Donald Trump could have to sell Mar-a-Lago resort to cover legal costs of New York trial
Donald Trump was found to have committed fraud by conspiring to increase his net worth in a partial summary of a lawsuit filed by Letitia James in 2022.
Donald and Melania Trump arrive for Easter brunch at Mar-a-Lago
Donald Trump could be forced to "liquidate everything," including his beloved Florida resort Mar-a-Lago to cover legal costs, an attorney said.
Trump's New York civil fraud trial is due to resume this week, with sons Donald Trump Jr. and Eric Trump expected to testify. The former president and his oldest daughter, Ivanka Trump, are due to take the stand next week.
The trial stems from a civil lawsuit New York Attorney General Letitia James filed in 2022 challenging The Trump Organization's financial statements.
James alleged that Trump, his family and allies conspired to inflate his net worth by billions of dollars in the documents provided to banks and insurers to secure loans and push forward with a series of deals.
Judge Arthur Engoron in September released a partial summary of the trial, stating that the former president and his allies had committed Trump.
And attorney George Conway, a long-time critic of the former president, warned that in addition to tarnishing his financial credibility, a conviction could force Trump to sell most of his assets – including Mar-a-Lago.
Conway argued Engoron's decision to approve a request from James for $250 million in damages was "a death blow to Trump's businesses."
Speaking to MSBC's Inside with Jen Psaki, the attorney said: "He's already been found to have committed fraud, that his books and records, that his statements of financial condition, are false.
"And the judge has already ruled that there was no triable issue of fact on whether or not they were false.
"And as a result, the judge said, ordered, that Trump and The Trump Organization, [their] ability to do business in the state of New York should be invalidated."
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Conway, the husband of Trump loyalist Kellyanne Conway, added: "And that puts him out of business, which means he's going to have to liquidate everything—including places like Mar-a-Lago, which are owned by New York LLCs (Limited Liability Companies).
"But then the question of how much of the proceeds of those sales, when he has to be put out of business, go to the state of New York. And that's what this is about.
"Their right to do business in New York is canceled, as is the certificates of incorporation of the various LLCs and companies that he himself owns that are incorporated in New York. So, he can't do business."
Trump and the other defendants have denied wrongdoing, and the former president has called the trial a politically motivated sham.
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