Trump Flagged for $40 Million in Undisclosed Cash Transfers

Former President Donald Trump was flagged by the watchdog overseeing the Trump Organization’s finances for transferring $40 million in cash that was not previously disclosed to the court.

Former U.S. District Court Judge Barbara Jones, who was assigned to oversee the financial statements of Trump’s company last fall as part of New York Attorney General Letitia James’ $250 million lawsuit against the former president, wrote in a letter to New York Judge Arthur Engoron on Wednesday that three separate transactions were identified by the court between January and October that had not been properly disclosed.

Former President Donald Trump attends the game between the South Carolina Gamecocks and the Clemson Tigers at Williams-Brice Stadium on November 25, 2023 in Columbia, South Carolina. The financial watchdog overseeing the Trump Organization informed a judge on Wednesday that Trump had not made required disclosures about recent cash transfers.
(Photo by Jacob Kupferman/Getty Images

According to the letter, which was shared online by The Messenger, The Trump Organization is required to disclose all transfers of assets exceeding $5 million to the court. The transactions include a transfer of $29 million to Trump, which Jones said was used for tax payments. The other transfers in question were used for insurance premiums, as well as a $5.5 million payment related to the civil suit brought against Trump by E. Jean Carrol—Carroll was awarded $5 million in damages by a judge in May after a New York City jury found Trump liable for sexual assault.

“We have discussed with Defendants why these transactions were not previously disclosed and I have not clarified (and Defendants have agreed) that all transfers of assets out of the [Trump] Trust exceeding $5 million must be reported,” Jones wrote.

Trump was found liable for business fraud in September in connection to James’ lawsuit that accuses the former president and his company of fraudulently inflating the value of his properties and other assets to secure financial benefits. Engoron, who is overseeing the case, is presiding over the ongoing trial regarding the remainder of James’ lawsuit.

This is a developing story. It will be updated as information becomes available.