Despite filing a court notice as this week got underway of intentions to appeal, a critical clock is still ticking after some $355 million in penalties — plus interest — were imposed by New York Judge Arthur Engoron following a fraud case from state Attorney General Letitia James. James’ team alleged a years-long pattern of Donald Trump and figures close to him financially benefiting from the misrepresentation of various assets’ value.
Following an official filing of Engoron’s decision, a 30-day period started in which Trump’s team is obliged if they want a delay to either produce a bond for the full amount that’s owed or secure a judge’s decision allowing a smaller bond or a complete hold on penalties. “If that doesn’t happen within the 30-day period, James’ office will be able to start seizing his assets,” NBC News explained Monday. The month-long period began with James’ targets, including Trump, officially being served.
And NBC reported that there was no mention in what the Trump team filed of any intentions for handling the bond obligations, which mirror requirements that Trump was facing after nearly $90 million in penalties following successful defamation and sexual assault claims in New York courts from writer E. Jean Carroll.
James already stated specifically that she is prepared to pursue a seizure of Trump’s assets. “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,” the top law enforcement official recently told ABC News. That could involve changes to the ownership at cornerstone Trump properties in New York, where Trump’s business operations have already faced extensive supervision from a court-appointed monitor whose work has coincided with James’ investigation and case.
The underlying penalties on Trump include more than $126 million stemming from profits on the sale of what had been the infamous Trump hotel in Washington, D.C., which operated during Trump’s presidency. Profits from the sale just last year of the Trump Organization’s golf operation at a New York City property drove an additional tens of millions of dollars in costs.
