Donald Trump and Trump Organization execs are accused of defrauding lenders
Former President Donald Trump is on trial in New York in a $250 million lawsuit that could alter the personal fortune and real estate empire that helped propel Trump to the White House.
Trump, his sons Eric and Don Jr., and Trump Organization executives are accused by New York Attorney General Letitia James of engaging in a decade-long scheme in which they used “numerous acts of fraud and misrepresentation” to inflate Trump’s net worth in order get more favorable loan terms. The trial comes after the judge in the case ruled in a partial summary judgment that Trump had submitted “fraudulent valuations” for his assets, leaving the trial to determine additional actions and what penalty, if any, the defendants should receive.
The former president has denied all wrongdoing and his attorneys have argued that Trump’s alleged inflated valuations were a product of his business skill.
Eric Trump clarifies testimony about email
Eric Trump clarified his earlier answer regarding his involvement in his father’s statement of financial condition, in which he was asked if he recalled a 2013 email from then-Trump Organization controller Jeff McConney asking him for notes for the statement.
“I clearly understood I sent notes to Jeffrey McConney,” Eric Trump testified.
“I don’t think that it ever registered [that] it was for a personal statement of financial condition,” he said.