New York State Attorney General Letitia James registered the state’s $454 million judgment against Donald Trump in Westchester County on March 6, according to a Westchester County online database.
The move near where Trump has a private golf course and estate makes it easier for James to potentially seize the former president’s assets in the New York City suburb.
The former president owns the 140-acre Trump National Golf Club Westchester and Seven Springs estate in the county. If Trump fails to post an appeal bond by a Monday deadline, James, who brought the civil fraud case against the former president, could move to seize assets.
Judgments against the Trump Organization, Eric Trump, and Donald Trump Jr. have also been filed in the county.
Trump can appeal the rulings against him without paying the bonds, but he cannot prevent the seizure of his assets.
Scott Olson
The judgment stems from a February 16 ruling by New York State Supreme Court Justice Arthur Engoron, who found Trump and his two sons guilty of fraud by overvaluing certain properties, including inflating the value of Seven Springs and Trump’s private Florida resort Mar-a-Lago.
Engoron ordered an original penalty of $354 million, which ballooned to $464 million due to interest. Trump has indicated he will appeal the order, but to do so, he must first post bond.
Trump’s attorneys have sought court approval for a reduced $100 million bond, which could be ruled on shortly. They reported in a recent court filing that securing the full amount is a “practical impossibility, noting that over 30 insurance companies have refused to arrange the bond without cash collateral—not real estate—and Trump has insufficient liquid assets.
Newsweek has reached out to Trump’s legal team and the New York Attorney General’s office for comment.
James has previously said she would not hesitate to seize Trump’s assets. “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 said in an interview with ABC News in February.
On Tuesday, Trump wrote on Truth Social, “I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense?”
Selling portions of his real estate holdings could provide Trump with the necessary cash for an underwriter. Trump has multiple loans on his properties that could greatly impact their value, including on Trump Tower, Seven Springs, and 40 Wall Street.
Amid these mounting legal challenges, Trump is concurrently fundraising for his presidential campaign as well as his ongoing legal expenses involving numerous cases, both civil and criminal.
A recent Federal Election Commission filing revealed that Save America, a PAC supporting Trump, spent almost $5.4 million on legal bills in the month of February.
Uncommon Knowledge
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.