In a pivotal development at the ongoing $250 million civil fraud trial, members of the Trump family are slated to take the stand this week. Donald Trump Jr. is scheduled to testify on Wednesday, with Eric Trump expected to follow, likely on Thursday, and the former president, Donald Trump, and his daughter, Ivanka Trump, due to testify next week.
The trial revolves around allegations of civil fraud, as brought forth by the New York State Attorney General, Letitia James. The Attorney General’s office contends that the Trump family and their company engaged in a longstanding scheme to artificially inflate their company’s assets, thereby securing loans and insurance policies on more favorable terms. The Trump children served as executive vice presidents at the Trump Organization, the real estate company owned by their father, with Ivanka Trump having later departed to work in the White House.
Donald Trump Jr. will be the first to face questioning by the state’s legal team. He is expected to provide insights into his involvement with the company’s financial statements, which were shared with financial institutions and insurers and are alleged to have significantly overstated the company’s assets and property values. These documents played a critical role in securing loans and insurance policies.
During the time his father held the presidency, Donald Trump Jr. and the former chief financial officer, Allen Weisselberg, were responsible for certifying the accuracy of the company’s financial statements, attesting that they adhered to accepted accounting practices. The New York Attorney General contends that neither of these assertions holds true.
The Attorney General’s inquiry will also delve into Trump Jr.’s role in the valuation of various Trump properties. This includes a Park Avenue apartment building valued at $292 million, which the state argues is approximately six times the property’s appraised value. Notably, the valuation of one apartment within the building, at $25 million, comes under scrutiny, considering that Ivanka Trump, who was renting it, had an option to purchase it for a significantly lower price of $8.5 million.
The Trump family, including Donald Trump Jr., Eric Trump, and the former president, vehemently deny any wrongdoing in this matter. Notably, Ivanka Trump has been dropped as a defendant in the case by an appeals court, citing that the claims against her were too old. These testimonies promise to shed light on a high-stakes legal battle that has captured significant public attention.
