donald trump You may have to give up some of your most valuable assets as the New York Attorney General has issued rulings indicating that the state is preparing to seize your assets.
According to CNNdocuments filed in Westchester County show the state intends to obtain the former president’s private property and golf course in Seven Springs.
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The sentences arrived at the clerk’s office on March 6 in Westchester County, and Trump’s billionaire image is quickly crumbling.
Other actions the attorney general may take
Additionally, the state could place liens on assets or take action to foreclose on Trump properties. If the property is seized, further action will be taken in court.
Furthermore, the sentence was handed down in New York, where the 77-year-old owns many of his properties, including Trump Tower, 40 Wall Street and several apartment buildings.
State prosecutors are moving quickly after Judge Arthur Engoron’s $464 million bail decision for Trump’s civil fraud case. A title he is struggling to pay. The judge’s ruling included the Trump Organization and his sons, Eric and Donald Trump Jr..
Trump’s attempt to secure bonds
The former president’s bail expires at the end of the month.
Trump’s lawyers made attempts with 30 underwriters to secure his million-dollar bond, but they all refused.
His lawyers stated, “The value of the judgment, with interest, exceeds $464 million, and very few bail bonds companies will consider a bond of anything close to that magnitude.”
Donnie is raising moola for his presidential campaign as well as securing funds for cool projects.
He has four days to disburse the funds or convince an appeals court to give him a smaller amount to pay. Furthermore, he could convince authorities to postpone payment until after the appeal.
Trump talks about his legal problem
Trump went on Truth Social on Thursday, stating that acquiring that kind of money for the title is “VERY EXPENSIVE.” He added that it was “it is not possible for companies to issue bonds at such a high value.”
The state’s seizure of Trump’s assets will not be a quick or easy process.
The businessman’s business is structured in a way that complicates procedures for the State.
Nikos Passas, professor of criminology stated: “They are complexly organized and he is not the owner on paper and therefore a judgment against him would not be directly enforceable against certain properties. Solving this will not be simple and it will not be quick.”
The teacher added, “All of this is completely undermining the brand.”
The question is: at the end of all this, will Trump still be a billionaire?
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