New York AG Takes Initial Move To Potentially Seize Trump Assets
The New York Attorney General’s office has recently made a key move that moves them potentially closer to seizing former President Donald Trump’s properties. Last week, the AG’s office filed judgments in Westchester County, New York where Trump’s Seven Springs estate is located. This initial filing of judgments is the first step that would allow the state to pursue Trump assets. Like Seven Springs to help satisfy the $464 million civil penalty recently awarded in their fraud lawsuit against Trump.
By entering the judgments, New York state lawyers are now able to potentially take further actions. Like putting liens on Trump assets or moving to foreclose on his properties. However, seizing the properties would still not be a simple or fast process as Trump has structured his business empire. Across hundreds of limited liability companies. His legal team is also expected to continue vigorously fighting the penalty. Nevertheless, the AG’s office has made clear they will pursue all available avenues to recover the funds, including potentially seizing Trump assets.
Trump Challenges Bond Amount And Ideas
Trump and his lawyers have pushed back strongly against the half-billion dollar bond amount. And some of the New York AG’s proposed options for posting it. In a filing this week, they argued it would be “impractical and unjust” to require such a massive bond. Trump’s filing claimed selling properties to cover the bond could cause “irreparable injury” . And that being forced to post the full judgment upfront violates both federal and New York state constitutions. This ensures the legal battle over efforts to seize Trump assets will likely continue to play out in the courts.
As the various parties debate next steps, the judge overseeing the case has now granted expanded authority to the court-appointed monitor overseeing Trump’s business empire. This monitor will have increased oversight of Trump Organization finances and must be informed of any efforts to obtain bonds to appeal, which could stall or block efforts to seize Trump assets. The legal fight appears set to drag on as the New York AG seeks to collect on the sizable civil penalty through Trump assets while Trump resists posting the large bond or losing control of his properties.
