Former U.S. president Donald Trump made headlines with the recent ruling that he owed a civil fraud case-related fine of $354 million. Recent reports show that the New York Attorney General planned to take steps to seize his assets if he did not have the funds needed to cover the fine.

Judge Engoron Found Trump, Sons, And Former Execs Liable For Fraud

Judge Arthur Engoron found that Donald Trump, two of his former Trump Organization executives along with his two adult sons were liable for a decade of alleged fraudulent business activities.

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The judge ordered the group to collectively pay $464 million in pre-judgment interest and disgorgement. Multiple reports confirm that Trump would need to pay $355 million of the fine in addition to approximately $100 million of accrued interest.

Judgment Order Signed and Entered By Supreme Court Clerk

The New York County Supreme Court clerk reportedly signed and entered the finalized judgement order for the case on Friday. The order gave Donald Trump exactly 30 days to decide he wanted to file for an appeal.

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To pause the execution of the nine-figure fine for the case, the former US president would need to put up a substantial bond. Another approach would have been to place enough cash into an escrow account that would cover the full amount of the fines in addition to the accrued interest.

NY Attorney General Claimed She Was Prepared To Seize Trump’s Assets

Letitia James, the New York attorney general that filed the initial case against Donald Trump along with his co-defendants, made her plans clear to ABC News in an interview last week. If Trump did not have the funds needed to pay the judgment, James plans to “seek judgment enforcement mechanisms in court.”

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She further explained that her team would “ask the judge to seize his assets.” James added that her team was prepared to “make sure that the judgment is paid to New Yorkers.” She specifically referenced seeing “40 Wall Street” daily.

Letitia James States The Extent Of The Fraud Was Staggering

Attorney General James did not hold back when explaining her thoughts on the impact and severity of the alleged crimes linked to Donald Trump. She stated that “financial frauds are not victimless crimes.”

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She further claimed that Donald Trump “engaged in this massive amount of fraud” and that it was not just a “simple mistake” or “slight oversight.” She added that “the extent of the fraud was staggering.”

Investment Expert Claims That ‘There Is No Money Lost,’ ‘No Victim’

During an interview with FOX News on Monday, investment expert Kevin O’Leary questioned if the fine penalty appropriately matched the act in question. He noted that “there is no money lost” and “no victim here.”

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According to O’Leary, it is “just under half a billion-dollar fine for a situation where no monies were lost and the harmed party…were fully paid back.” The Shark Tank panelist further explained that they are wondering if it makes sense. He wonders “how long will it take for the appellate court to bring down to what a reasonable number might be.” O’Leary further admitted that he has “no idea” what number they may use.

James Alludes To How Government Would Handle Citizens In Similar Situations

James took it a step further by addressing how the government would approach the same type of fraud-related scenario with an ordinary citizen. For instance, if “average New Yorkers” submitted false documents into a bank, “the government would throw the book at them.”

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James concluded by stating that the “same should be true for former presidents.”

Trump Predicted ‘Mass Exodus Of Business’, James Says Wall Street Is ‘Just Fine’

Donald Trump publicly alleged that the case against him would spark a “mass exodus” of business activity from the state of New York. James rebuffed the allegation by stating that “Wall Street is doing just fine” and “tourism is up.”

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James described this case as playing a vital role in the protection of financial markets and their ability to treat all New Yorkers fairly. She concluded her interview with a brief reference to Trump’s other legal cases by saying someone once told her that “if you want something done, give it to a woman.”

O’Leary Says Possible Seizure Of Trump’s Assets ‘Is A Little Scary’

During his recent interview with FOX News, Kevin O’Leary did not shy away from highlighting the concern that investors have in New York as a result of this case. While the case goes through litigation, O’Leary claimed that investors are not allocating any additional funds into New York projects.

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He further indicated that the “stability of the justice system” is why “capital comes to America.” He added that the instability of this situation could have a domestic and international impact. O’Leary expressed that “seizing assets happens in Venezuela, it doesn’t happen in New York.”

O’Leary Agrees That It May Lead To ‘Quiet Exodus Of Capital’ Leaving State

Kevin O’Leary apparently agreed with Donald Trump’s beliefs that the litigation and potential seizure of his assets could lead to an exodus within the state of New York. O’Leary referenced a “quiet exodus of capital” leaving the area.

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O’Leary highlighted the potential impact on the ranking of New York when it comes to industries such as commercial real estate, hydropower and AI data. According to O’Leary, New York is now no longer on the list with such states as Oklahoma, West Virginia, North Dakota, Montana and Tennessee when it comes to the areas that have the “same power.”

Appeal Filed By Trump And Co-Defendants, Defense Lawyers Target Judge

Trump and each of his co-defendants filed for an appeal against the $464 million civil fraud case on Monday. Defense lawyers Clifford Robert and Alina Habba stated that the appeal was “taken from each and every part of the Order insofar as Defendants are aggrieved.”

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The defense lawyers requested for the court to determine if the judge “committed errors of law.” They added a concern that the judge may have “abused its discretion and/or acted in excess of its jurisdiction.”

Trump Attorney Claims James ‘Will Not Be Successful’

Attorney Alina Habba claimed that Letitia James would not be successful with her threat to seize Trump’s assets. She reportedly dismissed the treat in an interview earlier this month with FOX News when asked about James’ comments regarding the 40 Wall Street building.

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Habba expressed her belief that Donald Trump is “one of the smartest businesses” and “greatest presidents we have ever seen.” She further explained that if James thinks she is going to take Trump down, “that goal will not be successful.”

Trump’s Attorneys Pushed For 30-Day Extension, Referenced James’s ‘Unseemly Rush’

Trump’s attorneys reportedly pushed for the court to give their client a 30-day extension to the provided time frame allowed to pay the fine. They argued that Letitia James was in an “unseemly rush” to make sure that the verdict was enforced.

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Habba is the Managing Partner of Habba Madaio & Associates. She received the New Jersey Administrative Office of the Courts Certificate in Mediation & Conciliation Skills. She was also reportedly selected for the Super Lawyers Rising Stars List for 2016-2022.

The Impact Of Interest On A Nine-Figure Fine

A lot of attention has been paid to the $354 million fine linked directly to Donald Trump in this case. In addition, the full amount of $464 million hovering over he and his co-defendants has not gone unnoticed.

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Perhaps one of the most staggering aspects of the fine, however, is the interest that is still being accrued. The post-judgement interest is still accruing at a rate of close to $112,000 each day. That’s approximately $784,000 every week and over $3.36 million per month.

James Made History With Her Election, Promised To Hold Lawbreakers Accountable

Letitia James currently serves as the 67th Attorney General of New York. She made history in 2018 when elected by becoming the first woman of color to have a statewide office in the state. She was also the first woman to receive the title and position of Attorney General.

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James focused on her first term on providing protection for New York residents while ensuring that lawbreaking individuals or companies were held accountable. According to the official website for her position, she secured over $7.5 billion for New York from lawbreakers – including over $2.5 billion specifically from opioid distributors and manufacturers.