Will NY Seize Trump Tower? NY AG Letitia James Threatens to Seize Trump's Assets If He Fails to Pay $454 Million Penalty
New York AG Letitia James told ABC News she will seek to seize some of Donald Trump's assets if he cannot pay the $454 million civil fraud penalty. The interest on Trump's penalty accrues at a rate of $87,502 per day, bringing his total owed to over $454 million as of now. Trump could avoid seizure by posting an appeal bond for the full amount while appealing, as is standard in New York. It's unclear exactly what assets Trump has available, as most information on his finances comes from his own disclosures. Trump has said he has about $400 million in cash reserves, while his net worth is several billion dollars, according to his statements.
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00:00 It's Benzinga and here's what's on the block.
00:02 New York AG Letitia James told ABC News she will seek to seize some of Donald Trump's
00:06 assets if he can't pay the $454 million civil fraud penalty.
00:10 The interest on Trump's penalty accrues at a rate of $87,502 per day, bringing his
00:15 total owed to over $454 million as of now.
00:19 Trump could avoid seizure by posting an appeal bond for the full amount while appealing,
00:22 as is standard in New York.
00:24 It's unclear exactly what assets Trump has available as most information on his finances
00:28 comes from his own disclosures.
00:30 Trump has said he has about $400 million.
00:31 For all things money, visit Benzinga.com.
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