The New York attorney general’s office has taken a significant step towards seizing former President Trump’s assets. Specifically, they have filed judgments in Westchester County, where Trump’s golf resort and private estate, known as Seven Springs, is located. These judgments serve as the initial move towards seizing the asset. Public records indicate that the judgments were filed with the Westchester County clerk’s office on March 6.
It’s worth noting that Judge Arthur Engoron, who oversaw the civil fraud trial against Trump and his business, had already entered a multimillion-dollar judgment just over a week prior. Engoron ruled that Trump, the Trump Organization, and top executives, including his two sons Eric and Donald Jr., were liable for fraud. They were accused of conspiring to manipulate Trump’s net worth to gain tax and insurance benefits. As a result, Engoron ordered them to pay a hefty sum of $464 million, plus interest.
Now, Trump has a tight deadline of just four days to come up with the cash required to post a surety bond for his portion of the judgment. The amount he needs to come up with is a staggering $454 million, plus interest. Failure to do so will give New York Attorney General Letitia James the green light to begin seizing his assets. However, if Trump manages to post the bond, the judgment will be automatically paused while he appeals Engoron’s ruling.
Attorney General James has made it clear that if Trump fails to come up with the funds to pay off the judgment, her office will pursue “judgment enforcement mechanisms in court.” This move highlights the determination of the attorney general’s office to recover the assets owned by the former president. Filing a judgment in the counties where Trump holds properties is the initial step towards the endeavor.
It’s important to note that in New York City, where Trump’s trial took place, a judgment has already been entered against him. The legal proceedings surrounding Trump’s assets and the judgments filed demonstrate the ongoing court battles he faces. As the situation unfolds, the attorney general’s office remains steadfast in its pursuit of justice and recovery of the assets in question.
As this story continues to unfold, we will closely monitor any updates and provide you with the latest information, on Fan Reviews News.
