Legal AF by MeidasTouch - FED UP Judge Gives Monitor EXTRA POWERS over Trump

Episode Date: March 22, 2024

The judge presiding over Trump’s $465 million CIVIL FRAUD JUDGMENT, just gave the Court-appointed MONITOR over all of Trump and his Company’s assets ENHANCED SUPER POWERS starting today, to STOP FRAUDULENT transfer of assets; and report on ALL representations made by Trump to BONDING COMPANIES he claims won’t bond him, among other DRACONIAN remedies to stop Trump from committing FRAUD again. Michael Popok explains this ROBUST NEW ORDER and its impact on Trump’s daily business operations, and the power of the Court to put parties in jail ultimately for violating it. Get 20% off when you go to https://Liquid-IV.com and use code LEGALAF at checkout! Visit https://meidastouch.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Learn more about your ad choices. Visit megaphone.fm/adchoices

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Kraken's registration details at kraken.com legal.ca- pru dash disclaimer. This NHL season, get more excitement out of every slap shot with FanDuel, North America's number one sportsbook. You can bet on everything from the money line to over unders to which player will net the first goal. Make your picks and assemble a same game parlay with FanDuel Sportsbook, home of the SGP.

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the consequences of his actions. What am I talking about? Donald Trump just told the world he can't come up with the scratch thinks through the consequences of his actions. What am I talking about? Donald Trump just told the world he can't come up with the scratch related to finding enough money or a bond in order to post a bond to stop the execution of a four hundred and sixty five million dollar judgment in a civil fraud case. Well the judge in that civil fraud case, Judge Angoron, just nailed Donald Trump today with a new monitorship order that expands robustly the

powers, responsibilities, and duties of a former federal judge Barbara Jones, who for the last 16 months has been sitting over all of the assets of Donald Trump, his trust, the Trump organization, Donald Trump himself. And now she has pursuant to this new monitorship order, some really amazing superpowers that she's going to have for the next three years as she and a new independent compliance director sit on everything that Donald Trump does. And particularly, I want to point out to you, as I go through the monitorship orders, in a version of call and response, the judge, Judge Angoron, responding in his order to positions taken by Donald Trump concerning his inability to come up with the money to stop the execution of the New York Attorney General judgment.

Particularly you can tell that Judge Angoron doesn't really believe him, Donald Trump, about his inability to obtain a bond or a surety bond, and he wants to monitor to know more about that. He doesn't want Donald Trump to be able to reorganize or acquire new assets, including equity. I'm looking at you, Donald Trump, and your truth social equity, because that company is going public. He doesn't want Donald Trump to do that without tremendous oversight and of course giving the powers to the monitor to run right to Judge Angoran if she finds a violation, fraudulent financial statements, inappropriate restructuring of his business or other fake information and lies told by Donald Trump or his organization to counter parties. That's it.

I'm going to read now from this monitorship. And just a side note, if you've got a judge with all the powers, inherent authorities and powers under 63-12 of the executive law of New York, on your butt, on your backside, and he just ruled against you after a 13 week trial, you might wanna stop attacking him and attacking former federal judge Barbara Jones as your monitor because it's like the kid who doesn't like his babysitter, but his parents aren't firing the babysitter or the nanny

because the kid doesn't like them. Oh, they're mean to me, they made me eat my broccoli. They don't let me climb on the roof of the house and jump off with a sheet as a parachute. Oh, Barbara Jones is not going anywhere. Judge Angoran is not going anywhere. The only one that's going somewhere and it's down the drain quickly is Donald Trump.

Let me read from the monitorship order. The judge first sets the stage that on November 14, 2022, more than a year and a half ago, or almost a year and a half ago, the judge installed as an independent monitor, Honorable Barbara S. Jones, to monitor the Trump organization, and that means all the entities, including Donald Trump's financial disclosures to third parties and transfer and dissipation of assets. And now he's beefing up our superpowers in this order. Judge reminded everyone that on February 16th of 2024, he found that Donald Trump and the Trump Organization consistently falsified business records and issued in his decision and order, his DNO, which became the judgment against Donald Trump,

that there be continued monitoring of Donald Trump's financial and accounting practices and disclosures, including an enhanced role for the monitor that wasn't yet defined in that February DNO. This is on page one of the monitorship order, but that he would issue it in the future. This is the future and it starts today on the 21st of March. If anybody wondered, well, I wonder when that order kicks in today. Terms of the monitorship are extended. It starts today and it's three years from the effective date, which means today. Here's the new and improved powers of the monitor.

I want to start with some that go right, as I said, the call and response to statements Donald Trump has made just recently to show you that Judge Angoran is on the ball and is listening and he's responding and he's putting together a structure, a compliance structure to address this bad behavior and misconduct by Donald Trump. Let's start with surety bonds. There's a section on page three of the order under transfers, dissolution, and restructuring of assets. I mean, that's what everybody's really concerned about, that he's gonna just restructure his way out of this problem of having the monorship.

He's gonna hide and secrete and surreptitiously move assets. Nobody will know about them. He'll go to Florida, he'll go to Texas, he'll go to some MAGA red state, and he'll reform himself and suck all of his assets over there, not so fast. Because he hasn't done that and he's not going to be able to do that based on the

injunction and the monitorship order. Here's what it says. Paragraph 15. The Trump organization, and that means all the Trump entities including Trump, shall provide the monitor, Barbara Jones, with the following information regarding any proposed transfer, dissolution, or restructuring of assets. A. The Trump Organization shall provide copies of monthly bank statements for all bank accounts and brokerage accounts within five days of the end of each month. Here you go. B. The Trump Organization shall notify the monitor of at least five days in advance of any transfer of cash or assets more than $5 million in value, period, including in the aggregate. So $1 million, $2 million, $3 million.

If it adds up to five, boom, you got to make your disclosure to the monitor within five business days. But listen to this one, the next couple here. The Trump Organization shall provide information regarding any planned creation or dissolution of business entities, including equity, ownership, purchased or assets acquired by any defendant. That means when Donald Trump gets his 79 billion shares of truth social, when it goes public, that has to be declared to Barbara Jones. That's an asset of the monitorship. It has to be done at

least 30 days prior to such creation or dissolution. She has to get the name, where it is, what jurisdiction it is in, the value of the assets, including tax returns, the business purpose of the entity, the ownership structure, who owns it, and the expected date of dissolution. If there's transfers, by the way, among family members and other defendants, I'm looking at you, Eric and Don Jr. That counts as a transfer that has to be disclosed as well. Oh, I used to start my mornings off with chugging a huge glass of water

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or get 20% off your first order when you go to liquidiv.com and use code LEGALAF at checkout. That's 20% off your first order when you shop better hydration today using promo code LEGALAF at liquidiv.com. Any, then the Trump organization shall inform the monitor of any attempt to restructure the debt or equity

or the material assets or material liabilities of the Trump organization, right? Refinancing debt, change in ownership structure, change in the trustee structure, merger or consolidation of the trust entities. Now listen to this one. It's my favorite one so far. Little f, page four. The Trump organization shall inform the monitor in advance of any efforts to secure surety bonds. I wonder where he got the idea for that one.

Including any financial disclosures requested or required any information provided in response to such requests and the representations made by the Trump Organization in connection with trying to secure such bonds or any personal guarantees put up by the defendants and any obligations by the Trump Organization required by the surety. What are we talking about? The bonds, the bonds that he needs

to stop the enforcement of judgments. He's got one put up by Chubb Insurance, that will have to be disclosed. And all the information and all the underlying representations that were made by Donald Trump and all the assets that were pledged have to be now reported over to the monitor immediately.

How about his Donald Trump's representations just recently made with two flimsy affidavits filed by his general counsel and some golf buddy bond broker, a friend of his, that he, I can't get a bond for the 465 million. I've looked everywhere. I looked everywhere in my couch for change. Can't find it.

Really? Now he has to turn over who he applied to, not just a list of national, international insurance companies, insurances. Who did you apply to? What did you give them to apply? What was the basis for the application? What was the basis for the denial? All turned over to the monitor,

who's now gonna be a truth serum, a truth monitor, about literally about Donald Trump and what he's telling counterparties and third parties. Because the basis of the fraud at the heart of the case that's already been judged against Donald Trump is that he committed fraud persistently in the operation of his business, especially in making representations about value and misrepresenting value of his assets to third parties and counter parties, lenders, insurance companies, brokers, accountants, auditors, fill in the blank.

So of course a monitor has to sit, we can't just take his word for it anymore. And the judge wants the monitor to roll up her shirt sleeves and do something that she hasn't done so far because it wasn't part of her powers. She has a new superpower. Go look at and report back to me, Monitor Jones. This is the judge talking now. All of the internal controls or lack of them, accounting controls, financial reporting systems, and data collection within the company and tell

me how it's going. Tell me if it's being honestly done or not. Now, he's not making the monitor responsible for filing tax returns, for filing financial statements, for sending financial statements to banks and lenders that request it. She's just monitoring it. And if she sees fraud or she sees irregularity, she's under an obligation under this order to report it immediately to the judge for future action. That means contempt. That means fines. That could mean prison and jail for people that violate it. That's what that means. He's also, of course, given the monitor full access, full and free access to all information about the Trump Organization, Donald

Trump and his assets, for her to be able to monitor it. That means the defendants are ordered to give access, page four of the order, to give access to all documents, information, systems, resources, facilities, and personnel, people as reasonably requested by the monitor or the independent compliance director that fall within the scope of this monitorship order. And she's allowed at Donald Trump's expense. This is all at Donald Trump's expense. He pays the freight for her at, I'm sure, $1,500 or more an hour.

The independent compliance director at his $1,000 or her $1,000 an hour and all the people she needs to work with her. I'm sure she's got a team of at least 10 people with an average hourly rate of $1,000 an hour. So every time she gets involved with something, you're looking at no less than, my guess, no less than $15,000 an hour in order to do her work. Then she also gets to hire outside professionals to assist her. We don't expect Barbara Jones to be an accountant, to be an auditor, to be a financial compliance director person. She hires those people. So she hires an accounting firm at another $1,500 an hour for the partners and $1,000 an hour for the partners and a thousand dollars an hour for the associates. So every time Barbara Jones does something, you're talking about 30,000 hours, sorry, $30,000 an hour, sorry, $30,000 an hour times the amount of hours that she works.

Suppose she spends 30 hours of her time on this. Do the math. That's how big this number's gonna be. And who gets the bill and who foots the bill? Donald Trump and the Trump Organization, not the people of the state of New York. Now, the judges also said there has to be compliance with the monitorship order.

And on page five, he ends it this way. At any time, this is paragraph 20, at any time during the term of the monitorship, today, three years forward, if defendant, that means all the defendants, engage in a transaction or any other activity that has the effect of circumventing or frustrating the monitorship order, right? Hiding information, hiding the ball, hiding an account,

not being honest in their dealings with the monitor. The monitor may advise the court of a potential violation of this monitorship order. And that means he'll take it on from there. Signed, honorable Arthur F. Angoran with his big H, his big E, H thing circled there dated today. Now, what does that mean moving forward? That means Donald Trump

is in a world of hurt of his own making and his constant bashing, inappropriate takedowns, and vitriolic attacks on the judiciary is only backfiring. This is another example. People think he gets away with it. It sort of chaps my backside when I read or I hear commentary that says, he gets away with everything. He gets away with it. He doesn't get away with it. He has a monitor. I've been involved with Wall Street companies that have had many versions of this, a department

of theirs, because of some alleged violation. It's not fun to have a monitor basically sitting inside of your company reporting back to a judge with the full powers of a judge, right? This is not a good thing for the Trump organization. This means every day, every minute, every hour when Donald Trump is brushing his teeth and thinking about his business along with Don Jr., along with Eric, he has to think about the monitor and he has to think about his conduct and behavior and make sure that it's on the straight and narrow. That's the purpose of the monitorship order. We don't trust you anymore.

We have to verify everything you do and the shadow of the monitorship, the judge thinks, is going to keep either Donald Trump on the straight and narrow or if he steps off, he's going to know about it through the monitorship and through the reports of all these professionals. You know, her, her 10 people that work for her, the dozens of people for the accounting firm she's going to hire, they'll all fashion a report and send it to him monthly. And if Donald Trump wants to play games like he usually does, let's test this. How hot is that stove? Let me put my face on it.

Okay, go ahead. Let's see what happens. He'll scream and moan about the monitorship order. He'll threaten to appeal it, but the judges are given wide discretion, trial judges especially, to fashion remedies like monitorships and maybe even receive lucky. Donald Trump is lucky. Let me just say this, that the judge didn't order the dissolution of the companies and to put it into receivership because it is beyond repair, because it is such a defective company that it can't be fixed. He's lucky he didn't do that and instead is allowing the thing to operate for the next three years with a cleanup brigade led by Judge Barbara Jones. So he can be an M, fill in the the blank all he wants on social media and we'll

cover it. Who might have touched that word? But this monitorship is not going anywhere. Unless Donald Trump is successful, he's got, in my view, a less than 5% chance of being successful of overturning the finding of the decision in order issued in February by Judge Angoron after a 13 week trial where he was the trier of facts in which he found Donald Trump guilty of multiple counts of persistent fraud along with his organization under that law 63-12. Unless that gets overturned or substantially pared back, this modern ship's not going anywhere. We'll see all sorts of huffing and puffing. We'll see a lot of noise. We'll see a lot of heat, but no light from Donald Trump in filings and emergency applications, but it's not

going to happen. I practiced in New York for over 30 years. I know the power and the strength of the laws on the books in New York, especially when it comes to financial fraud. There's a reason that the attorney general is often referred to as the sheriff of Wall Street, whoever occupies that office. And we're gonna watch what happens next right here on the Midas Touch Network. Legal AF is the show. It's the podcast on Wednesdays and Saturdays

at 8 p.m. Eastern time, and then on audio podcast platforms of your choice. So if you like this kind of hot take at the intersection of law, politics, and justice, tune in for our show, Legal AF. Wednesdays, I'm on with Karen Friedman-Ecnifilo. Saturdays, I'm on with Ben, my Salus co-founder of the Midas Touch Network.

So until my next hot take and until my next Legal AF, this is Michael Popak reporting. Love this video? Make sure you stay up to date on the latest breaking news and all things Midas by signing up to the Midas Touch newsletter at MidasTouch.com slash newsletter.