TODAYS LATEST NEWS Move: Ex-Lawyer REVEALS Bid to Claim TRUMP Holdings

In a recent development that has sent shockwaves through the political and financial spheres, New York Attorney General Letitia James has initiated the first steps towards seizing assets belonging to former President Donald Trump. This action follows a civil trial verdict that found Mr. Trump guilty of defrauding investors, resulting in a staggering $464 million judgment against him.

The legal proceedings, which have been unfolding over several months, culminated in a decisive moment when Ms. James’s office registered the judgment from the Manhattan civil fraud trial in Westchester County. This county is notably home to Mr. Trump’s Seven Springs estate and the Trump National Golf Club Westchester. The filings, dated March 7th, are a clear indication that the Attorney General is prepared to commence the asset seizure process should Mr. Trump fail to secure a bond to stay the enforcement of the ruling.

The situation has reached a critical juncture as Mr. Trump’s legal team grapples with the “insurmountable difficulties” of securing a bond that would require collateral amounting to nearly $560 million, which is 120% of the judgment sum. The attorneys have appealed to the state court for leniency, either to accept a smaller bond or to waive the requirement altogether, citing the practical impossibility of meeting such a demand.

The gravity of the situation is underscored by the fact that failure to secure the bond could result in the forced sale of Mr. Trump’s iconic real estate holdings, potentially at significantly undervalued prices, to satisfy the judgment. This scenario, which Mr. Trump’s attorney Clifford Robert has described as “unjust, impractical, and unconstitutional,” would have far-reaching implications not only for Mr. Trump but also for the broader real estate market.

As the deadline looms, the case has garnered intense public interest, with many awaiting the outcome of the appeals court’s decision. The potential seizure of assets by the Attorney General represents a bold move in the ongoing saga of Mr. Trump’s legal challenges and has sparked a debate on the limits of legal enforcement against a former head of state.