- Donald Trump has formed ‘Trump Organization II’ in what NY officials call a move to protect assets.
- The new company was incorporated on the same day NY’s AG sued the Trump Organization for fraud.
- The AG, Letitia James, is asking a judge to bar Trump from moving assets to the new entity.
With his business empire, the Trump Organization, in civil and criminal jeopardy in New York, Donald Trump has come up with an apparent solution that has angered state officials: He has formed the Trump Organization II.
The new company was registered with the New York Department of State on September 21, public records show — the very day that the state attorney general, Letitia James, filed a 220-page fraud lawsuit against Trump, his family, and the original Trump Organization, the umbrella company for the former president’s real-estate and golf-resort holdings.
On Thursday, James’ office fought back against the move, filing court papers that ask a Manhattan judge to bar Trump from moving assets from the Trump Organization into the new entity, the AG said in a press release.
The court papers ask the judge, New York Supreme Court Justice Arthur Engoron, to immediately appoint an independent monitor to oversee the Trump Organization.
The court papers also ask Engoron to allow the attorney general’s office to electronically serve Trump with a copy of the lawsuit. It’s been three weeks since the lawsuit was filed, and Trump has yet to formally accept service, as first reported by Insider on Monday.
This is a breaking story; please check back for developments.
