Trump Tower Could Be Seized by Letitia James as Trump May Not Pay Bond: Report
New York Attorney General Letitia James may have her eye on one of former President Donald Trump’s most prized assets, and he might be willing to let her take it — at least for now.
The New York Post reported on Wednesday that Trump is weighing a number of options as Monday’s deadline approaches for him to post a $464 million bond in his civil fraud case, which includes $454 million for himself and $10 million for his sons Donald Jr. and Eric.
James argued and a judge agreed that Trump had inflated the value of his assets in a case that has led many to believe the justice system has been weaponized against the former president.
Trump has thus far failed to find a lender to back the nearly half-billion-dollar bond, which has to be paid while he appeals the ruling of Judge Arthur Engoron.
As the Post noted, Trump could go to friends for the money, file for bankruptcy or simply ignore the deadline and allow James and New York to seize many of his assets, including Trump Tower.
“It’s an option Trump appears to have considered,” the Post reported, “partly because he believes the chances are good that he could recover the assets on appeal, even if he is forced to take his case to the US Supreme Court, according to friends.”
Unnamed sources close to Trump told the Post that he does not wish to file for bankruptcy and that he is not the kind of person to “pass the hat” and ask friends for money.
“He has plenty of wealthy friends who would help him if asked, but he’s not asking, as far as I’m aware,” one source said.
The former president has also hinted that he could invoke the Eight Amendment, which protects against “excessive bail” and “excessive fines.”
Some have pointed to Trump’s trouble securing the $464 million bond as proof that he has inflated his wealth. But this week, Trump found an unlikely ally in billionaire Mark Cuban.
After Democratic Rep. Ted Lieu of California stated on X that Trump was not wealthy enough to pay the bond and had lied about being a billionaire, Cuban came to Trump’s defense.
“Ted, you know I’m no supporter of Trump,” Cuban wrote. “But you are wrong on this topic Ted. Net worth is completely different than cash in the bank.”
Ted, you know I’m no supporter of Trump. That’s for damn sure.
How anyone can vote for someone who has so many of his executive employees turn on him, and, say he is incompetent is beyond me.
But you are wrong on this topic Ted.
Net worth is completely different than… https://t.co/WG6cY1t5qq
— Mark Cuban (@mcuban) March 19, 2024
One insider who spoke to the Post said that no matter what Trump decides, the state of New York will ultimately pay a bigger price for James going after him.
“There will be severe consequences. … People will stop doing business in New York,” the source said. “No one will take the risk, and lenders are now spooked.”
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