Trump could learn Monday how NY wants to collect $457M owed in his civil fraud case

FILE - Former President Donald Trump holds up a copy of a story featuring New York Attorney General Letitia James while speaking during a news conference, Jan. 11, 2024, in New York. Trump could find out Monday, March 25, how New York state aims to collect over $457 million he owes in his civil business fraud case, even as he appeals the verdict that led to the gargantuan debt.

Seizing assets is a common legal option when someone doesn’t have the cash to pay a civil court penalty. In Trump’s case, potential targets could include such properties as his Trump Tower penthouse, aircraft, Wall Street office building or golf courses. “Finding buyers for assets of this magnitude is something that doesn’t happen overnight,” he said, noting that at any ordinary auction, “the chances that people are going to be able to bid up to the true value of the property is pretty slim.”last fall over the state's allegations that he, his company and top executives vastly puffed up his wealth on financial statements, conning bankers and insurers who did business with him.

Source: News Formal (newsformal.com)

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