New York Attorney General Letitia James has been told there are three ways to raise $454 million if former President Donald Trump does not post bail to cover the civil fraud judgment by Monday. There is.
If Trump’s appeal Monday fails to reduce or block James’ bail, she will have the power to go after the former president’s cash and real estate holdings. James: “We’re ready to make sure New Yorkers get their judgments paid.” Said ABC News in February.
To thwart James’ tactics, Trump must post something like this: liquid Trump’s lawyers say that 30 surety companies have told Trump that they will not accept real estate assets as collateral, even though bonds (cash and securities) covering the entire amount of the judgment have been issued to suspend enforcement of the judgment. revealed on Monday.
President Trump claims the legal action against him amounts to election interference. “Judge Engoron is actually asking me to pay him hundreds of millions of dollars for the right to appeal his ridiculous decisions,” President Trump posted on Truth Social on Tuesday. “In other words, he is trying to strip me of my right to appeal, even though I have already won in the Appellate Division, and yet he refuses to accept the decisions they have already made.”
Nevertheless, James could be in a position to recover the sum in three ways. USA Today report:
- Setting a lien on real estate
- Collection of rent from real estate
- Collecting funds from President Trump’s New York bank account
“There’s a lot that can be done here in New York,” said Mitchell Epner, a longtime New York litigator. USA Today. “This is not just about real estate.”
Mr. Epner said Mr. James would likely target Mr. Trump’s cash in his New York bank account first, his non-real estate property second, and his real estate third. “If you have bank accounts in New York and you already know their whereabouts, they can essentially be frozen instantly, and the turnover of funds in bank accounts is measured in days to weeks. Deaf,” Epner said.
Regarding the property, Nager said the ruling would create a lien on Trump’s Manhattan property because it is located in a New York county where James won in court. “For example, if the Trump Organization, one of the Trump-related entities subject to the ruling, owns real estate in Manhattan and a tenant is paying rent, they could have their rent payments redirected.” Stated. USA Today report.
Mr. James could then use the ruling to target Mr. Trump’s assets in other states through a process called “domestication.” “Courts in the other 49 states and the District of Columbia do not have discretion over whether to make New York’s decision permanent in their state, because the Constitution has something called the Full Faith and Credit Clause. “This law requires each state to have full faith and confidence in the judgment of other states,” Epner said.
If James is successful in foreclosing on the property, James may sell the property at auction for below market value. “The problem is that the property could be sold, so he might be able to recover a money judgment for the value of the property, but that’s not what he wants. We really don’t want it to be demolished,” the director said. said Stewart Sterk of the Center for Real Estate Law and Policy at Cardozo School of Law. USA Today.
Constitutional law scholar Jonathan Turley believes President Trump’s predicament is a type of “collective justice” that could eventually reach the Supreme Court.
His position is that he has to come up with $500 million just to basically appeal, to have another judge look at what I did to you. It’s like a judge saying, “I’m going to take your house away, but you can appeal my decision.” To do that, I have to sell my house. ”…[M]Everyone sees this as a type of mob justice.
And this could exceed New York’s system.They are [Trump’s team] This can be appealed to the Supreme Court. In some cases, the Supreme Court intervenes in state litigation for things like punitive damages, and the damages can be so high as to veto the legal process. In my opinion, this falls into the extreme category. It’s horrifying.
“It shocks my conscience that I have to spend this kind of money just to have someone see what I believe in, and I believe this is an overreach by this judge.” concluded Mr Turley.
Wendell Husebo is a political reporter for Breitbart News and a former Republican war room analyst.he is the author of politics of slave morality.Follow Wendell “X” @WendellHusebø or society of truth @WendellHusebo.
