Former President Donald Trump is facing a deadline to secure a bond for a multimillion-dollar civil fraud judgment against him. The New York Attorney General’s office is working diligently to ensure the judgment is upheld as Trump appeals the ruling made by Judge Arthur Engoron back in February.
Trump personally owes over $454 million, which increases to $463.9 million when including the debts of his sons, Eric and Donald Jr., and the Trump Organization. If Trump fails to secure the necessary bonds, his assets, including buildings, houses, cars, helicopters, and his plane, could be seized by the Attorney General’s office.
Legal experts suggest that seizing Trump’s bank accounts would be the most straightforward process, as state prosecutors can obtain a court order to enforce the judgment and collect the funds. Seizing properties, on the other hand, would be a more complex and time-consuming endeavor.
The Attorney General’s office has already taken steps to seize Trump’s properties in New York, filing judgments in Westchester County for his golf course in Briarcliff Manor and his private estate known as Seven Springs. The process could extend to other states where Trump has assets, such as Mar-a-Lago in Florida.
If Trump fails to secure the bond or win his appeal, bankruptcy remains an option, although it is not a route he wants to take. Selling off smaller properties may be a last resort to satisfy the debt, but the situation remains dire for the former president.
As the deadline approaches, experts question why a grace period was given, considering the substantial amount Trump owes. The legal battle continues, with Trump’s financial future hanging in the balance.