According to Mediaite, former President Donald Trump reportedly used $40 million in undisclosed payments to cover taxes and expenses related to his sexual assault judgment. The revelation came from Judge Barbara Jones, the independent monitor overseeing Trump Organization finances as requested by New York Attorney General Letitia James. Jones discovered three separate cash transfers exceeding $5 million each, totaling around $40 million. These transactions included $29 million for tax payments and approximately $10 million for insurance premiums.
In a letter to Judge Arthur Engoron, Jones clarified that she discussed the undisclosed payments with the Trump Organization, and they agreed that all transfers of assets exceeding $5 million must be reported. While the defense has acknowledged their mistake and committed to promptly disclosing required information, Jones also flagged a delayed disclosure of tax returns for six of Trump’s entities and requested details about an intercompany loan.
The payments in question reportedly covered various expenses, including the $5.6 million Trump posted as security while appealing a civil jury verdict favoring writer E. Jean Carroll, who accused him of sexually assaulting her in the 1990s and defaming her when she went public with the allegation. Despite the ongoing trial and Trump’s testimony, the defense asserts that they are generally in compliance with the court’s orders.
FORMER JUDGE BARBARA JONES, THE INDEPENDENT MONITOR REQUESTED BY THE NEW YORK ATTORNEY GENERAL IN THE CASE, WROTE IN A LETTER TO JUDGE ARTHUR ENGORON THAT SHE HAD IDENTIFIED THREE SEPARATE CASH TRANSFERS OF MORE THAN $5 MILLION, TOTALING APPROXIMATELY $40 MILLION. JONES SAID THE TRANSFERS INCLUDED $29 MILLION IN TAX PAYMENTS AND ROUGHLY $10 MILLION FOR INSURANCE PREMIUMS.
“WE HAVE DISCUSSED WITH DEFENDANTS WHY THESE TRANSACTIONS WERE NOT PREVIOUSLY DISCLOSED, AND I HAVE NOW CLARIFIED (AND DEFENDANTS HAVE AGREED) THAT ALL TRANSFERS OF ASSETS OUT OF THE TRUST EXCEEDING $5 MILLION MUST BE REPORTED,” JONES WROTE.
JONES ALSO REQUESTED INFORMATION RELATED TO AN INTERCOMPANY LOAN AND FLAGGED THE DELAYED DISCLOSURE OF TAX RETURNS FOR SIX OF TRUMP’S ENTITIES, WHICH DEFENDANTS ACKNOWLEDGED AS THEIR MISTAKE.
This development is part of a broader legal landscape where Trump faces multiple legal challenges, including investigations by the New York attorney general and Manhattan district attorney, ongoing lawsuits, and the recent revelation of documents related to his efforts to overturn the 2020 election results.
