In an interview with ABC News, New York Attorney General Letitia James said she is prepared to seize assets of Donald Trump and his companies if the judgment of more than $450 million including interest against him, family members and Trump companies is not paid. The judgment came in the lawsuit James filed asking for $350 million for bank, insurance and tax fraud. Trump has 30 days from last Friday when Judge Arthur Engoron filed his order to either post a bond to secure payment or place the amount of the judgment into escrow with the New York state court system.
“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 told ABC.
James said that she was very confident that the verdict against Trump, his sons Donald Jr. and Eric, Trump companies and others would not be overturned on appeal. James expressed disagreement with Trump’s assertion that there were no victims of any fraud on his part.
“Financial frauds are not victimless crimes,” James told ABC News. “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 disputed Trump’s contention that what she did by bringing the case against him will result in businesses rushing to get out of New York. James said that from her observations the financial and business communities are doing just fine in New York.
