New York Attorney General Letitia James (D) is prepared to go scorched earth if Donald Trump can't, or won't, pay New York state the $354.8 million fine plus roughly $100 million in interest in the civil fraud case brought by her office.
In an interview with ABC News, James said she will seize Trump's assets, if necessary – including his most iconic skyscrapers.
“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 told ABC News' Aaron Katersky. (RELATED: Trump Must Pay Nearly Half A Billion Dollars Before Appealing New York Ruling)
Trump has denied all accusations of wrongdoing and said he will appeal the decision:
Saying that she was “very confident” with the strength of her case on appeal, James reiterated that her office would not hesitate to seize Trump's assets — mentioning Trump's 40 Wall Street skyscraper by name — if the former president is unable to find the cash to cover the court-ordered disgorgement.
“We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street each and every day,” James said of the standard court process for collecting judgments in civil cases.
James directly countered Trump's allegation that the case lacked any victims, instead describing her case as vital to ensuring financial markets treat New Yorkers fairly.
“Financial frauds are not victimless crimes. He engaged in this massive amount of fraud. It wasn't just a simple mistake, a slight oversight, the variations are wildly exaggerated, and the extent of the fraud was staggering,” James contended. “If average New Yorkers went into a bank and submitted false documents, the government would throw the book at them, and the same should be true for former presidents.”
Judge Arthur Engoron fined Trump $354 million and his adult sons $4 million each for defrauding lenders by inflating Trump's net worth to receive more favorable loans.
Every day, the former president must pay an extra $87,502 in post-judgment interest.
During the interview, James also dismissed Trump's claims that the ruling would lead to a mass exodus of business from New York. (RELATED: ‘Shark Tank' Host Vows To ‘Never Invest' In New York Following Trump Ruling)
“Last I checked tourism is up. Wall Street is doing just fine,” she claimed.
Only time will reveal the truth.
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