In the NY AG fraud case, the judge names an independent monitor to oversee Trump Org’s financial reporting.

Barbara Jones, a retired judge, was appointed by a New York court to supervise some of the Trump Organization’s financial statements.

The appointment was made as a result of the lawsuit brought by New York Attorney General Letitia James, who is accusing former President Donald Trump, his companies, and members of his family of committing widespread fraud.

Jones, who is acting as an independent monitor, will also see to it that a court order prohibiting the Trump Organization from moving any recent non-cash assets without prior notice is followed.

As part of a lawsuit alleging widespread fraud by former president Donald Trump, his businesses, and his family members, a New York court on Monday appointed retired Judge Barbara Jones to oversee some of the Trump Organization’s financial statements.

Jones had been endorsed as their top choice to act as the case’s independent monitor by both Trump and New York Attorney General Letitia James, who had brought the broad fraud lawsuit in September.

Jones, who retired from her position as a federal judge in early 2013, has recently been involved in a number of legal disputes involving Trump. She was designated a “special master” in 2018 to locate possible attorney-client privilege claims in the massive collection of documents that had been seized as part of the criminal investigation into Michael Cohen, who was at the time Trump’s personal attorney.

Jones was chosen to act as special master last year to examine documents seized from Rudy Giuliani, the former mayor of New York City who had also served as Trump’s personal attorney.

When CNBC contacted Trump’s attorneys for comment regarding the appointment in James’ case, they did not respond right away.

Justice Arthur Engoron of the New York Supreme Court had earlier this month granted James’ request to designate a third-party organization to monitor various Trump Org financial statements and other records.

The monitor will also make sure that the company complies with Engoron’s order prohibiting it from transferring any recent non-cash assets without first notifying the court. The Trump Organization appears to be attempting to circumvent New York regulations by restructuring its business outside of the state, James had warned the judge. She pointed out that the day the lawsuit was filed, the Trump Organization registered a new entity called Trump Organization II.

The AG’s request for the watchdog had been opposed by Trump’s legal team, who described it as a “politically motivated attempt to nationalize a highly successful private enterprise.”

However, Engoron declared those allegations to be “entirely without merit.” He claimed that Trump’s legal team was confusing the roles of a monitor and a receiver, who would “in effect, take control of the entire organization.”

In addition to financial statements, statements of financial condition, asset valuation disclosures, and other disclosures to lenders, insurers, and other financial institutions, the judge ordered the defendants to give monitor these documents.

Additionally, he mandated that within two weeks of her appointment, they provide the monitor with “a full and accurate description of the structure and liquid or illiquid holdings and assets of the Trump Organization, its subsidiaries, and all other affiliates.”

Engoron noted in his order from Monday afternoon that Jones had said she would accept the appointment in a previous phone call.

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