New York Attorney General Pursues Trump’s Westchester Properties as Deadline Approaches
ICARO Media Group
In a recent development, New York Attorney General Letitia James has taken steps to potentially seize former President Donald Trump's Westchester golf course and Seven Springs estate. This comes after a $464 million judgment was issued against Trump last month for civil fraud.
Documents reveal that James' team registered judgments for the civil fraud lawsuit in Westchester County on March 6, indicating that Trump's properties in the area may be at risk. The properties in question include Trump National Golf Club Westchester and the sprawling 212-acre Seven Springs estate.
James has given Trump a deadline of March 25 to post bond on the judgment. However, Trump's attorneys have argued that it is not feasible for him to pay the required amount, which could potentially reach $557 million due to interest and appeals costs. They claim that Trump lacks the cash flow to produce such funds and that his real estate cannot be accepted as collateral by 30 insurance companies.
In response, James's team has rejected these arguments and suggested that Trump could secure a series of smaller loans to fulfill the bond requirement. Trump's legal team condemned the demand for a full bond in a letter to New York's Appellate Division, calling it unreasonable, unjust, and potentially unconstitutional.
Despite the registration of the judgment, it is not certain whether James will ultimately move to confiscate Trump's properties in Westchester. However, this step provides her with the option to pursue further actions such as levying a lien, taking court actions, or initiating foreclosure proceedings.
It's important to note that James has not entered judgments in Florida or Illinois, where other Trump properties are located. Trump, along with his children Donald Trump Jr. and Eric Trump, have vehemently denied allegations of manipulating net worth for business and tax benefits. Prosecutors accused the Trumps of inflating asset valuations by billions of dollars to secure favorable loans from banks.
As the March 25 deadline looms, Trump has been vocal in his criticism of the verdict and the court proceedings. He has expressed concerns that selling assets to comply with the judgment could permanently deplete his financial resources, should he win the appeal.
In addition, Judge Arthur Engoron, who presided over the civil fraud case, granted the monitor overseeing the Trump Organization expanded oversight powers over Trump's real estate empire.
The Post reached out to both the Trump Organization and the New York Attorney General's office for comment, but no response has been received as of now.