If Trump doesn’t raise nearly half a billion dollars by Monday, New York Attorney General Letitia James can start the process of seizing his bank accounts and properties.
Here is how CNN’s Erin Burnett Outfront discussed what could happen next:
BURNETT: All right. So, Ryan, quickly, it gets Stephanie in here, what happens then if he can’t, he loses in court. It can’t sell a building by next Monday, which he can’t.
Then what?
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GOODMAN: Then, Letitia James seizes his property, puts liens on all of his assets, bank accounts. And as Erik said, that doesn’t — it’s not restricted to New York. So she probably at this point understands where he has different assets, in Florida, at Mar-a-Lago and elsewhere.
BURNETT: And what does that mean, he can’t go in them or people can’t go. What does that mean?
GOODMAN: Does mean that he would not be able to be fought out in some part in the courts. But for that period of time, its really becomes unusable. And how does he get any additional business going when these are under foreclose are being seized by the courts.
BURNETT: So, Stephanie, what does this actually mean to him? I mean, in the context of he’s now publicly admitting that 30 insurance companies refused backing this bond.
STEPHANIE GRISHAM, FORMER TRUMP WHITE HOUSE PRESS SECRETARY: Yeah. The fact that this is now being covered by the media, this is going to be very, very hard on his ego and not just Donald Trump, but the entire family. This is going to — this is going to hurt them. Its going to hurt their egos and I’m sure soon, it’ll be tonight, maybe tomorrow, we’re going to hear about the left-wing Democrats going after him, et cetera, et cetera, et cetera.
You know, listening to you guys talk about his properties, though, I think if it were to happen, 40 Wall Street is probably the one that he would — I mean, he would hate it. But I think if she tried to seize Mar-a-Lago or Bedminster or Trump Tower even — I mean, those are his babies. You’ve got the Sterling golf course in Virginia.
Video:
Trumpâs nightmare scenario could begin Monday: âLetitia James seizes his property, puts liens on all of his assets, bank accounts.â (Video: CNN) pic.twitter.com/GLar8gVU7M
â Mike Sington (@MikeSington) March 19, 2024
Unless Trump can come up with roughly $500 million by Monday, even though he has been turned down by 30 bonding companies, the state of New York is going to begin the process of seizing his assets, and that could include his golf courses and Florida properties like Mar-a-Lago.
Most of the properties that Trump claims to own, he only owns pieces of.
Attorney General James is well versed in Trump’s assets and the AG’s office likely has a list of assets that they will target in court if Trump doesn’t pay up.
The looming New York deadline is likely one of the reasons that Trump filed a distraction lawsuit against George Stephanopoulos and ABC News.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelorâs Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association