New York Attorney General Letitia James said the ruling means "Donald Trump and his companies cannot continue the extensive fraud that we uncovered."
A New York judge on Thursday granted the state Attorney General Letitia James' request for an independent monitor to supervise the businesses of former U.S. President Donald Trump, who is a defendant in a fraud lawsuit recently filed by James.
"Time and time again, the courts have ruled that Donald Trump cannot evade the law for personal gain."
New York Supreme Court Justice Arthur Engoron issued an order approving James' motion for the appointment of an independent monitor to oversee Trump's dealings with financial institutions, as well as any major asset sales.
In a statement welcoming Thursday's order, James said that "time and time again, the courts have ruled that Donald Trump cannot evade the law for personal gain."
"Today's decision will ensure that Donald Trump and his companies cannot continue the extensive fraud that we uncovered and will require the appointment of an independent monitor to oversee compliance at the Trump Organization," she added. "No number of lawsuits, delay tactics, or threats will stop our pursuit of justice."
James accuses the former president and other members of his business organization of "engaging in ongoing and extensive acts of fraud in the preparation of Mr. Trump's annual statements of financial condition" in violation of state executive and criminal laws.
According to James, "Trump, his family, and the Trump Organization used fraudulent and misleading asset valuations over 200 times in 10 years on his annual financial statements."
\u201cDonald Trump and the Trump Organization cannot move assets to evade liability and an independent monitor will be installed to oversee financial compliance at the Trump Organization.\n\nNo matter how powerful you are, everyone has to play by the same set of rules.\u201d— NY AG James (@NY AG James) 1667506667
"Since Mr. Trump and the Trump Organization became aware of [the attorney general's] investigation, they have continued to engage in many practices they knew to be improper or fraudulent," James' office asserted, "including on Mr. Trump's 2021 statement of financial condition."