Attorneys in the New York attorney general's office have urged a state appeals court to disregard Donald Trump's claims that he cannot raise a bond to cover his $454m civil fraud judgment. Letitia James, the attorney general, could initiate action to seize Trump's assets as soon as Monday, coinciding with the former president's deadline to secure the bond.
Trump's lawyers have argued that posting a bond for the full amount is 'a practical impossibility' after 30 surety companies declined. However, James's office expressed skepticism over the timing and nature of this claim in a letter sent by senior assistant solicitor general Dennis Fan.
In response, Trump's election campaign called for donations from one million supporters, warning he could lose his New York properties. 'Keep your filthy hands off of Trump Tower!' read a message to supporters. The New York Post reported that Trump might let Monday's deadline pass, leaving James to pursue assets including his flagship Trump Tower on Fifth Avenue.
Trump maintains he is worth several billion dollars and testified last year to having about $400m in cash. The civil fraud judgment, issued by Judge Arthur Engoron, found that Trump and his company inflated his wealth on financial statements to deceive banks and insurers. The penalty includes $355m plus interest, accruing an additional $112,000 daily.
James has previously stated she would not hesitate to seize Trump's buildings, including his 40 Wall Street skyscraper. She has not specifically mentioned Trump Tower. The judgment adds to Trump's financial troubles, including an $83.3m defamation award to writer E Jean Carroll.
