NEW YORK, NEW YORK - OCTOBER 3: Former U.S. President Donald Trump appears in the courtroom with his lawyers for his civil fraud trial at New York State Supreme Court on October 03, 2023 in New York City. Former President Trump may be forced to sell off his properties after Justice Arthur Engoron canceled his business certificates and ruled that he committed fraud for years while building his real estate empire after being sued by Attorney General Letitia James, who is seeking $250 million in damages. The trial will determine how much he and his companies will be penalized for the fraud. (Photo by Shannon Stapleton-Pool/Getty Images)
On Friday, a New York state judge ruled that former President Donald Trump and his two eldest sons are barred from running their real-estate empire Trump Organization.
Now, the management role is going to lawyer and former federal judge Barbara Jones. Jones has served as a monitor for the Trump Organization since November 2022. Jones oversaw financial matters within the company. This is the first time in the company’s history that a non-family member is taking over a key role.
Jones was appointed as a financial monitor after Trump and his family faced civil fraud charges. The Trump Organization was required to report any new financial moves to Jones, but now the company will have to seek her permission before making any decisions. A compliance officer will also be hired and required to report to Jones.
During her time with the Trump Organization, Jones said that the company failed to report significant financial transactions within an appropriate amount of time. Jones found that a $40 million loan to Trump was never documented. However, Trump’s lawyers say Jones did not accurately report her findings.
Jones previously served on the federal bench, being appointed in 1995 during President Bill Clinton‘s term. She also worked as a federal prosecutor in the organized crime task force of New York.
Jones’ appointment comes as part of a sprawling ruling in the Trump Organization civil fraud case, which included a $355 million fine for the former president.
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