Article Summary –
Donald Trump has been ordered to pay $354 million in a civil fraud case, and if he cannot cover this fine, New York Attorney General Letitia James has stated she is ready to seize his assets. James has mentioned Trump’s 40 Wall Street skyscraper specifically. The case against Trump found that he inflated his net worth to receive more favorable loan terms, a claim he denies and plans to appeal.
Former President Trump Ordered to Pay $354 Million in Civil Fraud Case
Former President Donald Trump has been ordered to pay $354 million in a civil fraud case. Four days following the judge’s decision, New York Attorney General Letitia James stated she is ready to seize Trump’s assets if he fails to pay the fine.
“If he doesn’t have the funds to pay the judgment, we’ll seek enforcement mechanisms in court and ask the judge to seize his assets,” James expressed in an interview.
Trump, who was fined $354.8 million along with around $100 million in pre-judgment interest, has denied all charges and indicated he’ll appeal. The fine was imposed by Judge Arthur Engoron, who found Trump had inflated his net worth to secure favorable loan terms.
James expressed her confidence in the strength of her case for appeal and affirmed her readiness to seize Trump’s assets, including his 40 Wall Street skyscraper, if necessary. “We are prepared to ensure the judgment is paid to New Yorkers”, James stated, discounting Trump’s claim that the case had no victims.
James emphasized the importance of her case in promoting fair financial markets for New Yorkers. “Financial frauds are not victimless crimes. He engaged in a massive fraud. It wasn’t just a simple mistake or slight oversight, the extent of the fraud was staggering,” she added. “Just like any average New Yorker, if former presidents submit false documents to a bank, they should be held accountable.”
The New York AG also rejected Trump’s suggestion that the case will cause a massive business exodus from New York. “Tourism is up and Wall Street is doing just fine,” she said.
In the midst of losing two civil cases against columnist E. Jean Carrol, facing election interference charges from Fulton County District Attorney Fani Willis, and now losing his case against James, Trump’s legal battles continue. Summing up the situation, James remarked, “Someone once told me if you want something done, give it to a woman.”
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