UPDATE: New York Attorney General Takes First Steps To Seize Donald Trump’s Assets
Donald Trump may have to give up some of his prized possessions as the New York attorney general has filed judgments indicating the state is gearing up to seize his assets.
According to CNN, the documents filed in Westchester County show the state aims for the former president’s private Seven Springs estate and golf course.
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The judgments hit the clerk’s office on March 6 in Westchester County, and Trump’s baller billionaire image is quickly crumbling.
Further Steps The Attorney General Can Take
Additionally, the state can place liens on assets or take steps to foreclose on Trump’s properties. If the property is to be seized, additional actions will follow in court.
Furthermore, the judgment was entered in NYC, where the 77-year-old has many of his properties, including Trump Tower, 40 Wall Street, and several apartment buildings.
State attorneys are swiftly moving after Judge Arthur Engoron’s $464 million bond ruling for Trump’s civil fraud case. A bond he is struggling to pay. The judge’s decision included the Trump Organization and his sons, Eric and Donald Trump Jr.
Trump’s Attempt To Secure Bond
The former president’s bond is due at the month’s end.
Trump’s lawyers made attempts with 30 underwriters to back his mega million bond, but they all declined.
His attorneys stated, “The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude.”
Donnie is raising moola for his presidential campaign in addition to securing funds for legal bills.
He has four days to cough up the funds or convince an appeals court to give him a smaller amount to pay. Additionally, he could convince officials to defer the payment until after the appeal.
Trump Speaks About His Legal Trouble
Trump took to Truth Social on Thursday, stating that acquiring that kind of money for the bond is “VERY EXPENSIVE.” He added it was “not possible for bonding companies to do in such a high amount.”
The state seizing Trump’s assets will not be a fast or easy process.
The entrepreneur’s businesses are structured in a way that complicates proceedings for the state.
Nikos Passas, a professor of criminology stated, “They are complexly organized and he is not on paper the owner and therefore a judgment against him would not be executable directly against certain properties. Sorting this out is not going to be simple and it’s not going to be quick.”
The professor added, “All this is completely undermining the brand.”
The question is: at the end of all of this, will Trump remain a billionaire?
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