Days after former President Donald Trump was ordered to pay $354 million in his New York civil fraud trial, Attorney General Letitia James is now threatening to seize Trump's assets if he is unable to pay up.
In an interview with ABC News, James was asked what would happen if Trump does not pay the fines handed down by Judge Arthur Engoron. In that case, she said the state could begin seizing his properties to get the money.
"If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets," James said.
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The fines stem from Trump allegedly overinflating the value of his assets in order to secure more favorable loan terms and lower insurance premiums. The ruling gave the former president 30 days to either secure a bond while the case is under appeal or pay the full amount owed.
However, for each day Trump doesn't fork over the cash, he is being charged about $87,000 in interest. Legal experts say if Trump loses on appeal, then he'll have to cover the approximately $100 million in prejudgment interest, as well as whatever is accrued in postjudgment interest.
Trump, the Republican front-runner in the 2024 presidential race, has repeatedly denounced the case as a political witch hunt intended to interfere with the November general election.
"Corrupt A.G. Tish James has been obsessed with 'Getting Trump' for years, and used Crooked New York State Judge Engoron to get an illegal, unAmerican judgment against me, my family, and my tremendous business," the former president said in a statement after the ruling. "This 'decision' is a Complete and Total SHAM. There were No Victims, No Damages, No Complaints."
Trump said he intends to appeal the ruling.
