New York Attorney General Letitia James may “put a padlock” on Trump Tower and other properties owned by failed former president Donald Trump, according to former federal prosecutor Glenn Kirschner, and the ex-head of state could also find his assets frozen and seized by the Empire State.
On Monday, attorneys for Trump told a judge they have been unable to secure a financial bond from any of the 30 companies they contacted about floating the $464 million needed for an appeal of the massive civil judgment handed down last month for crimes ranging from bank fraud to falsifying business records.
And that, Kirschner explained during an appearance on MSNBC, is the worst possible news for Trump.
“It would look like Tish James, figuratively speaking, putting a big New York state padlock on Trump Tower, for example,” he said.
“How does she extract the value from it, does she put it on the market? Does the state actually take possession of it and convert it to a state-owned property? I think the devil’s in the details with respect to how she will actually go about extracting the value to satisfy the half-billion-dollar judgment.”
Kirschner also noted that while Trump has bragged about being worth billions of dollars, he clearly doesn’t have the assets he claims.
“He is now being asked to put up a bond to secure basically a half-a-billion-dollar judgment, which would represent about one-twenty-eighth of his entire assets as Donald Trump [and his lawyer Alina Habba] say.”
If the disgraced ex-president was actually worth billions, Kirschner continued, “I would think insurance companies and sureties would be beating down his door to do business with him.”
“So it feels like this is perhaps the next-to-last step on the road to Donald Trump’s financial demise,” Kirschner said. “Because as we’ve been discussing, New York Attorney General Letitia James said she will absolutely begin seizing his properties to satisfy this money judgment that has been entered against him.”
The video, courtesy of RealClear Politics, can be viewed at this link.
