Ivanka Trump, during the NY fraud trial, stated that she cannot remember the specifics of the deal
In June, the eldest daughter of Donald Trump was removed from the lawsuit.
Ivanka Trump Testifies in New York Civil Fraud Trial Involving Trump Business Empire
In a New York civil fraud trial that threatens the former U.S. president’s business empire, Ivanka Trump, daughter of Donald Trump, took the witness stand on Wednesday. Ivanka testified that she did not recall specific details of real estate deals she had worked on during her time at her father’s company, the Trump Organization. Her testimony came in the midst of a lawsuit brought by New York Attorney General Letitia James, a Democrat, accusing Donald Trump and his family businesses of manipulating real estate asset values to deceive lenders and insurers while enhancing Donald Trump’s reputation as a successful businessman. Unlike her father and her adult brothers, Donald Trump Jr. and Eric Trump, Ivanka Trump is not a defendant in this case.
During the trial, Ivanka Trump was shown a 2011 email in which she acknowledged that lender Deutsche Bank’s requirement that her father maintain a net worth of at least $3 billion posed a challenge. However, she encouraged company officials to approve it anyway. “We aimed to secure a favorable interest rate, and the most effective means to align proceeds, term, and principal with our preferences was to provide a guarantee for the deal,” she wrote to a Trump Organization lawyer. Ultimately, they settled on a net-worth requirement of $2.5 billion, even though her father claimed a net worth of $4.3 billion that year. While on the witness stand, Ivanka stated that she favored the deal but couldn’t recall specific terms. “I generally believed that the terms of the deal with Deutsche Bank for Doral were favorable,” she expressed.
Ivanka was also presented with a 2011 email from the federal government expressing concerns about irregularities in Trump’s financial statements as the company proposed to redevelop the Old Post Office, a federal property. Once again, she claimed not to recall the specifics, stating, “There were many emails, many conversations.”
In contrast to Ivanka’s approach, her father, Donald Trump, admitted on the witness stand that some of the valuations of his company’s assets, including golf courses and office towers, were inaccurate. The judge overseeing the trial had already ruled that the valuation methods used by the Trump Organization were fraudulent.
The heart of the lawsuit revolves around accusations of manipulating property values to deceive lenders and insurers, all while bolstering Donald Trump’s image as a successful businessman. While her adult brothers testified last week that they were not responsible for the financial documents at the center of the case, emails and other documents suggested their involvement was more significant than their testimony indicated.
Ivanka Trump, who served as a top executive at the Trump Organization between 2011 and 2017, focused on the redevelopment of the Doral golf course in Florida and the Old Post Office property in Washington during her tenure. Despite her absence from the defendant list, Attorney General Letitia James claimed that Ivanka was indeed involved in manipulating property values. “She will attempt today to distance herself from the company, but unfortunately the facts will reveal that she was very much involved,” James asserted.
Justice Arthur Engoron, who presided over the case and found Donald Trump, his adult sons, and 10 of his companies liable for fraud, issued a scathing ruling, describing how the defendants had fabricated valuations. This ruling has the potential to strip Donald Trump of control over some of his most well-known properties, though this order is currently on hold pending an appeal.
In addition to the civil fraud case, Donald Trump is facing legal challenges on multiple fronts, including four separate criminal cases, two of which stem from his efforts to overturn Joe Biden’s 2020 presidential election victory. Despite these legal troubles, opinion polls indicate that Donald Trump maintains a commanding lead over his Republican rivals as he seeks the nomination for the 2024 presidential election.
As the trial unfolds and the Trump family’s business practices come under scrutiny, the future of the Trump Organization and its associated penalties remain uncertain. New York Attorney General Letitia James is seeking $250 million in fines, as well as restrictions that would prevent Donald Trump and his adult sons from conducting business in New York. The outcome of this high-profile case will likely have far-reaching consequences for the former president and his family’s business empire.
By: M Z Hossain, Editor Sky Buzz Feed
