In a surprising development, the financial watchdog overseeing the Trump Organization has informed a New York judge about $40 million in cash transfers that were not previously disclosed, as required by a court-appointed monitor. The monitor, Barbara Jones, revealed these undisclosed transactions in a letter filed in Manhattan Supreme Court on Wednesday.

According to Jones, these cash transfers included a staggering $29 million that was sent to former President Donald Trump. It was disclosed that this substantial sum was utilized by Trump to make tax payments. In addition, the remaining transfers were reportedly used for insurance premiums and as security for an ongoing civil jury verdict appeal in favor of writer E. Jean Carroll. Carroll had accused Trump of sexually assaulting her in the 1990s and defaming her when she went public with her allegations during his presidency.

Jones, a retired federal judge appointed in November 2022 to oversee the financial statements of the Trump Organization, highlighted that her report outlined three cash transfers exceeding $5 million each, totaling approximately $40 million. These transfers were made from Trump's trust.

The court-appointed monitor expressed concerns over the lack of disclosure by the Trump Organization and its affiliates, stressing that all transfers exceeding $5 million must be reported to her. Jones noted that she has discussed the matter with the defendants and that they have agreed to adhere to this new reporting requirement.

The revelations come amidst the ongoing civil trial against Trump, led by Judge Arthur Engoron. The trial forms part of New York Attorney General Letitia James' $250 million business fraud lawsuit against the Trump Organization, Donald Trump, and his two adult sons. While the trial continues, it is worth mentioning that Trump remains the clear frontrunner in the 2024 Republican presidential nomination contest.

Responding to Jones' report, Trump's lawyer, Christopher Kise, emphasized that the defendants continue to cooperate with the monitor and are in compliance with the court order. He further stated that the report did not mention any suspicious activity or actual fraud, validating their position.

It is important to note that Jones had previously flagged issues of incompleteness and inconsistency in certain disclosures made by the Trump Organization. Trump and the company defended their practices but agreed to modify their disclosure methods in response to Jones' concerns.

New York Attorney General Letitia James' spokesperson declined to comment on Jones' recent letter.

The disclosure of these previously unknown cash transfers adds another layer of scrutiny to the financial dealings of the Trump Organization. As the trial continues, the full extent of these transactions and their impact on the ongoing lawsuit remains to be seen.