Donald Trump managed, on Monday, to prevent the State from confiscating his assets to collect a debt. To this end, the former President of the United States deposited a deposit of 175 million dollars (163 million euros) in a civil fraud case in New York.
With this amount, the collection of the republican presidential candidate’s debt, worth more than 454 million dollars (420 million euros), is suspended and the State can no longer keep his assets while the appeal he filed takes place, under the terms of the process judicial.
The decision was issued by the state appeals court where Trump seeks to overturn the decision of a lower court judge, who on February 16 determined that the millionaire had committed financial fraud by lying about his wealth to obtain favors in business. Trump considered this trial a politically motivated conspiracy by the Democratic Party, which he accuses of trying to empty the coffers of the Republican presidential campaign against President Joe Biden.
Towers, planes and golf courses at risk
Asset seizure is a common legal option when someone does not have the money to pay a court judgment. In Trump’s case, potential targets could include properties like penthouse at Trump Tower, in downtown New York, office buildings on Wall Street, in the financial district of the same city, aircraft or golf courses.
Trump’s debt stems from a months-long civil trial last fall over allegations that the businessman, firm and top executives inflated their wealth in financial statements, deceiving banks and insurers with whom they did business. Trump and the other defendants have denied any wrongdoing, saying the statements even understated their wealth.
The appellate division of the US courts announced it would hear arguments in September, without setting a date. This means it could coincide with the final weeks of the presidential race, scheduled for November 5th.
