Ex-President Donald Trump is railing against a huge civil judgment facing him in New York.
Former President Donald Trump holds up a copy of a story featuring New York Attorney General Letitia James while speaking during a news conference in January in New York.NEW YORK — Former President Donald Trump could find out on Monday how New York state aims to collect over $457 million he owes in his civil business fraud case, even as he
That period ends Monday, though James could decide to allow Trump more time. The presumptive Republican presidential nominee has been trying to avoid having to post a bond for the entire sum to hold off collection whileShe didn't detail the process or specify what holdings she meant, and her office has declined more recently to discuss its plans. Meanwhile, it has filed notice of the judgment, a technical step toward potentially moving to collect.
Seizing assets is a common legal option when someone doesn’t have the cash to pay a civil court penalty. In Trump’s case, potential targets could include such properties as his Trump Tower penthouse, aircraft, Wall Street office building or golf courses. “Finding buyers for assets of this magnitude is something that doesn’t happen overnight,” he said, noting that at any ordinary auction, “the chances that people are going to be able to bid up to the true value of the property is pretty slim.”last fall over the state's allegations that he, his company and top executives vastly puffed up his wealth on financial statements, conning bankers and insurers who did business with him.
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