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 judgments 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 judgment 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 a 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.
All republished articles must include our logo, our reporter’s byline, and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact [email protected].
Click this link for the original source of this article.
Author: Katelynn Richardson
This content is courtesy of, and owned and copyrighted by, https://www.bizpacreview.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.