Will Trump's Assets Be Seized?

The New York Attorney General may start collecting former president #Trump’s assets if he fails to post a bond by next Monday.

Trump was hit with a penalty that came to around $454 million after interest and would have had to pay a bond slightly higher than that amount to stave off the state from seizing assets, such as his many real estate holdings, to cover the penalty. An appeals court later ruled that he could instead pay a lower bond of $175 million.

Trump posted $175 million bond on April 1 to prevent James from seizing his assets while he attempts to appeal the civil fraud ruling against him.

New York Judge Arthur Engoron previously found Trump, his adult sons Donald Jr. and Eric, and The Trump Organization liable for a scheme in which the value of Trump’s net worth and assets were unlawfully inflated to obtain more favorable business deals.

Trump, the presumptive 2024 #GOP presidential nominee, has maintained his innocence in the matter.

The bond was then rejected by the court’s filing system shortly after it was posted due to missing paperwork, including a “current financial statement.” James, whose office led the fraud case against Trump, later raised questions about the “sufficiency” of the bond and noted that the surety backing it, Knight Specialty Insurance Company (KSIC), is not admitted in New York, meaning it’s ineligible to obtain a certificate of qualification from the Department of Financial Services. KSIC has refiled its paperwork as a result in an effort to get the process moving again.

New York A.G. Letitia James cited a statute “which indicates that within ten days (that is—by April 15, as April 14 is a Sunday) either Trump or the KNIC must file a motion in court to ‘justify the surety.’ If not, then pursuant to statute, the bond shall ‘be without effect’.”

If that happens, the state of New York can start seizing Trump’s assets immediately.

On Episode 27 of “Strange Bedfellows” we spoke with Tyler Nixon, longtime ally and personal attorney for Roger Stone who knows a thing or two about #lawfare against both his client and Mr. Trump. You won’t want to miss what he has to say about this case!

Watch the premiere tonight at 7 PM Eastern.

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