Letitia James Will Seize Trump’s Buildings If $354M Fraud Fine Not Paid

  • Letitia James Will Seize Trump’s Buildings If $354M Fraud Fine Not Paid

    Posted by Unknown Member on February 20, 2024 at 5:10 pm

    Four days after a judge ordered Florida Criminal Donald Trump to pay $354 million in his civil fraud case, New York Attorney General Letitia James told ABC News that she is prepared to seize the mob boss’s assets if he is unable to find the cash to cover the fine.

    “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,” James said in an interview with ABC News’ Aaron Katersky.

    Trump was fined $354.8 million plus approximately $100 million in pre-judgment interest on Friday after Judge Arthur Engoron determined that he inflated his net worth in order get more favorable loan terms.

    Saying that she was “very confident” with the strength of her case on appeal, James reiterated that her office would not hesitate to seize one of Trump’s buildings — listing Trump’s 40 Wall Street skyscraper by name — if Trump is unable to find the case to cover the court-ordered disgorgement.

    “We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I will get 40 Wall Street each and every day,” James said.

    James directly countered Trump’s allegation that the case lacked any victims, instead describing her case as vital to ensuring financial markets treat New Yorkers fairly.

    “Financial frauds are not victimless crimes. He engaged in this massive amount of fraud. It wasn’t just a simple mistake, a slight oversight, the variations are wildly exaggerated, and the extent of the fraud was staggering,” James said.

    “If average New Yorkers went into a bank and submitted false documents, the government would throw the book at them, and the same should be true for former presidents.”

    James also rebuffed Trump’s allegation that the case will prompt a mass exodus of business activity from New York.

    “Last I checked tourism is up. Wall Street is doing just fine,” James said.

    https://abcnews.go.com/US/letitia-james-shes-prepared-seize-trumps-assets-pay/story?id=107381482

    Unknown Member replied 1 month, 3 weeks ago 3 Members · 3 Replies
  • 3 Replies
  • metta

    Member
    February 20, 2024 at 5:42 pm

    I’m sure that Trump saw this coming and has been moving his assets out of his name. With all the legal people working for him, I would think that he would have planned for this. But then again, he is going to need assets/funds if he really plans on appealing.

  • Muscle4Muscle2009

    Member
    February 21, 2024 at 2:17 am

    Fingers crossed!

  • Unknown Member

    Member
    February 21, 2024 at 8:42 am

    Why Trump Can’t Move His Assets Out of New York To Avoid Fraud Trial Penalties?

    That’s a reasonable question. It’s also one for which James, aided by Engoron, has had an answer in place for more than a year, by way of the preliminary injunction she obtained in November 2022.

    Under that injunction, through which retired federal Judge Barbara Jones was named the “independent monitor” for the Trump Organization, the three Trumps — and any of their employees or representatives, or any others acting at their direction — are prohibited from taking certain actions without notifying the attorney general, court or independent monitor.

    Specifically, they cannot sell, transfer or otherwise dispose of “any non-cash asset listed on the 2021 Statement of Financial Condition of Donald J. Trump, without first providing 14 days written notice to OAG and this Court.”

    They also have to give the monitor at least 30 days’ notice of “any planned or anticipated restructuring of the Trump Organization, its subsidiaries, and all other affiliates, or of any plans for disposing or refinancing of significant Trump Organization assets, or disposing significant liquidity.”

    What does that mean in plain English?

    Without telling the judge, the AG or the court-appointed monitor, the Trump Org cannot just play three-card monte and move their buildings or cash around so that they wind up in new business entities outside New York. Instead, at best, they have to give Engoron, James and/or Jones a head start of anywhere from two weeks to a month, in which time Trump and his fellow defendants could be further enjoined.

    The bottom line is Trump and company are mostly stuck in place until the State of New York seizes and sells the property to recoup the 450 million for non payment .

    The Court hereby enjoins Donald Trump and the Trump Organization and its affiliates from applying for loans from any financial institution chartered by or registered with the New York State Department of Financial Services for a period of three years

    Expect the Florida criminal to reach out to Putin the Saudis and or China to save his corrupt companies.

    https://www.scribd.com/document/706231478/452564-2022-People-of-the-State-of-v-People-of-the-State-of-Decision-After-Trial-1688#fullscreen&from_embed

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