Eric Trump Says Seizure of Father's Assets Would 'Hurt' 1,000 Workers Instead of Executives; Claims $454M Bond 'Don't Exist in This Country'

By Leira Aquino

Mar 24, 2024 11:09 PM EDT

Eric Trump
Eric Trump, son of former President Donald Trump executive vice president of the Trump Organization, criticized the possibility of seizing his father's assets, arguing that such action would hurt the organization's thousands of workers more than its executives.
(Photo : MANDEL NGAN/AFP via Getty Images)

In a fervent defense of his father, Eric Trump, the executive vice president of the Trump Organization, vehemently opposed the potential seizure of former President Donald Trump's assets, arguing that it would disproportionately harm the organization's workers.

With a looming deadline for Donald Trump to pay a staggering $454 million bond related to a civil fraud case in New York, Eric Trump spoke out against what he deemed an exorbitant demand.

Eric Trump Denounces Father's Potential Asset Seizure

Speaking on Fox News's Sunday Morning Futures with Maria Bartiromo, Eric Trump expressed concern for the welfare of the Trump Organization's employees.

"They're going to hurt the thousands and thousands of employees that we have in New York state. These are janitors, these are doormen, these are people that work in commercial buildings," he said. "They're going to hurt those individuals, not the executives."

Eric Trump lambasted the unparalleled size of the bond, claiming it to be unprecedented in the nation's legal history. He recounted his futile attempts to secure the bond even after coming after the largest bond issuers in the world.

He revealed that surety companies dismissed his inquiries with laughter when he approached them for such a colossal sum.

"No one's ever seen a bond this size," he stressed. "Every single person, when I came to them saying 'Hey, can I get a half-billion-dollar bond?' They were laughing."

Eric Trump stated that putting up a bond of that size is "physically impossible" and characterized it as a political vendetta on Donald Trump.

"Putting up a half-a-billion dollar bond-bonds that size don't exist in this country," he said. "This is a crooked system with a crooked attorney general and a crooked court that literally wants to put my father out of business."

In a post on X, formerly Twitter, Eric Trump reiterated his statements.

"A half a billion dollar bond is simply not commercially available. The 30 largest bonding companies in the United States have never seen a bond close to this size for anyone, let alone a private company," he posted. "Letitia James is hellbent on a political vendetta against my father with zero regard for the lives of thousands of hard-working New Yorkers, who make their living in our buildings."

READ NEXT: Trump's Social Media Company, Which Owns Truth Social, Set To Go Public; Ex-President Could Net $3 Billion Soon!

Deadline Looms for Trump's Asset Seizure

Monday marks the deadline for New York Attorney General Letitia James to initiate collection proceedings against Donald Trump's business and real estate interests in New York City, including prominent properties like Trump Tower and Trump National Golf Club Westchester. 

As early as Tuesday morning, New York Attorney General Letitia James could commence the seizure of Trump's assets.

Donald Trump faces mounting challenges on multiple fronts, including over 80 pending criminal charges related to his conduct following the 2020 presidential election. 

Despite the uncertainties surrounding the case, Eric Trump highlighted the resilience and determination of his father.

"My father never gives up. He's the toughest guy I've ever met in my entire life and he's hell-bent on winning," he said. "And we are going to win in November."

READ MORE: Which Donald Trump's Assets Are at Risk If Former President Failed to Pay $454 Bond?

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