attorneys for former President Donald Trump <\/strong>on Monday responded to a recent report<\/a> issued by a court-appointed independent monitor regarding Trump Organization finances, disputing former judge Barbara Jones\u2019s characterization<\/a> of the financial statements as incomplete and inconsistent.<\/strong><\/p>\n

Former U.S. President Donald Trump and his lawyers Christopher Kise and Alina Habba attend the closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court on January 11, 2024 in New York City. (Seth Wenig-Pool\/Getty Images)<\/em><\/a><\/p>\n

Ms. Jones recommended that third party monitoring of Trump Organization continue, and concluded that \u201cmisstatements and errors may continue to occur,<\/strong>\u201d which defense attorneys said was an effort to continue the monitor\u2019s \u201cexorbitant\u201d fees paid by Trump Organization. Ms. Jones has been paid $2.6 million in her 14-month period as an independent monitor on the case.<\/p>\n

Ms. Jones\u2019s team has received Trump Organization financial disclosures to third parties, including lenders and insurers; agreements and documents related to transactions; documents related to Trump Organization entities and dissolutions; bank statements; and documents provided to tax authorities.<\/p>\n

Attorney Clifford Robert claimed that the Jan. 26 report, submitted at the request of the court, was also meant to \u201cfill the gaping hole in the Attorney General\u2019s case\u201d and was issued \u201cin bad faith.\u201d<\/p>\n

\u201cThe January 26 Report also contains numerous factual inaccuracies (casting serious doubt on the Monitor\u2019s competency), fails to reference governing standards of any kind, and is otherwise misleading and disingenuous<\/strong>,\u201d the letter<\/a> reads.<\/p>\n

The report pointed out errors on seven disclosure items, three inconsistencies, and five clerical errors, which the defense argues are immaterial amid the thousands of pages of financial data related to the 400 entities Ms. Jones is monitoring.<\/p>\n

\u201cThe Monitor was appointed<\/a> to report<\/a> any financial reporting misconduct, suspicious activity or any suspected or actual fraudulent activity<\/strong>,\u201c the letter reads. \u201dThe Monitor was not appointed to identify math errors or otherwise sensationalize minor and inconsequential accounting discrepancies scattered throughout the financial reports of the over 400 companies comprising the Defendants\u2019 global enterprise.\u201d<\/p>\n

Mr. Robert pointed out that the biggest discrepancy Ms. Jones identified was a difference of $1 million in an \u201cinternal trial balance presentation,\u201d and had no actual impact. Mentions of delays in implementing transactions had provided \u201cno evidence of any inappropriate or untoward conduct,\u201d he added, claiming this representation as an effort to \u201cmalign such disclosures.\u201d<\/p>\n

Mr. Robert noted that the words \u201cmisconduct,\u201d \u201csuspicious activity,\u201d \u201csuspected fraud,\u201d or \u201cactual fraud\u201d do not appear in Ms. Jones\u2019s report at all, and argued the errors she cites have been blown out of proportion.<\/p>\n

\u201cMoreover, as the Reports and the January 26 Report make clear, every item identified has been resolved to the full satisfaction of the Monitor,\u201d he added. \u201cShe has not and cannot point to even a single instance of controversy or complaint between any of the Defendants and outside third parties<\/strong>.\u201d<\/p>\n

He pointed to five reports Ms. Jones previously submitted, in which she wrote that Trump Organization defendants were repeatedly \u201ccomplying with\u201d and \u201ccontinuing to comply with\u201d court orders and the third-party monitoring as a pattern of ongoing cooperation and good faith.<\/p>\n

\u201cThe Monitor now twists immaterial accounting items into a narrative favoring her continued appointment, and thereby the continued receipt of millions of dollars in excessive fees,\u201d Mr. Robert argued.<\/p>\n

Mr. Robert argued there is no purpose in continuing the monitoring of Trump Organization going forward.<\/p>\n

Ruling, Penalties Imminent<\/h2>\n

President Trump and other Trump Organization executives were sued by New York Attorney General Letitia James in September 2022 for fraud in the organization\u2019s financial statements from 2011 to 2021.<\/p>\n

New York Supreme Court Justice Arthur Engoron has already found the defendants liable for fraud, and is expected to issue an order this week that will detail the penalties President Trump will have to pay.<\/p>\n

The attorney general is seeking $370 million in disgorgement, which is the difference in what the state claims Trump Organization would have paid in interest and fees if the financial statement totals had been lower, plus several other penalties.<\/p>\n

The judge had already ordered the cancellation of President Trump\u2019s business certificates and the dissolution of Trump Organization companies<\/strong>. The ambiguous order had been put on pause by an appeals court after defense attorneys argued it would upend the livelihoods of hundreds of employees overnight. It was not clear whether an independent receiver would then sell off Trump Organization properties under bankruptcy procedures, and the judge had said he would revisit the details.<\/p>\n

The attorney general is also seeking to bar President Trump from doing business in New York or with New York-based financial organizations for life,<\/a> as well as five-year bans for his sons Eric Trump and Donald Trump Jr., who are executive vice presidents at Trump Organization.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 01\/30\/2024 – 22:05<\/span><\/p>\n

\u200bRead More<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Monitor’s Report In Fraud Case Contains “Factual Inaccuracies”, Is “Disingenuous” Says Trump Attorney Authored by Catherine Yang via The Epoch Times (emphasis ours), Attorneys for…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1454368","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1454368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1454368"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1454368\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1454368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1454368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1454368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}