(TheRedAlertNews.com) – The leftist judicial persecution of Donald Trump is growing increasingly severe as New York’s Democrat attorney general seems set to seize two of the former president’s top properties as he has been unable to post a bond on the $464 million civil fraud judgment issued against him last month.
New York AG Letitia James is potentially targeting Trump’s Westchester golf course and the Seven Springs estate, The New York Post informs.
This move comes shortly after Judge Arthur Engoron delivered his verdict against Trump on February 16, with James’ office proceeding to file the judgments in Westchester County.
This action hints at the possibility that Trump’s properties in that area could be at risk, according to official documents.
The filing was made on March 6, without specifying which of Trump’s assets were being targeted or the reasons for this action.
Trump’s holdings in the area include the Trump National Golf Club Westchester and the extensive 212-acre Seven Springs estate.
James has set a deadline of March 25 for Trump to arrange the bond for the judgment.
Given that the judgment was issued in New York City, there is no necessity for James to file judgments there, a region that hosts Trump Tower, the Trump Building on 40 Wall Street, among other assets.
On Monday, Trump’s legal team argued in court documents that it is not realistic “under the circumstances presented” to come up with the funds required, pointing out that a bond would necessitate 120% of the fine — translating to a possible $557 million due to interest and costs related to appeals.
His attorneys described such a financial demand as “unattainable.” They said around 30 insurance companies had refused to accept his real estate as collateral.
They also mentioned Trump’s lack of sufficient cash flow to meet this financial requirement.
In response, James’s office has dismissed these claims in their legal filings and proposed that Trump could secure a sequence of smaller loans.
“Perhaps worst of all, the Attorney General argues that Defendants should be forced to dispose of iconic, multi-billion-dollar real-estate holdings in a ‘fire sale,’” rump attorney Clifford Robert told New York’s Appellate Division on Thursday.
“By demanding an undertaking in the full amount of the judgment in order to appeal, the Attorney General and Supreme Court have sought to impose a patently unreasonable, unjust, and unconstitutional (under both the Federal and New York State Constitutions) bond condition,” stated his legal representation.
This month, Trump managed to pay a $91.6 million appeal bond to contest the verdict in one of the E. Jean Carroll defamation lawsuits.
Trump has expressed his outrage over the verdict following an approximately 11-week trial that found him and his sons, Donald Trump Jr. and Eric Trump, guilty of manipulating his net worth for business and tax advantages.
The prosecution charged that the Trumps exaggerated the value of their assets by up to $3.6 billion a year to secure more favorable terms from banks.
“If I sold assets, and then won the Appeal, the assets would be forever gone. Also, putting up money before an Appeal is VERY EXPENSIVE. When I win the Appeal, all of that money is gone, and I would have done nothing wrong,” Trump stated on Truth Social on Thursday.
“The Crooked Judge, who has already been overturned 4 times on this case (a record!), fully understands this. He gave us a demand which he knows is impossible to do,” he added.
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