My understanding of Real Estate developer Donald Trumps Legal Woes
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My understanding of Real Estate developer Donald Trumps Legal Woes
Donald Trump may not have been banned from New York real estate, but his assets are still at risk if the former president can’t pay the penalty attached to last week’s civil fraud verdict.
New York Attorney General Letitia James told ABC News that her office could seek a judge’s permission to seize Trump buildings if he fails to cover his $355 million fine. With interest, that could bring the With interest, that could bring the total penalty to $450 million.
In her comments, James made specific mention of 40 Wall Street, one of the properties to emerge in Trump’s civil case. James alleged that the property’s valuation was fraudulently inflated by nearly $200 million. Fitch downgraded a security attached to the property last year.
Trump will likely have some hefty penalties in the mean time which add up to about $81,000.00 per day.
Updated: Boston Real Estate Blog 2024
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My understanding of Real Estate developer Donald Trumps Legal Woes
Former president Donald Trump legal woes are now dominating the news cycle as federal prosecutors hit the real estate developer with a 37-count indictment connected to the mishandling of classified documents.
The news surrounding the latest indictment is still unfolding. Special Counsel Jack Smith is expected to make a statement on Friday. Trump has loudly denied wrongdoing, while two members of his council resigned on the heels of the indictment being unsealed.
Still, this is only the latest legal drama connected to the twice-impeached former president and Republican frontrunner. Here’s a rundown of everything he and his legal team are currently battling.
On Thursday, the Special Counsel’s office filed its indictment and his aide, Walt Nauta, regarding the mishandling of classified documents, ABC News reported. Trump allegedly willfully retained secret government documents after leaving office. He’s also accused of showing them at least twice and obstructing the investigation into their handling. All 38 counts are felony charges, with 31 falling under the Espionage Act.
January 6 Attacks
Smith is also investigating Trump’s actions following the 2020 presidential election that led to the January 6 attack on the capitol. A special congressional committee has called upon Trump to be charged for inciting or aiding an insurrection.
The status of the probe is unclear, but the Special Counsel has interviewed several significant figures from that day, including then-Vice President Mike Pence and then-White House chief of Staff Mark Meadows.
A few months ago, Trump became the first president in U.S. history to face criminal charges, indicted in New York for allegedly falsifying business records in regards to hush money payment made to Stormy Daniels before the 2016 election.
Trump’s payment violated federal campaign contribution law, according to prosecutors. The 45th president has denied wrongdoing, though admits to reimbursing former attorney Michael Cohen for a payment he made to the porn star.
