If former President Trump does not pay the almost $355 million judgment imposed on him in a civil business fraud trial last week, New York Attorney General Letitia James (D) is ready to confiscate his assets, she told ABC News on Tuesday.
"We will pursue judgment enforcement procedures in court and we will urge the judge to take his assets if he does not have the cash to pay up the judgment," she told ABC News.
With the $355 million decision and an extra $100 million in prejudgment interest, Trump and his enterprises have been hit with the biggest financial punishment to date in all of his legal battles. Legal experts have conjectured that Trump could have to liquidate a portion of his real estate enterprise in order to pay the hefty fine.
Trump's legal team has declared that they would file an appeal, charging Judge Arthur Engoron with judicial misconduct and calling the case politically motivated. Alina Habba, the lawyer for Trump, described the decision as a "manifest injustice" and the end of a "multi-year, politically motivated witch hunt that was intended to 'tear down Donald Trump."
James expressed her confidence in winning the appeal and specifically mentioned Trump's 40 Wall Street skyscraper as one potential target.
"We are ready to ensure that New Yorkers get their just compensation, and yes, I do often visit 40 Wall Street," she said.
It was determined that Trump and his firm were guilty of business fraud, namely of inflating the worth of assets to get advantageous loan terms and insurance rates. The ruling also imposes a three-year restriction on Trump's ability to operate in New York real estate.
"We will pursue judgment enforcement procedures in court and we will urge the judge to take his assets if he does not have the cash to pay up the judgment," she told ABC News.
With the $355 million decision and an extra $100 million in prejudgment interest, Trump and his enterprises have been hit with the biggest financial punishment to date in all of his legal battles. Legal experts have conjectured that Trump could have to liquidate a portion of his real estate enterprise in order to pay the hefty fine.
Trump's legal team has declared that they would file an appeal, charging Judge Arthur Engoron with judicial misconduct and calling the case politically motivated. Alina Habba, the lawyer for Trump, described the decision as a "manifest injustice" and the end of a "multi-year, politically motivated witch hunt that was intended to 'tear down Donald Trump."
James expressed her confidence in winning the appeal and specifically mentioned Trump's 40 Wall Street skyscraper as one potential target.
"We are ready to ensure that New Yorkers get their just compensation, and yes, I do often visit 40 Wall Street," she said.
It was determined that Trump and his firm were guilty of business fraud, namely of inflating the worth of assets to get advantageous loan terms and insurance rates. The ruling also imposes a three-year restriction on Trump's ability to operate in New York real estate.
