Former President Donald Trump may let New York Attorney General Letitia James seize his iconic Trump Tower and other assets to satisfy the $454 million civil fraud judgment against him.
The New York Post, citing unnamed sources, reports Trump believes he will overturn the case on appeal and be able to take back those assets.With most of his net worth tied up in real estate, Trump reportedly does not have enough cash in the bank to post the nearly half billion dollar bond.
“Even if there is a taking, it doesn’t mean he can’t take it back later,” a source close to Trump told the Post. “A bond of this size would be an abuse of the law, contradict bedrock principles of our Republic, and fundamentally undermine the rule of law in New York,” Cheung’s statement continued. “President Trump will continue fighting and beating all of these Crooked Joe Biden-directed hoaxes and Will Make America Great Again.”
While the friends cited by the Post say Trump unequivocally does not want to ask wealthy friends for help, other reports say he is looking for backers with deep pockets for help. “There will be severe consequences — not an insurrection,” the insider says. “People will stop doing business in New York. No one will take the risk, and lenders are now spooked. The real estate market is already a disaster, with office buildings worth a fraction of what they were once worth, and there are mestastasizing effects when a large part of the city’s budget is from real estate.”
“I think the valuation is something in the hundreds of millions, and I think there could be a buyer for something like that,” she says.
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