New York Attorney General takes step toward seizing Donald Trump's assets
Photo: former US President Donald Trump (Getty Images)
The New York attorney general’s office has filed court decisions in Westchester County to confiscate Donald Trump's golf resort and private estate Seven Springs. The decisions were made as part of a civil fraud case against the former president, informs The Hill.
It is noted that the attorney general's court decisions were filed with the Westchester County clerk's office on March 6.
Judge Arthur Engoron, who presided over the extensive civil case of fraud against Trump and his business, officially issued his decision just over a week ago. He ruled that Trump, the Trump Organization, and top executives, including Trump's two sons, Eric and Donald Jr., were liable for fraud after conspiring to inflate the former president's assets for tax and insurance benefits. He ordered them to pay a total of $464 million, plus interest.
Trump has only four days to secure funds to pay this amount before New York Attorney General Letitia James can begin seizing his assets. If the former president posts bail, the enforcement of the court's decision will be automatically suspended while he appeals Engoron's ruling.
Attorney General James stated that if Trump fails to have the funds to satisfy the court judgment, her office intends to seek "judgment enforcement mechanisms in court."
The rendering of the court decision in the counties where Trump owns real estate is the first step toward attempting its seizure. In New York, where the trial took place, the decision has already been rendered. Famous buildings of the former president on Wall Street, 40 and Trump Tower, are located there.
On March 18, Trump's lawyers acknowledged that he could not provide full appellate bail due to a lack of cash on hand, despite "diligent efforts." Instead, he asked the court to accept bail in the amount of $100 million.
The insurance broker they consulted, Gary Giuliettie, stated in written testimony that the Trump Organization invests the majority of its assets in real estate, making obtaining full appellate bail "a practical impossibility."
However, the Attorney General's Office disputed this claim, stating in a Wednesday filing in the state appellate court that there is no rule limiting Trump to one surety for the entire amount of the court judgment to mitigate the "any individual surety’s risk."
The state also noted that Judge Engoron believes Juliette is not credible due to "ongoing personal and professional relationship with Donald Trump."
The deadline to post bail of $464 million is Monday, March 25.
Criminal cases against Trump
Donald Trump faces 91 criminal charges across several cases. These include cases related to a $130,000 payment to porn actress Stormy Daniels, attempts to overturn the results of the 2020 presidential election, unauthorized handling of classified information after leaving office, among others.
On February 24, New York State Judge Arthur Engoron ordered Trump to pay $454.2 million after finding him liable for manipulating his own assets in a civil fraud case.
On March 15, the court hearing in the fraud case against the former president was postponed for 30 days. The hearing was originally scheduled for March 25 but will now take place no earlier than the end of April.
Recently, Trump reached out to one of the organizations previously found guilty of fraud, seeking assistance in covering his bail in the civil fraud case in New York State.
