Financial Monitor Finds $40 Million Loan To Donald Trump Missing In Trump Organization Accounts

According to new findings from a financial monitor, former President Donald Trump did not disclose payments of more than $40 million to himself, undervalued the annual management costs of the Trump building by $1.6 million and waited eight months to disclose the dissolution of some of his companies.

The report was submitted by retired federal judge Barbara Jones, who is monitoring Trump’s companies during his Manhattan trial. Jones delivered the news to Judge Arthur Engoron, who will decide this month how much in penalties to impose on Trump for fraudulent asset evaluation.

Engoron issued a partial summary judgment in the case in September, ruling that Trump and executives at the Trump Organization committed fraud. New York Attorney General Letitia James is seeking $370 million of the profits that the former president made.

Engoron will likely consider Jones’ report when deciding whether Trump should be banned for life from the New York real estate business, at James’ request.

Trump’s lawyer, Chris Kise, released a statement rejecting Jones’ findings.

“It is shocking that President Trump has been forced to pay millions for a monitor to prove what he has said from the outset, namely, there is no financial reporting misconduct, no fraud and simply no basis for this abusive process to continue.”

Last month, Trump was ordered to pay $83 million in damages to author E. Jean Carroll for defaming her after she came forward to accuse him of sexual assault.