Following a civil trial verdict that found Donald Trump guilty of defrauding investors, New York Attorney General Letitia James is taking steps to potentially seize Trump’s properties, with a looming deadline for Trump to secure a bond.
New York Attorney General Letitia James is taking steps to seize assets belonging to former President Donald Trump in New York, following a civil trial verdict that found him guilty of defrauding investors. The judgment against Trump amounts to $464 million. James has indicated that Trump’s properties, including the Seven Springs estate and Trump National Golf Club Westchester in Westchester County, as well as Trump Tower in Manhattan, could be seized if he fails to pay or secure a bond to block enforcement. The deadline for Trump to post the bond is set for March 25.
The case originated from a three-year investigation into fraudulent activities by Trump and his associates to inflate his net worth and assets, with the owed amount, including interest, exceeding $464 million. Trump’s legal team has voiced concerns over the difficulties of securing a bond or selling properties to finance an appeal.
Trump has publicly appealed to his supporters for financial help to meet the bond deadline in a message titled “Keep your filthy hands off Trump Tower!”. He has considered seeking financial support from wealthy overseas donors, with speculation about potential donors from Russia or Saudi Arabia.
Additionally, Trump’s involvement in the merger of his social media platform, Truth Social, through Digital World Acquisition Corp., could potentially increase his net worth by tens of millions of dollars. Despite this, Trump may not be able to immediately cash out due to a “lock-up” provision.
The potential loss of properties like Seven Springs, which holds sentimental value for the Trump family, underscores the seriousness of Trump’s legal and financial troubles. Trump’s claim of having nearly $500 million in cash has been criticized by legal experts, contrasting his legal team’s assertions of financial strain.
Comedian Jimmy Kimmel discussed the possible seizure of Trump’s assets on his late-night show, adding a humorous perspective to the ongoing legal battle. Amidst this pressure, Trump’s legal and financial future appears uncertain, with the deadline rapidly approaching and significant assets at risk of seizure by the New York Attorney General’s office.
