New York AG wants to bar Trump from moving assets amid civil fraud lawsuit
Why it matters: The AG's office has alleged Trump and the Trump Organization are looking to avoid accountability in the lawsuit, as the former president faces other legal challenges tied to his time in office, his business and the 2020 election.
State of play: The civil lawsuit from Letitia James' office filed in September accuses Trump, three of his children and the Trump Organization of widespread fraud.
- James' office said the Trump Organization registered a new entity called “Trump Organization II LLC" on the same day that the AG filed the lawsuit.
- James' office alleged Thursday that Trump's business hasn't guaranteed it will not move assets out of state to "evade legal accountability."
What she's saying: “Since we filed this sweeping lawsuit last month, Donald Trump and the Trump Organization have continued those same fraudulent practices and taken measures to evade responsibility,” James said in a statement. “Today, we are seeking an immediate stop to these actions because Mr. Trump should not get to play by different rules.”
- “We will not allow Donald Trump and the Trump Organization to continue this fraud or evade accountability,” James said on Twitter. “No one is above the law."
Zoom in: The attorney general’s office also asked for an independent party to monitor “any new financial disclosures made to banks and insurers to ensure they are not fraudulent" from Trump and the organization, James said on Twitter.
- The office said it has requested permission to serve former President Trump and Eric Trump through electronic means as “both defendants and their counsels have refused to accept service of the complaints for almost a month."
- James’ office said that the case should “proceed quickly to final resolution” and requested a trial date in early October 2023.
The other side: Per the court filing, Trump's legal team offered to provide "assurance" and "reasonable advance notice" on James' concerns, but gave no specifics on how to implement the assurances or how to enforce them.
- Trump's counsel did not respond to the proposed trial date, according to the filing.
- Trump's legal team did not immediately respond to Axios' request for comment.
James’ lawsuit included multiple allegations of fraud against Trump, saying the former president "falsely inflated his net worth by billions of dollars."
- The lawsuit alleges that Trump and the Trump Organization created over 200 "false and misleading valuations of assets on his annual Statements of Financial Condition to defraud financial institutions” from 2011 to 2021, according to her office.
- James is seeking to ban Trump, Donald Trump Jr., Ivanka Trump and Eric Trump — who are all named in the lawsuit — from serving as an officer or directors of a business register in New York state.
The big picture: Trump is under multiple investigations — from officials in Georgia over the 2020 election, in Manhattan over financial matters and at the Department of Justice over his handling of government records — as he remains a leading potential 2024 presidential candidate.
Editor's note: This headline and story have been updated with additional information.