Here’s how Trump could dump his NY empire to pay his $355M civil fraud ruling
Luxe Manhattan skyscrapers, championship-caliber golf courses, and a 200-acre Westchester estate could all be up for grabs as Donald Trump strains to pay the $355 million civil fraud ruling that a New York judge slapped him with this week.
A host of Trump properties in Manhattan, Westchester, and the Hudson Valley — even his iconic $348 million Trump Tower — could end up on the chopping block, sources told The Post, as a 30-day deadline to pay the fine imposed by Manhattan Supreme Court Justice Arthur Engoron looms.
“I can’t imagine that he’s going to hold on to any assets in New York state after this,” a Trump insider told The Post.
The multimillion-dollar fine will take a major chunk out of the GOP presidential front-runner’s net worth, estimated by Forbes at $2.6 billion — even though experts said he has strong grounds for appeal.
“I think he’s got a decent shot of either reducing the sentence or having it thrown out,” said a former New York state judge, noting a state appeals court could pick the complex case apart on multiple grounds.
The monstrous fine alone raises “serious concerns,” said George Washington University law professor Jonathan Turley — enough, he said, to potentially send the case to the US Supreme Court.
“The glaring disconnect between $355 million in fines and $0 in actual damages raises obvious concerns over grossly excessive awards,” Turley said. “In extreme cases, it can be a violation of due process under the federal constitution.”
But before any other court can review Engoron’s decision, Trump will have to pay hundreds of millions out of a portfolio based mainly on residential properties, commercial buildings, and resort holdings in New York City and around the world.
That could put any of Trump’s New York properties — including two of his 18 golf resorts, his $248 million tower at 40 Wall Street, a $283 million commercial building at 6 East 57th Street, the $30 million Seven Springs estate in Westchester County, and Trump’s longtime penthouse home in Fifth Avenue’s Trump Tower — under threat.
“The amount he will have to put up will be in excess of $450 million, just to appeal,” a person familiar with the case told The Post.
In civil matters, it’s customary for judges to require up to 120% of a fine to be held in escrow while the case wends its way through the court system.
“The defense can propose a different amount to be held in escrow,” the source explained. “But the ultimate decision on that is up to the judge.”
Engoron’s ruling slapped a 9% interest charge on top of Trump’s fine, which will accrue daily until it’s paid.
And Trump will have to collect the money fast: he has just 30 days to come up with the cash, or to find a surety company to guarantee it for him – using some of his properties as collateral.
No bank that does business in New York is permitted to lend to the former president, under the terms of Engoron’s ruling.
“By imposing an astronomical award, Engoron made it difficult to even appeal his decision,” Turley said, calling it “one of the most insidious aspects of the ruling.”
“This award should shock the conscience of any objective jurist,” he said.
In 2021, according to a Trump Organization document entered into evidence during the fraud trial, Trump had $293.8 million in “cash and cash equivalents” at his disposal — far less than the amount Engoron could require.
An inablity to pay the judgment — or a refusal to cooperate with the judge’s ruling — could trigger dire consequences.
“Enforcement lies with the court,” the source with knowledge of the case said. “And seizure of assets is not outside what they can do.”
A source inside the Trump camp insisted the company can take the hit — betting an appeals court will reduce the fine by more than half.
Until then, the source said the Trump Organization has enough cash on hand to post a bond, with unspecified properties to be used as collateral.
On Friday, Engoron found Trump liable for inflating his net worth by billions of dollars a year to get better loan and insurance terms in a case brought by New York Attorney General Letitia James, who campaigned on a promise to bring down his business empire.
The judge’s decision also banned the former president from doing business in the state where he built his brand.
Trump, 77, ripped the ruling as “a Complete and Total SHAM” on social media — claiming James’s legal pursuit in the midst of a presidential campaign was tantamount to “election interference.”
“I helped New York City during its worst of times, and now, while it is overrun with Violent Biden Migrant Crime, the Radicals are doing all they can to kick me out,” he ranted on Truth Social.
A group of about 30 anti-Trump protesters demonstrated outside Trump Tower Saturday, hoisting placards mocking his fiscal plight.
“Going out of business,” a large banner read. “Everything must go!”
But visitors entering the ex-president’s skyscraper were unmoved by the display.
“I think the system is definitely rigged,” said Courtney Vance of Cape Cod, Mass., who said she voted for Trump in 2016 and still supports him.
“I think they’re trying to take him down so he’s not able to run,” Vance said. “I think they’re trying to cripple him.”
Additional reporting by Georgia Worrell
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