Trump Organization Gets Absolutely Wrecked After New Court Ruling

A judge with the New York state Supreme Court issued a devastating ruling for the Trump Organization, granting Attorney General Letitia James' request for a special monitor to keep an eye on all of the group's financial transactions. The ruling didn't take long, either - almost immediately after each side made their arguments the judge sided with James. Farron Cousins explains what this ruling means.

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*This transcript was auto-generated. Please excuse any typos.

The Trump organization suffered an absolutely amazing defeat in court at the end of this week when New York State Supreme Court, Justice Arthur Enron cited with New York Attorney General Latisha James, and granted her request for a special court appointed monitor to monitor all of the financial transactions of the Trump organization for the duration of the 250 million fraud trial that they are currently going through. Now, Trump's lawyers, now I spoke about this over at Ring of Fire. Trump's lawyers had gone into court, tried to argue terminology with the judge. The judge got very angry on Thursday with them, had to explain what words mean to them. And then shortly after that, simply said, I've reached a decision, I'm going with Latisha James. So Trump's lawyers came into court, made complete asses of themselves, got scolded by the judge. So it's no surprise that Iran would of course, uh, side with Laeticia James.

But even if Donald Trump's lawyers had come in and offered real good arguments, they still would've lost because as the judge pointed out, they've got evidence that this fraud happened. You know, the jury's gonna determine in that other trial whether or not they're gonna be held liable. But based on the evidence, it does seem worthwhile to have somebody that the court is going to appoint, make sure that all their financial transactions are on the level. Oh, and by the way, y'all are gonna pay for it. The judge says the defendants Donald Trump and the Trump Organization, y'all are gonna pay for this court appointed monitor that's on you. So that's just the icing on the cake. Oh, and another thing the judge said, in addition, of course, to the monitor, looking at all of the transactions that the Trump organization makes, uh, you're also not allowed to sell anything or move any assets to that new Trump organization to, that you've created down in Florida, if you had assets listed on your 2021 financial disclosures, you have to hold those assets for the duration of this trial.

If you have money in the bank right now, that money better still be in that same bank by the time this trial's over. After that, you can do whatever. But for the duration of this trial, you can't sell any property. You can buy if you want. I don't know that any banks are gonna lend to you, but you can buy, you can't move any money, you can't play any financial shell games trying to get out of, uh, whatever ruling eventually comes down, which we all know. I think at this point, that jury, that of course does have several

Members on it who have expressed their disdain for Donald Trump himself. Trump's lawyers ran out of exemption. So they had to let a couple anti-Trump people onto the jury for the tax fraud trial. It's gonna go against Donald Trump. Like he's not gonna win. I think that's fairly obvious. I think Trump's lawyers understand that. I think the judge understands that, and I think Leticia James understands that they have solid evidence, they have solid witnesses. They got the cfo, Alan Weisselberg testifying against them, and they got a bunch of jurors who absolutely hate their guts. So yeah, you're gonna lose, you're gonna end up having to pay $250 million. And then once you do that, of course, then come the real penalties from Laeticia James. She is likely going to bar the Trump organization from doing any business in New York ever again. Which of course is why Donald Trump set up that second trust, you know, Trump organization too, as the experts are calling it down in Florida.

He knows his company is basically gonna get the corporate death penalty in New York. So he set up this new entity, he wanted to move all the money over to it. Now he can't. And of course, as I talked about yesterday, he is suing Latisha James for doing this, which, uh, that's gonna get laughed outta court, especially after the judge already approved it. So, you know, that's not gonna go far. But overall, I think the big takeaway from all of this is that Trump, the Trump organization and Trump's lawyers continue to lose at every step of the way. And it is just wonderful to watch all this happen.