Posted on 03/21/2024 12:01:55 PM PDT by knighthawk
New York Attorney General Letitia James appears to be gearing up to potentially seize Donald Trump's Westchester golf club and Seven Springs estate as the deadline looms for the ex-president to secure the $454 million bond in his civil fraud trial.
The attorney general formally registered judgements in Westchester County where Trump has the two properties just north of Manhattan on March 6.
According to the county clerk's online database, the judgements were registered against Trump, the Trump Organization and his two adult sons Don Jr. and Eric. The action was first reported by Bloomberg News.
(Excerpt) Read more at dailymail.co.uk ...
This is so stupid. If she starts after property, let her have it. She can only get $454M. If he forfeits the golf property and Trump tower in Vegas, the bill is covered.
Trump like any other builder, is always cash neutered. They deal in worth, not liquid cash. As of mid-March 2024, Forbes estimates Trump’s net worth at $2.6 billion and Trump plays monopoly with really big buildings. He has property all over the world, hotels, golf course, warehousing and apartment buildings...the list is endless. So if she gets her $454M, that still leaves him with a paultry $2+B.
The wicked witch of the east wants $454M. Trump Tower in Las Vegas is worth $300M by itself. So she gets one building and one golf course and her limit is reached. So what? He can build another casino and golf course while he’s taking an afternoon nap. The whole process is ridiculous.
And if she gets them, what is the state going to do with them? They will just sell them and not get the amount they need and they don’t have a gambling license in Nevada so they can’t make any money off it. So what have they really accomplished? That amount of money doesn’t mean squat to Trump and the state is stuck with disposing of the property at a loss as they are not getting cash and the property sits. Congratulations to the state of New York for stupidity. This is why most lending organizations go after cash and not property if they can get out of it.
wy69
The pig. has commented many times that she was going to go after 40 Wall St or Trump Tower. Google Letitia James and 40 Wall St. Never was that golf course mentioned until now.
I'm stealing that. After 23 years of continuous NYC living, I move out at the end of the month. I'm taking your line with me.
What did he do to incur a $500MM fine again?
Oh, I know that. It's easy to talk smack when she's just jawboning for the media mob and her Dem cohorts. But, when it was time to actually make a move, we see what she chose. Why? We are just speculating. It just looks like the easiest picking to me.
Don Peebles, who served as an advisor to Obamster, was just on Cavuto and he loves Leticia, but sees the case for what it is. He commented, among other things, that her insistence [and presumably the judge’s as well] to move in on this judgement RIGHT NOW is simply because they know the case will be reversed on appeal, so time is of the essence to wreak as much havoc as humanly possible before that happens.
Gonna need a very sturdy lamppost.
insane
how would they ever make him whole...when they lose the appeal
Ha ha! A friend of mine use to own a deli on Queen blvd in Elmhurst and he would tell me every month the city inspectors would come in and give him $1000 fines for the most absurd things; Cash register display is not 7.4 inches off the counter, cigarette display is not precisely 3.4 feet from the counter, potato chip display is crooked, on and on and he told me “It’s like North Korea” so I told him OK maybe, but the food is good so he told me “It’s North Korea with food” LOL! YES!
That city does everything it possibly can to steal peoples money and ruin them. The best is when I went to go to work one morning and saw my sideview mirror laying in the street broken, and a ticket in my windshield for “Equipment violation no sideview mirror” and the mirror was electric and cost something like $400 so I couldn’t buy one till pay day in 2 weeks and everyday the bastard gave me another ticket and another and another and already owed a lot in tickets and then they towed my car! Stole it is more like it. So then I had to buy the mirror, pay the fines, go to the pound pay for towing and storage, nice little scam they got there. I don’t think even North Korea does that stuff.
One would think so, but Mr. Peebles is, so far as I know, a crowd of 1, count 'em, O.N.E.
“If this is just collateral for an appeal, she can’t liquidate or permanently control his stuff. She doesn’t have clearance for final disposal.”
It’s not collateral. She would have to get a court order to sell it though, that’s correct.
Pages 81-85 describe the disgorgements, including the amounts and who they apply to.
https://www.documentcloud.org/documents/24432593-engoron-civil-fraud-ruling
What nobody is talking about is properties Trump has a mortgage against or other partners on the property deeds. If she starts seizing properties owned with others and have nothing to do with Trumps activities, do they lose their money without due process?
Believe me, investors in NY are very nervous.
“What did he do to incur a $500MM fine again?”
The state, through James’ office, sued Trump in 2022, alleging he had committed fraud for years by inflating his wealth on financial statements given to banks and insurance companies in connection with various business deals. This inflation was based upon welth, not cash. He’s like most really welthy people, they have worth, not liguid wealth.
An example is Jeff Bezos. Bezos holds only 5% of his worth in cash. The American tech entrepreneur’s wealth is coming from strong gains from his online retail company now worth over $1.5 trillion.
The world’s richest man, Jeff Bezos owns about 11% of Amazon, according to its most recent SEC filing.
Jeff Bezos held 16% of the world’s largest online retailer before a 4% stake was transferred to his ex-wife last year following the pair’s divorce.
He is also the principal owner of space exploration company Blue Origin, which is included in Bloomberg’s calculation of investment cost.
https://nairametrics.com/2020/12/12/world-richest-man-jeff-bezos-holds-5-of-his-wealth-in-cash/
So by scattering his worth based upon something other than cash, he has worth for the purposes of investable credit, but no cash.
Trump does the same thing as most really rich people do.
wy69
That’s interesting - but the first ones I looked at aren’t even in New York. How can they do that? Doral is in Florida - maybe the loan was taken in NY?
Wow...a manufactured case out of thin air with their own appraisals instead of the ones used by the happy companies who did business with Donald Trump.
They could literally do this to ANYONE.
We were in the construction business and heard a story about an OSHA inspector giving someone a violation for not having TP in a holder. I guess loose TP was considered dangerous....or something.
Oh, that expert, Michiel McArty, the lone world class expert, whose evaluations and opinions were weighed instead of the actual banks with whom President Trump dealt, and President Trump, not exactly a greenhorn in the RE financials world.
That reminds me of the PR expert hired by the lovely Fani Willis, Letitia’s fellow traveler down in Georgia, to estimate the dollar value of her media coverage. By the same logic, she would have to pay income taxes on that gain.
Our founding fathers would have run her through with a pitch fork as they removed her from her position. She is a total enemy of the United States as is that filthy judge who gave her this predetermined judgment.
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