The New York Attorney General’s office has begun the process of potentially confiscating properties owned by former President Donald Trump in New York. This move comes in light of a significant $464 million judgment against Trump and his organization. Trump has vehemently opposed the bond suggestions, describing them as “impractical and unjust.”
What Happened: The New York Attorney General’s office has lodged judgments in Westchester County, signaling the state’s intent to seize Trump’s golf course and Seven Springs estate. This move follows a ruling against Trump, his sons, and the Trump Organization by Judge Arthur Engoron on March 6, reported CNN.
The judgments have already been registered in New York City, where Trump owns several properties, including Trump Tower and a hotel near Central Park. However, no judgments have been filed yet in Florida or Illinois, where other Trump properties are located.
Trump expressed on his Truth Social platform that raising funds is “VERY EXPENSIVE” and beyond the capability of bonding companies for such a high amount.
Why It Matters: The twists and turns in this case date back to early 2024, when New York Attorney General Letitia James initiated a fraud case against Trump for alleged fraudulent activities related to property valuations. The estimated fines climbed from an initial $250 million to a substantial $370 million, including interest.
In February, James was ready to seize Trump's assets if he failed to pay the hefty $354 million fine in a civil fraud case. Trump was penalized for exaggerating his net worth to secure more favorable loan terms.
James could proceed with asset seizure if Trump cannot satisfy the judgment or persuade an appeals court for a reduction or deferment. This move could have significant implications for Trump’s future, potentially spelling the end of his business in New York and beyond.
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