Trump is 'out of avenues': Ex-prosecutor predicts Letitia James will soon seize property
Attorney General Letitia James could soon begin seizing former President Donald Trump's New York property if, as a recent court filing indicates, he can't pay the more-than $450 million judgment in his civil fraud trial, a former federal prosecutor said Thursday.
Former U.S. Attorney Joyce Vance made this argument on MSNBC Thursday, just a day after Trump, who has filed his notice to appeal Judge Arthur Engoron's ruling, tried and failed to negotiate down the bond he must pay in the interim.
"Trump in essence was trying to negotiate with the judge, saying I will give you $100 million, but I won't give you $450 million, with interest accumulating every day," Vance said. "Of course, that doesn't work."
The judge ordered Trump to hand over the full $450 million, which Trump admitted in Wednesday's ruling he cannot raise without selling off property.
Vance noted that Trump can continue to appeal without filing the bond, but that opens a door for a very determined James.
"While he is appealing, New York's attorney general is free to go ahead and begin to execute the judgment she's received against him," Vance said. "She may, for instance, try to go after some of his real property."
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Trump's New York properties include the gilded Trump Tower and a skyscraper at 40 Wall St. that James has mentioned by name.
Anchor José Díaz-Balart asked what legal avenues are left to Trump, and Vance replied not many.
Trump, having been found liable for defrauding investors by exaggerating the value of his property to secure loans and insurance, must show he can pay the judgment to prevent the New York attorney general's office from collecting the judgment any way they can.
"I think he has run out of avenues here," Vance said. "There's very little that Trump can do to continue to maneuver."