Letitia James just upped the ante against Donald Trump
When New York Attorney General Letitia James announced the findings of her fraud probe into Donald Trump and the Trump Organization, she said she would seek at least $250 million in penalties. The key words there were “at least.”
A couple months ago, court reporter Frank G. Runyeon of Law360 did the math on what all Letitia James was presenting at trial, and he estimated that James was actually seeking at least $367 million. That has turned out to be spot on, because today James announced that she is indeed seeking $370 million.
Keep in mind that while Letitia James is the one seeking the penalties, she’s not the one who decides them. Judge Arthur Engoron makes that determination. He ruled before the trial began that Trump was indeed overwhelmingly liable for fraud. This means he’ll hand down some kind of penalties. But Engoron could pick a dollar amount that’s the same, lower than, or higher than, the number that Letitia James is requesting.
For now the story is that the dollar amount keeps going higher. Let’s also keep in mind that because Donald Trump appears to be so upside down on so many of his properties, this isn’t a matter of him being able to simply sell off one building and pay the $250 million or $370 million fine. It’s far more likely that the courts begin seizing control of his assets and selling them off. Even if Trump is able to fight such a move in court, he presumably wouldn’t have access to his assets while they’re being contested. For a guy whose financial house of cards appears to be hanging by a thread, that’s not good news for him.
