The McCreary County Record
New York Attorney General Letitia James Prepares to Seize Trump’s Assets
New York attorney general Letitia James is gearing up to potentially seize former US President Donald Trump’s assets in order to collect a $454 million fine that Trump claims he is unable to pay. The process of collecting the fine through seizing assets can be intricate and time-consuming, particularly in the case of Trump’s vast real estate empire, which includes properties with various ownership claims and mortgages.
James’s office is considering freezing Trump’s bank accounts and retrieving any cash or possessions held in security deposit boxes to meet the judgement. While Trump awaits a decision from a New York appeals court on a stay of the judgement, James may move forward with seizing his cash and property.
Trump’s recently completed Spac merger for his Trump Media & Technology Group has valued his stake at approximately $3 billion, potentially providing a means to pay the fine. Nonetheless, Trump’s real estate assets are intricate and may feature co-ownership structures that could complicate the seizure process.
Legal experts warn that James may encounter difficulties in collecting the full amount of the fine, and any seizure could lead to lawsuits and prioritization of repayment to mortgage lenders. Trump’s legal team argues that confiscating and selling his properties could result in irreparable harm if the judgement is later overturned or reduced.
Despite the potential for asset seizure, it remains uncertain whether James will be able to recover the entire judgement amount through this process. Stay tuned to the McCreary County Record for further updates on this developing story.
