Former President Donald Trump is on the verge of being the first American citizen to be subjected to a practice banned by the founders in U.S. Constitution Article III, Section 3 called a Bill of Attainder.
It takes a perennial optimist to be a real estate developer. Where most people see the world around themselves in shades of black and white, the developer views empty land and run-down communities as about to explode into a kaleidoscope of color. Now imagine the vision of the most successful developer in America, and you would have Donald J. Trump.
Most people would say America needs this type of change-agent that can dream ridiculously huuuge, applies tremendous creativity and enthusiasm into making the deal possible, spends tons of money on materials and labor, and then pays-off all their creditors and does it again.
But if you are former President Donald Trump and you borrowed money in New York, you get prosecuted for the victimless-fraud for being too optimistic, then a partisan judge can order all your golf courses and high-rise buildings liquidated so state politicians can spend another $464 million.
According to Associated Press:
Judge Arthur Engoron, ruling in a civil lawsuit brought by New York Attorney General Letitia James, found that Trump and his company deceived banks, insurers and others by massively overvaluing his assets and exaggerating his net worth on paperwork used in making deals and securing loans.
Engoron ordered that some of Trump’s business licenses be rescinded as punishment, making it difficult or impossible for them to do business in New York, and said he would continue to have an independent monitor oversee Trump Organization operations.”
As former New York Times reporter Alex Berenson writes about the trial:
“In his own initial decision against Trump in September, Engeron himself found: “The record is devoid of any evidence of default, breach, late payment, or any complaint of harm… He then blithely rejected those facts as “completely irrelevant.””
By giving such a colossal fine that the court knows Former President Trump cannot get an appeal bond, because it would require either $520 million of cash or $3.66 billion worth of real estate as collateral.
New York State lawyers have already entered judgements against Trump, the Trump Organization, and his sons Donald Trump Jr. and Eric Trump with the Westchester County Clerk of the Court office for $464 million on March 6. Additional interest of over $100,000 per day is also accruing.
Liens already been entered in New York city on Trump properties, that include Trump Tower, his penthouse at Trump Tower, 40 Wall Street, his hotel next to Central Park, and many apartment buildings.
Liens will soon be entered on the Miami and Palm Beach properties where Mar-a-Lago and the Trump National Doral Golf Club are located, then liens will be placed on Trump’s hotel in Chicago and Trump National Golf Club in Los Angeles.
Without any court by Monday March 25 deferring payment until after a Trump appeal is adjudicated, the New York Attorney General will move after a 10 days of notice to fire sell the properties.
When the properties are sold and there is not enough cash to pay the judgement and interest, the New York Attorney General will be able to seize all Trump and his sons’ personal accounts around August.
Trump’s situation is now essentially that of the founders of the United States, who rebelled because their civil rights to own their property under English law were nullified for the crime of being politically active colonists.
When the uppity colonists won, the framers of the Constitution of the United States meeting in Philadelphia, Pennsylvania thought they had explicitly incorporated a ban against partisan motivated asset taking without a jury trial under Article III, Section 3. New York is trying to prove the U.S. Constitution is a dead letter.