New York Attorney General Letitia James (D) is prepared to seize former President Trump’s assets if he does not pay the nearly $355 million verdict levied against him in a civil business fraud trial last week, she told ABC News on Tuesday.
“If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” she told ABC News.
The $355 million verdict and additional $100 million in prejudgment interest handed down Friday are the largest financial penalty levied against Trump and his companies amid his various legal cases. Legal experts have speculated that the massive penalty could require Trump to sell some of his real estate empire.
Trump’s attorneys have vowed to appeal the case, accusing Judge Arthur Engoron of judicial malpractice and labeling the case politically motivated. Trump attorney Alina Habba called the verdict “manifest injustice” and the culmination of a “multi-year, politically fueled witch hunt that was designed to ‘take down Donald Trump.’”
James said she is confident that she will succeed in appeal, and listed Trump’s 40 Wall Street tower by name as one asset that could be taken.
“We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street each and every day,” she said.
Trump and his company were found liable for business fraud, specifically manipulating the value of assets in order to garner favorable insurance rates and loan terms. The verdict also bans Trump from working in New York real estate for three years.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
