Trump Tower Could Be Seized by Letitia James as Trump May Not Pay Bond: Report

New York Attorney General Letitia James may have her eye on one of former President Donald Trump’s most prized assets, and he might be willing to let her take it — at least for now.

The New York Post reported on Wednesday that Trump is weighing a number of options as Monday’s deadline approaches for him to post a $464 million bond in his civil fraud case, which includes $454 million for himself and $10 million for his sons Donald Jr. and Eric.

James argued and a judge agreed that Trump had inflated the value of his assets in a case that has led many to believe the justice system has been weaponized against the former president.

Trump has thus far failed to find a lender to back the nearly half-billion-dollar bond, which has to be paid while he appeals the ruling of Judge Arthur Engoron.

As the Post noted, Trump could go to friends for the money, file for bankruptcy or simply ignore the deadline and allow James and New York to seize many of his assets, including Trump Tower.

Trending:

Hillary Clinton Jumps Into Trump ‘Bloodbath’ Frenzy with a Question, Doesn’t Want to Hear the Answers

“It’s an option Trump appears to have considered,” the Post reported, “partly because he believes the chances are good that he could recover the assets on appeal, even if he is forced to take his case to the US Supreme Court, according to friends.”

Unnamed sources close to Trump told the Post that he does not wish to file for bankruptcy and that he is not the kind of person to “pass the hat” and ask friends for money.

“He has plenty of wealthy friends who would help him if asked, but he’s not asking, as far as I’m aware,” one source said.

The former president has also hinted that he could invoke the Eight Amendment, which protects against “excessive bail” and “excessive fines.”

Is this a political prosecution?

Some have pointed to Trump’s trouble securing the $464 million bond as proof that he has inflated his wealth. But this week, Trump found an unlikely ally in billionaire Mark Cuban.

After Democratic Rep. Ted Lieu of California stated on X that Trump was not wealthy enough to pay the bond and had lied about being a billionaire, Cuban came to Trump’s defense.

“Ted, you know I’m no supporter of Trump,” Cuban wrote. “But you are wrong on this topic Ted. Net worth is completely different than cash in the bank.”

Related:

Letitia James Urges Appeals Court to Ignore Trump’s Request to Not Post or Lower $464M Bond

One insider who spoke to the Post said that no matter what Trump decides, the state of New York will ultimately pay a bigger price for James going after him.

“There will be severe consequences. … People will stop doing business in New York,” the source said. “No one will take the risk, and lenders are now spooked.”


An Important Message from Our Staff:

 

In just a few months, the world is going to change forever. The 2024 election is the single most important election of our lifetime. 

 

We here at The Western Journal are committed to covering it in a way the establishment media simply will not: We will tell the truth, and they will lie.

 

But Big Tech and the elites don’t want the truth out. That’s why they have cut us off from 90% of advertisers. Imagine if someone cut your monthly income by 90%. That’s what they’ve done to people like us. 

 

As a staff, we are asking you to join us to fight this once-in-a-lifetime fight. Without you not only will The Western Journal fail, but America will fail also. As Benjamin Franklin said, “We must all hang together, or assuredly we shall all hang separately.”

 

Will you support The Western Journal today and become a member

 

A Western Journal Membership costs less than one coffee and breakfast sandwich each month, and it gets you access to ALL of our content — news, commentary, and premium articles. You’ll experience a radically reduced number of ads, and most importantly you will be vitally supporting the fight for America’s soul in 2024.

 

This is the time. America will live or die based on what happens this year. Please join us to get the real truth out and to fight the elites, Big Tech, and the people who want America to fail. Together, we really can save the country.

 

Thank you for your support!

 

P.S. Please stand with us!



Source link