If Trump doesn't raise nearly $500 million by Monday, New York Attorney General Letitia James could begin proceedings to seize his bank accounts and assets.
Here's how CNN's Erin Burnett Outfront discussed what could happen next.
Burnett: Okay. So Ryan, get Stephanie here quickly. If he can't do that, he loses in court. The building cannot be sold until next Monday. He can't do that.
And what?
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GOODMAN: So Letitia James seizes his property and puts liens on all of his assets and bank accounts. And as Erik said, it's not limited to New York. So she probably understands at this point where he has other assets in Florida, Mar-a-Lago, and elsewhere.
Burnett: What does that mean? That person can't go in, and people can't go in either. What does that mean?
GOODMAN: That means he can't fight in some parts of the courtroom. But he won't be able to actually use it during that period. And how will he conduct further business if the court is seizing it?
BURNETT: Stephanie, what does this actually mean to him? I mean, he's now publicly acknowledging that 30 insurance companies have refused to support this bond.
STEPHANIE GRISHAM, FORMER TRUMP WHITE HOUSE SPEECH: Yes. The fact that this is now being covered by the media must be very hard on not only Donald Trump, but his entire family, for his ego. This will hurt them. It will hurt their pride and I'm sure it will happen soon, tonight, maybe tomorrow. We'll hear about left-wing Democrats going after him, etc.
You know, listening to you guys talk about his real estate, if that were to happen, 40 Wall Street would probably be something he would like. I mean, he would hate it. But if she tried to take over Mar-a-Lago or Bedminster or Trump Tower, I mean, those people are her babies. There is a Sterling Golf Course in Virginia.
video:
Trump's nightmare scenario could begin on Monday. “Letitia James has seized his property and placed liens on all of his assets and bank accounts” (Video: CNN) pic.twitter.com/GLar8gVU7M
— Mike Sington (@MikeSington) March 19, 2024
If Trump fails to raise about $500 million by Monday, the state of New York will begin the process of seizing his assets, including his golf course and Florida real estate, even though 30 bond companies have refused. Like Mar-a-Lago.
Most of the properties Trump claims to own are only partially owned.
Attorney General James is well aware of Trump's assets, and the AG's office likely has a list of assets to target in court if Trump doesn't pay up.
The looming New York deadline is likely one of the reasons Trump filed a distraction lawsuit against George Stephanopoulos and ABC News.
Jason is the editor-in-chief. He is also a member of the White House Correspondent and Congressional Correspondent for PoliticusUSA. Jason holds a Bachelor of Science degree in Political Science. His graduate studies focused on public policy, specializing in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and the American Political Science Association.