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If Donald Trump doesn’t cough up the $454 million he owes in his civil fraud case, he could have his bank accounts and properties revoked. He could also obtain a bond while he appeals the order, but he doesn’t seem to be doing much of either.
The court has given Trump until Monday to either open up his wallet or find an underwriter to back a bond before New York Attorney General Letitia James begins collecting on behalf of the state. If Attorney General James begins to seize his assets, they could include anything from real estate to bank accounts.
Trump Might Not Be a Billionaire For Much Longer
“There’s a lot that you can do here in New York,” Jocelyn Nager, a lawyer focused on debt collection and commercial litigation, told USA Today on Thursday. “It’s not just limited to real estate.”
“She could freeze accounts, encumber his real property in New York, and significantly impede Trump’s ability to access his New York-based assets,” attorney Chris Mattei told NBC News on Wednesday. Mattei is famously known for representing the families of the victims of the Sandy Hook shooting in their defamation suit against conspiracy theorist Alex Jones.
All James would need to do to seize Trump’s bank accounts is send a subpoena to the former president’s bank (if she knows that much) or ask a marshal for an immediate levy on the bank.
“It’s very fast,” she said. “It’s a question of how fast that document can be served on the bank.”
The Seizing of Trump’s Properties Could Happen Effective Immediately
And even if Trump flees the state, James’ authority to freeze Trump’s accounts extends outside of NYC, according to Mitchell Epner, a longtime New York litigator focused on commercial and white-collar issues.
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James is ready to begin seizing Trump’s properties around New York, including his office tower at 40 Wall Street in downtown Manhattan.
It is unclear as of yet whether Trump will meet the deadline, but James is prepared to rain Hell down upon him if he doesn’t, so he’d better get a move on.
