Donald Trump, the ex-President of the US, might be stripped of his lavish Scottish estates as soon as today, following a US judge’s directive to settle a whopping $454 million debt for overvaluing his property empire.
The bronzed business tycoon’s prized golf resorts in Turnberry and Aberdeen hang in the balance as New York’s Attorney General Letitia James gears up to potentially nab Trump’s assets post-Monday’s court session.
This aggressive recovery effort of no less than 16 high-end properties aims to recoup the hefty amount Trump owes, as per The Mirror.
In the midst of a pivotal election season, Trump has lashed out, decrying James’s actions as a “political witch hunt,” while he’s hustling to gather the funds to cover the staggering amount.
The jeopardy extends beyond the Scottish golf courses to include 40 Wall Street and the iconic Trump Tower.
Here’s the comprehensive list:
- Trump Park Avenue, New York, N.Y.
- Trump Tower, New York City.
- 40 Wall Street, New York City.
- Trump Seven Springs, Westchester County, N.Y.
- Trump International Hotel, Las Vegas.
- Mar-a-Lago, Palm Beach, Florida.
- Trump National Golf Club Westchester, Briarcliff Manor, N.Y.
- Trump National Golf Club Charlotte, Mooresville, North Carolina.
- Trump National Golf Club Colts Neck, Colts Neck, New Jersey.
- Trump National Golf Club, Washington D.C., Sterling, Virginia.
- Trump National Golf Club Hudson Valley, Hopewell Junction, N.Y.
- Trump National Golf Club Jupiter, Jupiter, Florida.
- Trump National Golf Club Los Angeles, Rancho Palos Verdes, California.
- Trump National Golf Club Philadelphia, Pine Hill, New Jersey.
- Trump International Golf Links Scotland, Aberdeen.
- Trump International Golf Links Scotland, Turnberry.
Until recently, Trump’s chances of scraping together the $454 million seemed slim, but a glimmer of hope surfaced on Friday. Trump Media, the umbrella for his social media venture Truth Social, underwent a merger predicted to beef up Trump’s finances significantly.
Nonetheless, the New York Times suggests that the merger won’t help him to gather funds swiftly as it bars him from liquidating his shares for half a year or leveraging them for a loan. Should he fail to amass the needed cash promptly, James’s team may initiate the seizure of these swanky properties.
Yet, snagging these real estates won’t be a cakewalk for the AG’s office. Since Trump doesn’t hold complete ownership of many of his properties, as Northeastern University criminology professor Nikos Passas told Al Jazeera, the legal web is complex, with assets often shielded through intricate legal structures.
For instance, Trump’s 1995 lease acquisition of 40 Wall Street for $1.3 million didn’t grant him full ownership, posing a significant hurdle for James in her quest to settle the debt.
Trump aired his grievances on Truth Social on Friday, slamming the financial penalty as “communism in America.” He blasted in uppercase: “The often overturned political hack judge on the rigged and corrupt a.g. Case, where I have done nothing wrong, knew this, wanted to take it away from me, and that’s where and why he came up with the shocking number which, coupled with his crazy interest demand, is approximately $454,000,000.”
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Real estate attorney Adam Leitman Bailey weighed in, “If I were Donald Trump, I’d be on the phone now with every American billionaire, hoping they’d lend the cash,” he opined. “He’s in dire need of a financial hero to swoop in and save the day.”
