(NewsNation) — If former President Donald Trump can’t come up with $454 million — plus interest — on Monday to pay the fine in his civil business fraud case, he’s at risk of losing key pieces of his real estate empire.
New York Attorney General Letitia James has been preparing to go after the former president’s property if he does not pay his fraud judgment bond that has now accrued to over $457 million.
A judge initially ordered the former president to pay the $454 million penalty after determining Trump and his two sons committed fraud by providing false financial information to banks when applying for loans.
His bond amount has since ballooned because of anticipated interest, which piles on an additional $112,000 each day Trump doesn’t pay.
If Trump fails to post the bond, James could freeze his bank accounts or seize any of his New York properties to cover the cost of the bond.
While Trump Tower on Fifth Avenue and the Trump Building on Wall Street are already considered possible seizures, James’ office filed judgments in Westchester County earlier this month, just north of New York City. That’s home to Trump National Golf Club Westchester and the Seven Springs estate.
Trump claimed on social media that he has $500 million cash; however, in a court filing last week, his lawyers said he doesn’t have the money to cover the bond and that 30 insurance companies turned him down to help.
“Maybe he’s going to try and negotiate a deal at the last minute,” former Manhattan Assistant District Attorney Daniel Horowitz said. “But her path, like everything in the Trump legal world, is not so simple and straightforward because there are a series of steps that she could take and there are counter moves that he still has before any property is seized and taken into possession by the attorney ggeneral.”
The former president did file an appeal asking the court to reduce his bond to $100 million, but that request was denied.
Trump is also expected to be in court Monday morning for a hearing in the hush money case over a document dump. The former president will learn whether his criminal trial will happen next month.
Initially, the trial was scheduled to begin Monday, but it was postponed until mid-April.
Monday’s hearing involves thousands of documents the Justice Department turned over to Manhattan District Attorney Alvin Bragg concerning his case against Trump, causing the trial to be delayed.
Trump’s lawyers are asking the judge to postpone the trial or dismiss the charges.
The former president has been accused of illegally making hush money payments to adult film star Stormy Daniels. She claims she had a sexual relationship with Trump and was paid to keep quiet days before the 2016 election.
Trump has been charged with 34 counts of falsifying business records related to the payment.