Trump’s sons, Eric and Don Jr., will testify in NY fraud trial this week.
Get ready for some explosive courtroom drama! This week, Eric Trump and Donald Trump Jr., both executive vice presidents at Trump Organization, will be taking the witness stand in a fraud petition brought by New York Attorney General Letitia James. Eric is scheduled to testify on Wednesday, while Donald will follow on Thursday. And who knows, the testimony might even spill over into Friday!
Originally, Ivanka Trump was set to testify on Friday as well, but New York Supreme Court Justice Arthur Engoron decided to delay her testimony to November 8th. This extra time will allow her brothers to be questioned thoroughly. Ivanka, who left the organization in 2016 to join her father in the White House, was dismissed from the case earlier due to the statute of limitations.
But that’s not all! Former President Donald Trump himself will be taking the stand on November 6th. This trial is heating up!
Involvement
Last week, witness Michael Cohen dropped a bombshell, testifying that Eric Trump, Donald Trump Jr., and Ivanka Trump were all involved in efforts to “inflate” asset values. They would even be consulted by Trump Organization CFO Allen Weisselberg and Cohen himself about the properties they were developing and any additional value that could be added to the financial statements.
But wait, there’s more! Former Trump Organization comptroller Jeff McConney revealed that he had phone calls with Eric Trump, who instructed him to consider certain specifics when evaluating properties like Seven Springs. These instructions helped boost the value of those properties.
According to the original petition, Eric Trump is responsible for managing and operating all aspects of the Trump Organization, including acquiring new projects and overseeing development and construction. He has been actively involved in various golf course development projects. In 2017, Eric and his brother Donald Trump Jr. took over management of the Trump Organization from their father.
During his time as president, Donald Trump claimed to have distanced himself from his business to avoid conflicts of interest. He even advised his children against making deals while he was in office. He believed it wouldn’t be fair. However, Eric Trump and Donald Trump Jr. will likely face questions about their correspondence regarding property values.
The state attorneys are determined to prove that Trump Organization executives intentionally inflated asset values and President Trump’s net worth. Accountants who worked for the organization have already testified that they didn’t conduct independent audits and relied on numbers provided by Allen Weisselberg for their reports.
President Trump, on the other hand, maintains his innocence. He argues that the financial statements actually underestimated his net worth because his name and brand added significant value. He claims that the statements included a Disclaimer urging banks and insurers to conduct their own analyses, which they did. According to him, banks have always seen him as a profitable client.
But the plot thickens! A Deutsche Bank officer testified that the bank conducted its own analysis and considered the financial statements as one factor. Additionally, an appraiser revealed that Capitol One hired him to evaluate a Trump Organization property for their own purposes, indicating that he was never directly employed by the organization.
Case
Last September, New York Attorney General Letitia James filed a lawsuit against former President Donald Trump, accusing him of fraudulently inflating his net worth by up to $2.2 billion each year from 2011 to 2021. This lawsuit followed a three-year investigation triggered by allegations made by Trump’s former attorney and Trump Organization executive vice president, Michael Cohen, who publicly distanced himself from his former boss in 2018.
As the trial enters its fifth week, Attorney General Letitia James released a video statement on Monday, highlighting the testimony of former Trump Organization vice president Raymond Flores. Flores testified that he was asked to provide reasons for increasing the value of the Niketown property and that Mar-a-Lago was valued as a private residence in financial statements, despite being registered as a social club.
The attorney general’s office is seeking a whopping $250 million in damages. This trial is far from over!
Ified that the values of certain properties were indeed inflated. They stated that the higher values were used to secure loans, obtain tax benefits, and attract investors.
According to the attorney general’s office, Donald Trump himself
– What legal consequences may Donald Trump face for his involvement in inflating property values?
I’m not a lawyer, but I can provide some general information on the topic. Inflating property values could potentially lead to legal consequences for anyone involved, including Donald Trump if there is evidence supporting his involvement. Some possible legal consequences may include:
1. Civil lawsuits: Property owners or investors impacted by the inflated property values could file civil lawsuits against Donald Trump and other parties involved, seeking compensation for losses incurred.
2. Criminal charges: If there is evidence of intentional fraud or misconduct, criminal charges such as fraud, conspiracy, or false statement could be pursued by prosecutors. However, criminal charges require a high burden of proof, and it is up to law enforcement agencies and prosecutors to decide whether to pursue such actions.
3. Regulatory actions: Regulatory bodies, such as state real estate boards or the Securities and Exchange Commission (SEC), may investigate the allegations and potentially take actions like imposing fines, suspending licenses, or imposing other administrative penalties.
It is important to note that any legal consequences would depend on the specific facts of the case, the jurisdiction in which the alleged conduct occurred, and the interpretation of applicable laws. Legal matters can be complex, and it is advisable to consult with a qualified attorney for a thorough analysis of the situation.
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