New York AG Letitia James Takes First Step Toward Seizing Trump’s Assets
Katelynn Richardson on March 21, 2024
Democratic New York Attorney General Letitia James recently took the first step towards seizing former President Donald Trump’s assets, public records show.
James filed judgements against Trump, his sons and the Trump Organization on March 6 with the clerk’s office in Westchester County, where Trump owns a golf resort and private estate called Seven Springs, according to Bloomberg News. Judge Arthur Engoron issued a judgement in February finding that Trump must pay $454 million in James’ lawsuit, which alleged he perpetuated financial fraud by overestimating the value of his assets to obtain loans.
Trump’s legal team wrote in a filing earlier this week that he could not post bond in his appeal, moving to stay the execution of the judgment. Trump has four days to come up with the amount before the March 25 deadline.
“The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude…In short, ‘a bond of this size is rarely, if ever, seen,’” Trump’s attorneys wrote.
🚨Just in: New York AG Letitia James has started the process of seizure President Trump assets in Westchester County. pic.twitter.com/dntlYurnuG
— The Calvin Coolidge Project (@TheCalvinCooli1) March 21, 2024
James said in response that Trump did not supply evidence he could not cover the bond.
“If defendants were truly unable to provide an undertaking, they at a minimum should have consented to have their real-estate interests held by Supreme Court to satisfy the judgment,” the filing stated.
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