New York Attorney General Letitia James is ready to seize former President Donald Trump’s iconic New York City buildings if he can’t come up with the cash to pay his $355 million civil fraud fine, a new report shows. "If he does not have funds to pay off the judgment, then we will seek judgment enfo…

  • Flying Squid@lemmy.world
    link
    fedilink
    arrow-up
    175
    ·
    10 months ago

    I don’t know… maybe she should give him until the end of the summer.

    Of course, they could also sell fireworks out of there for Independence Day…

    • BarqsHasBite@lemmy.world
      link
      fedilink
      arrow-up
      52
      ·
      edit-2
      10 months ago

      I know it’s a joke, but they seize them and then put it up for sale. So they’ll get the highest market price someone is willing to pay. (Now if anyone knows how they deal with debt on the property let me know.)

      • JeeBaiChow@lemmy.world
        link
        fedilink
        arrow-up
        23
        arrow-down
        1
        ·
        edit-2
        10 months ago

        Hm… sounds like the Saudis may well end up with a way to bail him out then.

        Edit: come to think of it, what’s to stop Jared and Ivanka from picking up this bill, effectively keeping the property in the family?

        • TastehWaffleZ@lemmy.world
          link
          fedilink
          arrow-up
          26
          ·
          10 months ago

          Nothing stops them from bidding on the property but if they have the money they could just give it to him so the property wouldn’t be auctioned to begin with

        • protist
          link
          fedilink
          English
          arrow-up
          9
          ·
          10 months ago

          $355 million is a lot of money, especially when he also has other significant judgements against him and a ton of pending legal issues that will require many more millions in attorneys’ fees

      • mkwt@lemmy.world
        link
        fedilink
        arrow-up
        16
        ·
        edit-2
        10 months ago

        Any debt leftover after the sale is still owed by the debtor (i.e. big orange one). Of course, if that debtor has no other assets left, you’re probably not going to get paid.

        As far as I know (not a lawyer, not your lawyer), some legal judgements can be discharged in bankruptcy, while others cannot. I don’t know about this judgement. As an example, I believe OJ Simpson is still evading a wrongful death judgement that he cannot escape through bankruptcy.

        Another wrinkle: usually in order to appeal a judgement, you have to post an appeal bond that covers the value of the judgement. And the deadlines to do that are often very, very short.

  • Jaysyn@kbin.socialOP
    link
    fedilink
    arrow-up
    52
    ·
    10 months ago

    And E. Jean Carroll is about to sue his dumb ass again for remarks made earlier this week.

  • YurkshireLad@lemmy.ca
    link
    fedilink
    arrow-up
    49
    arrow-down
    1
    ·
    10 months ago

    He’s hawking his golden boots and someone started a GoFund Me campaign for him. Who knows what will happen!

  • Rapidcreek@lemmy.world
    link
    fedilink
    arrow-up
    22
    arrow-down
    1
    ·
    10 months ago

    When Letitia James said that she wouldn’t run for Governor, Kathy Hochul said…

    “That’s really bad news for Trump and the NRA”

  • PatFusty@lemm.ee
    link
    fedilink
    arrow-up
    5
    arrow-down
    1
    ·
    10 months ago

    I thought Trump doesn’t officially own the trump towers? I don’t think he owns anything officially in his own name

      • PatFusty@lemm.ee
        link
        fedilink
        arrow-up
        3
        arrow-down
        1
        ·
        10 months ago

        I don’t think this is how it works. I don’t think Trump owns ‘shares’ of GMAC or any of the properties that other people purchased.

    • bloup@lemmy.sdf.org
      link
      fedilink
      arrow-up
      3
      ·
      10 months ago

      No he definitely has a pretty substantial real estate portfolio. However, most properties bearing his name are just licensing it and are not owned by him. It’s a good point to make though. I was thinking myself that it will be funny if this makes it very apparent how much Trump has sold his own name out.

    • Jaysyn@kbin.socialOP
      link
      fedilink
      arrow-up
      2
      ·
      10 months ago

      Not even looking at entire buildings, Trump owns something like 1400 apartments in NYC alone.