In a dramatic turn of events, Donald Trump Jr. is poised to take the witness stand in the Trump Organization's $250 million civil fraud trial. This development marks the first appearance of a member of the Trump family in the ongoing trial, which has now entered its fifth week.
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| Donald Trump Jr. to provide testimony in the Trump Organization's $250 million Fraud Trial |
At the heart of this trial are allegations that Donald Trump and his business engaged in fraudulent practices by inflating his net worth. These alleged actions were carried out to obtain more favorable loans, secure insurance deals, and enhance Trump's image as a successful businessman.
Donald Trump, the former President, has vehemently criticized the trial, dismissing it as politically motivated. He has even appealed a pretrial ruling that accused him of employing fraudulent statements in his business dealings.
New York Attorney General Letitia James originally included all three of Donald Trump's children, Donald Trump Jr., Eric Trump, and Ivanka Trump, as defendants in her lawsuit. She claimed they were intimately involved in managing the family's business. James contended, "The desire to exaggerate his net worth was well known among his children."
Ivanka Trump was removed from the lawsuit in June 2016 because she was no longer associated with the Trump Organization.
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| Donald Trump Jr. to provide testimony in the Trump Organization's $250 million Fraud Trial |
In the upcoming week, all three of Trump's children are scheduled to testify in the trial. Donald Trump Jr. will be the first, followed by possibly Eric Trump on Wednesday, and Donald Trump himself is set to testify on Monday. Ivanka Trump will serve as the state's final witness next Wednesday.
Donald Trump Jr., a staunch defender of his father both on the campaign trail and on social media, is expected to face questions about his role in managing his father's revocable trust, which was used to prevent potential business conflicts while Trump was in office. He certified the accuracy of financial statements between 2016 and 2021, each alleged to have been inflated by the attorney general.
James alleges that Donald Trump Jr. was mainly involved in the commercial leasing of 40 Wall Street, one of the properties the judge has already determined to be overvalued in Trump's financial statements by over $300 million.
Furthermore, Trump Jr. may face inquiries regarding why the financial statements inflated the value of rent-stabilized units in the Trump Park Avenue building by a staggering 700%, disregarding the fixed rent of low-income residents. According to James, Trump Jr. expressed frustration about these tenants, stating they were "the bane of [his] existence for quite some time."
During the trial, co-defendants and former Trump Organization executives Allen Weisselberg and Jeffrey McConney testified that Trump Jr. was not personally involved in preparing his father's allegedly fraudulent financial statements. However, they noted that Trump Jr. and his siblings became more involved in running the Trump Organization once their father assumed the presidency in 2016.
Emails from Donald Trump Jr. have been presented as evidence in the trial, including a 2017 email chain in which he discussed the value of Trump's triplex apartment in Trump Tower. This chain included a list of concerns raised by a Forbes magazine reporter regarding Trump's financial claims. Despite these discrepancies, Trump Jr. and Weissberg endorsed Trump's 2016 financial statement, falsely claiming that the triplex was 30,000 square feet and worth $327 million.
In anticipation of his testimony, Donald Trump Jr. has criticized the trial, characterizing it as a "sham" conducted in a "kangaroo court." He expressed his concerns, stating, "It doesn't matter what general practices and business will be. It doesn't matter. They have a narrative, they have an end goal, and they'll do whatever it takes to get there," referring to the New York attorney general's office.
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