The former president has until Monday to come up with a bond amount or he could face property seizures.
If Letitia James makes a move to seize Donald Trump's properties to pay for his New York civil fraud fine, she could be depriving him of a number of valuable assets.The former president has until March 25 to come up with a bond amount or the New York Attorney General could begin seizure of some of the former president's assets and properties after Judge Arthur Engoron ruled that Trump has to pay roughly $355 million in penalties for fraud, a number that exceeds $464 million once interest is added.
The February ruling stated that Trump and top executives at the Trump Organization inflated the value of his assets to obtain more favorable terms from lenders and insurers.The lawsuit, brought by James, initially sought $250 million in damages, but she later increased this figure to $370 million, plus interest.This week, the former president's legal team said paying the full civil fraud penalty would be 'a practical impossibility' leading to speculation that James could soon start seizing Trump properties.Newsweek previously reviewed a document from the attorney general's office that lists properties owned by Trump that had 'fraudulent' and 'misleading' values and could end up seized: Trump Park Avenue, New York, N.Y. Trump Tower, New York, N.Y. 40 Wall Street, New York, N.Y. Seven Springs, Westchester County, N.Y. Trump International Hotel and Tower, Las Vegas, Nevada Mar-a-Lago, Palm Beach, Florida Trump National Golf Club Westchester, Briarcliff Manor, N.Y. Trump National Golf Club Charlotte, Mooresville, North Carolina Trump National Golf Club Colts Neck, Colts Neck, New Jersey Trump National Golf Club, Washington, D.C., Sterling, Virginia Trump National Golf Club Hudson Valley, Hopewell Junction, N.Y. Trump National Golf Club Jupiter, Jupiter, Florida Trump National Golf Club Los Angeles, Rancho Palos Verdes, California Trump National Golf Club Philadelphia, Pine Hill, New Jersey Trump International Golf Links Scotland Trump International Golf Links Scotland These included golf sources that are very profitable to Trump.According to Sportico, which cited the U.S. Office of Government Ethics, his Turnberry golf course is his second most profitable course, making the presumptive 2024 Republican presidential nominee $52 million between January 2022 to April 2023.His course in Jupiter, Florida, is his fourth most profitable course, having made the former president $39.4 million in that period.The fifth most profitable course is in Washington, D.C., making him $38.1 million between January 2022 and April 2023 and the seventh, in Charlotte, made Trump $32.2 million.Trump National Golf Club Colts Neck in New Jersey is the ninth most profitable course. In that time period it made Trump $23.6 million.Other profitable courses include Westchester which made the Republican $19.5 million. His course in Philadelphia made him $12.5 million and his site in Hudson Valley made him $11.4 million. In the reported time period, Aberdeen made him $6.9 million.Newsweek could not immediately verify Sportico's data and has contacted a Trump representative by email to comment on this story.If the properties are not seized, it has been speculated that Trump may have to sell off some of his real estate empire to pay the penalty issued to him by Engoron.In a post to his Truth Social account this week, Trump criticized the judgment handed down by Engoron and said he may have to sell some of his properties cheaply to come up with the bond amount.'Judge Engoron actually wants me to put up Hundreds of Millions of Dollars for the Right to Appeal his ridiculous decision. In other words, he is trying to take my Appellate Rights away from me,' Trump wrote. 'I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!'
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