Politics

NY AG James Threatens to Seize Trump Assets Over $354M Fine

Feb 21, 2024 1 min read

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Following a civil fraud ruling, New York Attorney General Letitia James has indicated her readiness to seize assets from former President Donald Trump if he is unable to pay a $354 million fine. The fine was imposed after Manhattan Supreme Court Judge Arthur Engoron found Trump guilty of significantly inflating his net worth to obtain better loan conditions from banks. James has pointed to the potential of targeting Trump's properties, including the 40 Wall Street skyscraper, through court-enforced judgment mechanisms.

The fine and potential seizure of assets come on the heels of a trial and subsequent judgment which barred Trump from running his business in New York for a three-year period and held him and his organization liable for damages. In the face of Trump's defense that no victims were involved due to the banks being repaid, Attorney General James has labeled the fraud as "staggering" and emphasized that financial fraud is not a "victimless crime." She has expressed confidence in her case's strength on appeal and reiterated her commitment to ensuring that the imposed fine will be paid.

#fraud #corruption

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