New York Attorney General Letitia James has indicated her readiness to take control of former President Donald Trump's New York-based properties if he fails to pay the $354 million penalty imposed on him last week by a New York judge due to civil fraud charges.

James accused Trump of providing deceptive financial information to banks for improved loan conditions and stated her office would pursue the confiscation of his assets if the fine remains unpaid. Trump, who is seeking to re-enter the presidential race, intends to challenge the verdict that also prohibits him and two of his sons from engaging in business activities within New York, along with the fine.

James, in an interview with ABC News, emphasized her determination to ensure the penalty is paid, specifically mentioning Trump's 72-story Trump Building on Wall Street as a potential asset for seizure.

“If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” James said. “We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street each and every day.”

Trump denies any misconduct, attributing the legal actions against him to political bias and an attempt to influence the election. His attorney, Alina Habba, is confident the appellate courts will reverse the decision.

Trump has highlighted James' campaign statements against him, where she expressed her intent to pursue legal action against him and criticized his competence and suitability for office. James had openly discussed joining forces with law enforcement and other attorneys general to seek Trump's removal from office, citing possible charges of obstructing justice.