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New York AG Targets Trump’s Westchester Properties Amid Bond Struggle
New York Attorney General Letitia James is eyeing Donald Trump’s Westchester golf course and Seven Springs estate as the former president grapples with meeting the bond requirements on his $464 million civil fraud judgment from last month.
Documents reveal that shortly after Judge Arthur Engoron’s verdict on February 16, James’ team moved to register the judgments in Westchester County, indicating potential jeopardy for Trump’s properties in the area, including Trump National Golf Club Westchester and the sprawling Seven Springs estate spanning 212 acres, NY Post reported.
Trump’s legal team argued in a court filing on Monday that meeting the bond requirement was unfeasible given the hefty sum, estimating it at potentially $557 million due to accrued interest and appeals costs. They claimed that Trump lacked the cash flow and faced difficulties in offering real estate as collateral, with numerous insurance companies reportedly unwilling to accept it.
James’ team countered these arguments, suggesting Trump could seek smaller loans and dismissing claims of unattainability. Trump’s attorneys condemned the bond condition as unreasonable and unconstitutional.
Trump swiftly appealed the decision last month, seeking to reduce the bond amount to around $100 million, but was denied by an appeals judge. With a March 25 deadline looming, James has warned of asset seizures if Trump fails to comply.
While registering the judgment in Westchester doesn’t guarantee immediate confiscation, it provides James with the option to pursue such actions, including levying liens or initiating foreclosure proceedings.
However, James has not pursued similar actions in other states where Trump holds properties, such as Florida or Illinois.
The case stems from allegations that Trump and his children manipulated asset valuations to secure favorable loans, inflating values by billions annually. Trump has vehemently denied any wrongdoing, emphasizing loan repayments and expressing frustration over the financial burden of the bond requirement.
In response to the developments, Judge Engoron expanded the oversight authority of the monitor observing the Trump Organization’s real estate dealings, further intensifying scrutiny over the former president’s business operations.
