The Trump Organization, now under the watchful eye of a retired federal judge, recently faced discoveries of tax fraud with the company. In response, the Trumps appointed their accountant to monitor the court monitor.
On January 29, 2024, there was a strongly-worded court filing. The Trumps lawyer attacked Judge Barbara S. Jones. The lawyer accused her latest report on the family company of being an outright lie, making it seem like a mere attempt to justify her role.
The filling also characterized the report as a last-minute ploy to bolster the New York Attorney General’s just-concluded bank fraud case. “Further oversight is unwarranted and will only unjustly enrich the monitor as she engages in some ‘Javert’ like quest,” he said.
The objection also showed dissatisfaction with the $2.6 million cost incurred for Jones’s monitoring services, dismissing her findings. As the New York Supreme Court Justice mandated monitoring to prevent assets, Jones issued multiple reports. Each report suggests overall compliance by the Trump Organization.
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In a recent report initially revealed by The Daily Beast, Jones updated Justice Engoron. She implied that Donald Trump had allegedly fabricated details about a personal loan to one of his companies. This financial maneuvering could let him evade an estimated $50 million in income taxes.
The report said, “When I inquired about this loan, I was informed that there are no loan agreements that memorialize the loan. But it was a loan that was believed to be between Donald J. Trump and Chicago Unit Acquisition for $48 million.”
This minor detail created ripples just as Trump lost his second rape defamation trial. It resulted in an $83 million judgment against him in favor of journalist E. Jean Carroll. Hence, Trump’s lawyer, Clifford S. Robert, accused the monitor of a deliberate mischaracterization, doubting her competence.
He said, “The Trump entities, of course, never said the loan did not exist. Rather, they provided a copy of an internal memorandum. It reflected simply that ‘no liabilities or obligations are outstanding’ under the loan at that time.”
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However, the proof of the Trumps’ reference does not confirm the existence of the loan. The legal department sent a memo, an unsigned “inter-office memorandum,” to “file” last month. It describes an entirely different loan arrangement.
It indicates that the loan listed on Trump’s presidential financial disclosures as a $48 million loan from Trump’s “Chicago Unit Acquisition LLC” was to another entity, “401 MEZZ Venture LLC.” However, the memo provides no further information about what happened with the $48 million.
In the concluding pages of his Monday court filing, Robert diminished Jones’ nearly year-long investigation. He portrayed it as an expensive pursuit of minor errors that amount to nothing. In addition, he labeled her recent findings as “self-serving hyperbole.”
He further wrote, “The monitor has thus far been paid over $2.6 million in the past 14 months to ‘uncover’ seven immaterial disclosure items. Additionally, three irrelevant inconsistencies and five clerical errors.”
Therefore, he urged the court to intervene, emphasizing that the ongoing process is abusive and financially burdensome.
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