New York Attorney General Letitia James has threatened to seize the commercial real estate assets of former President Donald Trump if he fails to pay the fines levied against him in his civil fraud trial.
James, a Democrat, told ABC News she is prepared to take control of Trump’s assets.
“If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” James said.
Trump was fined $354.8 million plus approximately $100 million in pre-judgment interest on Friday after Judge Arthur Engoron ruled the real estate mogul-turned-politician overinflated the value of his properties when seeking bank loans.
“Financial frauds are not victimless crimes,” James continued. “He 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. If average New Yorkers went into a bank and submitted false documents, the government would throw the book at them, and the same should be true for former presidents.”
James also dismissed Trump’s warning that his case would cause other businesses to leave New York.
“Last I checked tourism is up. Wall Street is doing just fine,” James said.
James’ comment echoes remarks made by New York Gov. Kathy Hochul, who insisted the Trump case was an anomaly and the state was not seeking to prosecute “law-abiding and rule-following” business owners.
