'I Look At 40 Wall St. Each And Every Day' — New York Attorney General Letitia James Says She'll Seize Trump's Real Estate To Collect The $355 Million Fine Plus Interest Owed For The 'Massive Amount Of Fraud' Committed
New York Attorney General Letitia James has taken a firm stance in the civil fraud case against former President Donald Trump and his company, signaling a readiness to seize Trump’s properties should he fail to pay a nearly $355 million fine.
This development follows Judge Arthur Engoron’s ruling, which found Trump and his co-defendants liable for fraudulently inflating the value of assets, making Trump personally responsible for $354.9 million of the amount, plus interest. The total fine, with interest, reached $453.5 million as of Friday, with the amount accruing at a 9% annual rate.
In an interview with ABC News, James emphasized the severity of the fraud, saying, “Financial frauds are not victimless crimes. Trump engaged in this massive amount of fraud. It wasn’t just a simple mistake, a slight oversight — the variations are wildly exaggerated, and the extent of the fraud was staggering.”
She highlighted the discrepancy in treatment between average New Yorkers and high-profile figures, arguing that the same legal standards should apply to former presidents.
"We are prepared to make sure that the judgment is paid to New Yorkers, and, yes, I look at 40 Wall St. each and every day," James said during the interview.
According to Forbes, Trump's net worth was $2.6 billion in September 2023. However, his ability to pay the sum has been called into question, with his cash and liquid assets estimated at $426 million — insufficient to cover both the fraud fine and an additional $83.3 million owed in a separate defamation case. The ruling also restricts Trump from obtaining loans from New York-registered financial institutions for three years, potentially complicating his payment options. There is speculation that Trump might seek support from wealthy financiers, raising concerns about potential obligations to these individuals.
Elena Cardone, married to real estate mogul Grant Cardone, launched a GoFundMe for Trump that has amassed over $500,000. The campaign drew criticism from several social media users, who argued it violated GoFundMe’s policies and supported their claims with screenshots of the platform’s terms of service. Addressing these concerns, GoFundMe Director of Public Affairs Jalen Drummond told Newsweek that the fundraiser complies with its terms of service.
James filed the lawsuit in 2022, accusing Trump, his sons and his company of over 200 instances of asset value misrepresentation to secure favorable business deals and inflate Trump’s net worth. Trump and his co-defendants have denied any wrongdoing, attributing discrepancies to the subjective nature of real estate valuations.
Engoron’s ruling was clear, finding overwhelming evidence of intentional fraud and imposing additional penalties, including barring Trump and his sons from running any New York companies for specified periods and requiring oversight of The Trump Organization’s activities by an independent monitor and director of compliance.
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Photo: State Attorney General Letitia James seen during public safety announcement to prevent gun violence at City Hall in New York on July 31, 2023
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This article 'I Look At 40 Wall St. Each And Every Day' — New York Attorney General Letitia James Says She'll Seize Trump's Real Estate To Collect The $355 Million Fine Plus Interest Owed For The 'Massive Amount Of Fraud' Committed originally appeared on Benzinga.com
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