Civil Fraud Trial is Ongoing
Former President Donald Trump has been under fire for quite a while now. He has been involved in several court proceedings, as there are several allegations that have been brought against him. However, despite all of these court proceedings, he is still going around the country gathering votes for the presidential election.
There are also still a large majority of the population that are voting for Donald Trump, despite everything that is going on at this moment. However, recently he, the Trump Organization, as well as his two sons, have been found to have committed civil fraud.
Consequences As a Result
There have been severe consequences that he has had to comply with as a result of these convictions. All 3 parties were ordered to pay $464 million. Furthermore, his assets are likely going to be seized by the government. The only way that Trump can potentially prevent asset seizing from occurring, is by coming up with the money in just four days.
Four days to come up with the whopping amount of money, plus interest. Therefore, there are many people that are agreeing that it may be very difficult for him to do so. However, others are sure that he will come up with the money within the timeframe given, ensuring his assets do not get seized by the government.
However, Trump has strategically organized all of his assets, ensuring he had limited liability companies on each one of his assets. Therefore, this would make seizing of his assets much more difficult and time-consuming. Therefore, it is clear he had a plan B in case something occurred that was out of his control.
The Future of This Case
Many across the country are hoping that he can come up with the funds needed to ensure that his assets are not seized. However, it certainly is going to be something incredibly difficult to accomplish. $464 million is not a small amount of money and will take some work to come up with in the timeframe given. Only time will tell if he is able to come up with the funds, or if his assets are to be seized by the government.
Written by David Loran Jr
Sources:
CNN News: New York Attorney General takes initial step to prepare to seize Trump assets
The Hill: Trump faces asset seizure
Featured Image Courtesy of Michael Vadon’s Flickr Page – Creative Commons License
Inset Image Courtesy of Matt Johnson’s Flickr Page – Creative Commons License
