Which of Donald Trump’s assets would the NY Attorney General seize if he can’t pay bond?
The New York Attorney General’s office has taken the initial steps in preparation to seize Donald Trump’s assets if he cannot post $464 million bond.
In January, the corporate fraud civil trial against Donald Trump came to an end. After a little more than a month after closing arguments were presented, Judge Arthur Engoron ordered the former president and the Trump Organization to pay $355 million in damages.
In addition, Trump was prohibited from serving as an officer or director of any New York corporation or other legal entity in New York for a period of three years.
In 2022, New York Attorney General Letitia James’ office filed a civil lawsuit against Trump, his three eldest children, and the Trump Organization for fraud. The lawsuit alleged efforts spanning 10 years to inflate the former president’s personal net worth to obtain favorable loan deals.
Trump cannot pay the “bail”
Trump is currently appealing Judge Engoron’s ruling. However, to prevent the state from enforcing the sentence, the former president must pay a type of bond which would be kept in an account pending the appeal process. With interest included, the fine amounts to $464 million dollars.
However, Trump’s lawyers say that he cannot secure the necessary bond. Although the former president’s fortune exceeds $2 billion, he allegedly does not have enough cash and liquid assets.
According to information shared by his legal team, 30 bail bond companies were contacted to reach their estimate, however, these companies only accept cash or bonds, not real estate.
Trump properties that could be seized
The New York Attorney General’s office has taken the initial steps in preparation to seize Trump’s assets, according to a CNN report, as judgements have been filed in the Westchester County, indicating that the state is preparing to try to seize Donald Trump’s golf course and the private property he owns north of Manhattan, known as Seven Springs.
On the other hand, the judgement has already been issued in New York City, where other Trump properties are located, including Trump Tower, his penthouse at Trump Tower, 40 Wall Street, his hotel adjacent to Central Park and numerous apartment buildings.
At the moment, according to CNN, no judgements have been filed in Florida, where Trump’s Mar-a-Lago property along with the Trump National Doral Golf Club and resort are located. Nor in Cook County, Illinois, where Trump’s hotel in Chicago is located.
Trump has until Monday 25 March to comply with the sentence or convince an appeals court to allow him to pay a smaller amount or defer payment until after the appeals process ends.