Former President Donald Trump faces potential asset seizure if he is unable to secure an appeal bond for nearly a half-billion dollars in his fraud case.
Trump’s lawyers on Monday asked an appeals court to stay the judgment after he was unable to secure the bond despite “diligent efforts,” adding that they were rejected by about 30 bond companies. “If he cannot produce the bond in time, Mr. Trump faces the possibility of financial disaster and humiliation,” The New York Times reported, noting that the former president could have his properties seized by the New York attorney general’s office.
Trump on Monday complained that he may have to sell his properties at “fire sale” prices.
Former Trump White House communication director Stephanie Grisham told CNN that Trump could face losing his building at 40 Wall Street, his Bedminster golf resort, or even Trump Tower or Mar-a-Lago.
“He would hate it,” Grisham said, adding that “those are his babies.”
"You've got the Sterling golf course in Virginia. Any of the properties with golf courses, I think, would absolutely devastate him,” she said, adding that it would also be “very, very hard on his ego.”
New York University Law Prof. Ryan Goodman told CNN that Attorney General Letitia James can “put liens of all of his assets” and “bank accounts” if Trump doesn’t post bond.
“That is not restricted to New York. So, she probably at this point understands where he has different assets in Florida, Mar-a-Lago, and elsewhere,” he said. “Ot would be fought out in some part in the courts. But for that period of time, it really becomes unusable. And how does he get any additional business going when these are under foreclosure or are being seized by the courts?” he added.
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