Former President Donald Trump is facing a looming deadline to post an appeal bond in his fraud trial case in New York City. The state’s Attorney General Letitia James, a Democrat, has registered a $454 million judgment against Trump and is threatening to seize his assets if he fails to pay up.
According to Westchester County records, Trump’s prized property, the Trump National Golf Club Westchester, and an underdeveloped 212-acre Seven Springs estate could be seized by James if Trump does not post the bond by March 25.
James has clarified that she will not hesitate to go after Trump’s assets if he fails to comply with the deadline. And it seems like she’s already got her eye on one of Trump’s most iconic properties: the Trump Building on 40 Wall St.
Trump’s lawyers are rebutting James and her team’s suggestions regarding how he can pay the bond. They argue that James’s proposed conditions are “unreasonable, unjust, and unconstitutional” and could cause irreparable harm to Trump.
But James is determined to hold Trump accountable for his past business practices, which she claims were fraudulent. Justice Arthur Engoron, who presided over the civil fraud trial, found that Trump had inflated the values of his properties by a staggering amount.
For example, Trump had valued his Mar-a-Lago property at over 2,300% of its actual worth. Critics have questioned Engoron’s ruling, pointing out that tax assessor valuations can often be lower than market values.
As the legal battle between Trump and James continues, the former president also faces a potential forced sale of his properties at “fire sale” prices. This would cause him irreparable harm as he would not be able to recover the properties later on, even if the court were to reverse the judgment against him.
BREAKING: Letitia James has begun the process of seizing Donald Trump’s property. Her office has filed with Westchester County where the Trump National Golf Club and Seven Springs Estate are located
This is an important reminder that the bank Trump supposedly defrauded testified… pic.twitter.com/lihOje74WA
— George (@BehizyTweets) March 21, 2024
Ultimately, it seems like James’s ultimate goal is to take down the Trump Organization, as she campaigned on a promise to do so. And with the support of a partisan justice system, it seems like she may be well on her way to achieving that goal.
The appeals court panel is set to make a decision by March 25 on whether the judgment against Trump can be paused while he appeals. In the meantime, it remains to be seen what the future holds for Trump and his properties in light of this legal battle.
