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Donald Trump Could Use Loss of Assets to His Advantage


3 days ago 20
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Donald Trump will try to score a propaganda victory if the New York attorney general moves to place a levy on his assets, a New York law professor said.

Trump scored a big victory on Monday when an appeals court agreed to reduce the bond he is required to post in the $454 million judgment against him for fraudulent inflation of his assets and also extended the time he had to pay.

Trump now has ten days to raise a bond of $175 million after his lawyers told the appeal court on Thursday that Trump was unable to raise a bond to cover the full $454 million.

Stephen Gillers, a law professor at New York University, said that Trump will make sure to get publicity shots if New York attorney general Letitia James moves on his assets.

trump court ny
Donald Trump speaks during a press conference at 40 Wall Street on March 25, 2024 in New York City. Trump welcomed the reduction in the bond he has to raise in his New York fraud... Michael M. Santiago/Getty Images

"James will do something to levy on Trump's assets. Trump will photograph whatever she does—at the bank, in Westchester—and add the pictures to his mug shot as another example of how he is being persecuted by 'them.' "

Gillers said Trump would then use the pictures to raise money.

Trump gained a huge fundraising windfall after his mugshot was taken in Georgia in August 2023.

The former president raised $7.1 million in the 48 hours after he was booked at an Atlanta jail, the campaign reported to a number of sources.

It followed his indictment for alleged attempts to overturn the results of the 2020 election in Georgia.

Much of the mugshot fundraising was through the selling of shirts, posters, bumper stickers and beverage coolers bearing the image.

Gillers said that the Trump presidential campaign will be hoping for a similar result if Letitia James tries to seize Trump's assets.

Newsweek reached out to Trump's spokesperson via email for comment on Monday.

On February 16, Judge Arthur Engoron ruled in favor of New York Attorney General Letitia James's lawsuit against Trump and his sons, Eric Trump and Donald Trump Jr., over allegations that he inflated the value of his properties and his own net worth. The former president was ordered to pay $454 million in penalties and has been barred from conducting business in New York City for two to three years.

Trump was first required to post the bond amount by Monday, March 25, to stop James from collecting his assets and properties. The amount was lowered and the time to pay extended on Monday.

Last week, Trump's lawyers told the appeals court that they were unable to come up with the bond amount, saying, "Despite scouring the market, we have been unsuccessful in our effort to obtain a bond for the Judgment Amount for Defendants for the simple reason that obtaining an appeal bond... is a practical impossibility under the circumstances presented."

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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

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