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Trump Faces Accusations of Fraudulent Asset Relocation Amid New York Ban

Recent filings against Donald Trump by New York state officials reveal that Trump’s legal team attempted to change the address of several properties from New York to Florida after he was banned from operating businesses in New York following an 11-week fraud trial.

The move has sparked accusations of deceit and attempts by state attorneys to evade financial obligations.

Trump’s Failed Attempt at Asset Relocation

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New filings by the state attorney general’s office allege that Trump’s legal team tried to change the location of many of the properties from New York to Florida in an apparent attempt to evade the ban on their operation.

Concerns of Transparency

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Trump’s attorney’s attempts to change the address of several of these properties is questionable and raises concerns about transparency and compliance with legal proceedings, as per the Attorney General’s lawyers.

Calls for Full Bond Payment

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State officials are contesting Trump’s request to post a partial bond.

State’s Argument

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They argue that if Trump doesn’t post the full amount, he may try to later renege on the payment.

Ongoing Legal Battle

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The decision on this request would likely come after many weeks and may coincide with the start of his felony hush-money trial in Manhattan. 

Other Ongoing Investigations

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Additionally, Trump’s financial moves are the subject of ongoing investigations, which might result in his properties being restructured or dissolved, said the trial judge.

Discrepancies in Address Claims

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Trump’s legal team said several of the defendants’ addresses were in Florida instead of New York.

Judge Used Manhattan Address Instead

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However, the judge used the Manhattan addresses for these defendants in the final judgment, contradicting Trump’s assertions.

Financial Challenges in Posting Bond

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Trump’s argument against the bond is that it would force him to sell illiquid real estate at a significant loss to himself.

Recent Posting of Bond

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However, in a separate case, he has already posted a bond of more than $90 million, which seems to contradict his claims.

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