(LibertySociety.com) – New York Attorney General Letitia James began her effort to seize former President Trump’s assets if he was unable to pay his bond for Judge Arthur Engoron’s civil fraud verdict. She filed judgments to seize his Seven Springs private estate and golf course in Westchester County, claiming that Trump was lying about having the liquidity to pay the $464 million bond. Her lawyer also asked the court to reject Trump’s request for an appeal unless he paid the bond in its entirety. Filing the judgments was the first step James could take to begin the asset seizure process, but her hopes and dreams were quickly shot down.
Trump posted several times about having cash in the bank to pay the bond, pointing out that Judge Engoron based his ruling on the amount of money he had amassed “through hard work, talent, and luck.” On March 25, which was the deadline to pay the bond, a New York appeals court slashed Trump’s bond amount to $175 million and gave him 10 extra days to pay. He told a crowd of reporters that he would be paying the bond in cash. Trump’s appeal of Engoron’s verdict will likely include an Eighth Amendment argument over the massive fine imposed.
Left-leaning media outlets and Democrats were outraged over the appeals court’s decision to give him a lower bond and extra time to pay. Trump’s net worth skyrocketed to over $7.3 billion as Trump Media & Technology Group went public on March 26, making him one of the 400 richest people in the world. He will not be able to sell his shares of the stock for six months, which could be viewed positively by investors. The stock was up 45 percent on the afternoon of the first day of trading, with the price over $72 per share. The company has plans to expand to video streaming and other areas in the entertainment industry.
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