Judge agrees to appoint monitor for Trump Organization assets, restricts financial transfers without approval

A state judge Thursday granted a request by the New York attorney general for an order prohibiting the Trump Organization from transferring any substantial assets, unless pre-approved by the court, and appointing an independent monitor to oversee communications regarding financial matters while a state lawsuit against the company moves forward.

New York Attorney General Letitia James' office was seeking a preliminary injunction, alleging in a court filing that the company "appears to be taking steps to restructure its business to avoid" liability and payment of any damages in a massive lawsuit filed by her office in September. The suit alleges a widespread effort to manipulate property valuations by former President Donald Trump and his eponymous company. It seeks $250 million and an end to the company's operations in the state.

The day the lawsuit was filed, the company incorporated a new entity with the state, called Trump Organization II LLC. The entity was registered days before in Delaware. James' office claimed that was possible proof the company planned to move its assets.