• May 22, 2024

James May Seize Mar-a-Lago to Pay $454M Fine after Pushing Fake $18M Assessment

(Luis Cornelio, Headline USA) New York Attorney General Letitia James could seize Mar-a-Lago and sell it to the staggering $464 million civil judgment against former President Donald Trump. However, this proposed action raises eyebrows due to a stark contrast in valuation figures presented during the civil case. 

A CNN segment suggested on Wednesday that Mar-a-Lago could sell for approximately $240 million, nearly half of the civil penalty. Yet, during the trial, Manhattan Judge Arthur Engoron cited a Palm Beach assessor’s baffling valuation of the Florida-based country club at a mere $18 million. 

In contrast, Bess Freedman, CEO of luxury real estate firm Brown Harris Stevens, asserted on CNN that Mar-a-Lago could be “quickly” sold for “hundreds of millions” of dollars.

Even more telling was Freedman’s assessment of properties nearby Mar-a-Lago. “There could be plenty of international people who want to buy that property,” she added. “There are properties that are priced at $150, $200 million that are nearby that. Palm Beach is like the Invidia [envy] of real estate. It just shot up like a rocket.”

Freedman’s insights quickly gained the attention of conservatives on Twitter, who used them to scold Engoron’s ruling, which supported James’s allegations of Trump inflating Mar-a-Lago’s value. 

The legal battle began after James, a Democrat, initiated an investigation into Trump’s alleged inflation of his properties’ values to secure favorable loans and other financial perks.

Engoron, a left-leaning Democrat, concurred with James’s assertions, resulting in a $355 million judgment, which has increased to $454 million because of interests. 

The lack of a clear victim in the case, as Trump has reportedly repaid the loans with interest, has fueled growing concerns of a political witch-hunt by James. She campaigned for attorney general on the pledge to go after Trump and his business dealings if elected.

With Trump thus far unable to meet the hefty fine, James is preparing to seize some of his properties, including the Trump National Golf Club Westchester in New York’s Westchester County and the 212-acre Seven Springs estate.

Trump faces a deadline of March 25 to post a bond covering approximately 120 percent of the fine ($464 million) as he appeals the civil fine, according to Bloomberg. 

Source

The Daily Allegiant