NEW YORK, NEW YORK - JANUARY 11: Former U.S. President Donald Trump and his lawyers Christopher Kise and Alina Habba attend the closing arguments in the Trump Organization civil fraud trial at New York State Supreme Court on January 11, 2024 in New York City. Trump won't make his own closing arguments after his lawyers objected to Judge Arthur Engoron's insistence that Trump stay within the bounds of "relevant, material facts that are in evidence" of the case. Prosecutors allege that Trump and his two sons Donald Trump Jr. and Eric Trump conspired to inflate his net worth on financial statements provided to banks and insurers to secure loans. New York Attorney General Letitia James has sued seeking $370 million in damages. (Photo by Seth Wenig-Pool/Getty Images)
With a payment deadline of March 25 days away, former President Donald Trump has yet to come up with the $464 million bond he will need to pay. In the civil fraud case brought on by New York Attorney General Letitia James, Trump was found guilty of fraud, including wildly inflating the values of his properties including Mar-a-Lago and Trump Tower in order to obtain lower interest rates and better terms.
As part of the ruling, Judge Arthur Engoron ordered Trump to pay $464 million within a 30-day timeframe. To secure the money, Trump and his team reached out to 30 surety firms but were denied each time. Trump has stated he will appeal the case.
With only days left until March 25, James is preparing to seize Trump’s properties, including his New York two estates. Court documents show that James has already filed the necessary paperwork to seize two New York properties.
On Thursday, James filed documents on Trump’s Seven Springs, New York, property boasting 212 acres of woods and hills.
Trump’s family and legal team unsuccessfully tried to stall the process in the past. Trump’s lawyers have also asked his bond be reduced to $100 million.
James expressed confidence in the strength of her case on appeal and reiterated her office’s determination to collect the court-ordered fine from Trump. She specifically mentioned Trump’s 40 Wall Street skyscraper as a potential asset subject to seizure. James explained that her office is “prepared to make sure that the judgment is paid to New Yorkers,” and added, “And yes, I look at 40 Wall Street each and every day.”
James has also placed liens on Trump’s properties, including those owned by his eldest sons Don Jr. and Eric. If Trump attempts to sell his property in Westchester County, documents will show the $464 million lien on their value.
Trump called out Engoron and James on social media and in a fundraising memo. Trump claimed the seizure of his properties and half-billion dollar bond were acts of “communism.”
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