LOGIN

Donald Trump Jr. returning to stand as defense looks to undercut New York civil fraud claims

by Lucas Garcia
3 comments
Trump Jr. Testimony

Donald Trump Jr. is set to take the witness stand once again as the defense seeks to undermine the civil fraud claims brought against the former president in the New York trial. The trial, which poses a significant threat to Donald Trump’s real estate empire, has seen its fair share of twists and turns.

On November 1st and 2nd, Donald Trump Jr., an executive vice president at the Trump Organization, initially testified, asserting that he had not been involved in preparing the annual financial statements that lie at the core of the lawsuit initiated by New York Attorney General Letitia James. Instead, he stated that he relied on the company’s long-standing finance chief and external accountants to ensure the accuracy of these financial documents.

The allegations against Donald Trump, his company, and key executives, including Eric and Donald Jr., revolve around claims that they exaggerated Trump’s wealth by billions of dollars in financial statements provided to banks, insurers, and other parties. These documents were instrumental in securing loans and making business deals. The attorney general is seeking over $300 million in alleged ill-gotten gains and a ban on the defendants conducting business in New York.

Before the trial began, Judge Arthur Engoron ruled that the defendants had committed fraud by inflating Trump’s net worth and asset values on his financial statements. This ruling could potentially lead to Trump losing ownership of prominent properties like Trump Tower, although an appeals court has allowed him to retain control for the time being.

Throughout the trial, the Trumps have vehemently denied any wrongdoing. Their legal team argues that the state has failed to meet the necessary legal standards to substantiate the allegations of conspiracy, insurance fraud, and falsifying business records. The prosecution rested its case after six weeks of presenting testimony from over two dozen witnesses, including company insiders, accountants, bank officials, and Michael Cohen, a former confidant of Trump who has since become a critic.

The trial continues despite the defense’s attempt to have it ended prematurely through a directed verdict, which Judge Engoron did not grant. Trump’s lawyer, Christopher Kise, contended that the state’s case involved only “successful and profitable loan transactions” and that there were no victims, complainants, or injuries involved.

Donald Trump Jr., after his initial testimony in early November, echoed his father’s assertion that the case was a “political persecution” instigated by Letitia James, a Democrat, in an attempt to hinder Trump’s potential 2024 presidential bid.

On the upcoming days of the trial, Donald Trump Jr. is expected to be questioned first by the defense, which represents him, his father, and other defendants. A state attorney will also cross-examine him. Following his testimony, a tax lawyer who previously testified as a state witness is set to take the stand.

The defense intends to call several expert witnesses in their effort to challenge the testimony of state witnesses who claimed that Trump’s financial statements resulted in more favorable loan terms, insurance premiums, and influenced business deals.

It is worth noting that when Donald Trump assumed the presidency in 2017, he delegated the day-to-day management of his company to Eric and Donald Trump Jr. He also appointed Trump Jr. as a trustee of a trust designed to hold his assets while he was in office.

In his earlier testimony, when asked about his involvement in his father’s “statement of financial condition,” Donald Trump Jr. stated, “Not that I recall.” He acknowledged signing off on statements as a trustee but emphasized that the actual work was carried out by external accountants and the company’s finance chief, Allen Weisselberg. He explained that he relied on their expertise and intimate knowledge of the matter.

Frequently Asked Questions (FAQs) about Trump Jr. Testimony

What is the New York civil fraud trial about?

The New York civil fraud trial revolves around allegations that Donald Trump, his company, and key executives, including Donald Trump Jr., exaggerated his wealth by billions of dollars on financial statements provided to banks, insurers, and others. These statements were used to secure loans and make business deals.

Who is Donald Trump Jr. in this trial?

Donald Trump Jr. is an executive vice president at the Trump Organization and is involved in the trial as a witness for the defense. He has testified that he was not directly involved in preparing the financial statements in question and relied on the company’s finance chief and external accountants for their accuracy.

What is the significance of this trial for Donald Trump’s real estate empire?

If the allegations in the trial are proven true, it could have significant consequences for Donald Trump’s real estate holdings. The judge’s ruling prior to the trial suggested that Trump could potentially lose ownership of properties such as Trump Tower.

What are the main allegations against the Trumps in this trial?

The main allegations include fraud, conspiracy, insurance fraud, and falsifying business records. The state of New York, led by Attorney General Letitia James, claims that the Trumps engaged in these illegal activities by inflating Trump’s net worth and asset values on financial statements.

How has the defense responded to these allegations?

The defense team representing the Trumps has consistently denied any wrongdoing. They argue that the state has not met the legal standards required to substantiate the allegations, and they maintain that the transactions in question were successful and profitable without any victims or injuries.

What is the role of expert witnesses in the trial?

The defense plans to call several expert witnesses to challenge the testimony presented by state witnesses. These experts will aim to refute the claims that Trump’s financial statements led to more favorable loan terms, insurance premiums, and influenced business deals.

How has Donald Trump Jr. characterized the trial?

Donald Trump Jr. has echoed his father’s perspective that the trial is a “political persecution” initiated by Attorney General Letitia James to hinder Donald Trump’s chances as a potential candidate for the 2024 Republican presidential nomination.

More about Trump Jr. Testimony

You may also like

3 comments

JournalistExpert November 13, 2023 - 12:23 pm

wow, this trial sounds super intense, trump jr’s testmony is a big deal.

Reply
LegalEagle November 14, 2023 - 2:08 am

interesting stuff, wonder if the expert witnesses will make a diff in the end.

Reply
EconPoliticWatcher November 14, 2023 - 5:08 am

yeah, it cud rly impact trump’s biz, im curious abt the allegations n defens too.

Reply

Leave a Comment

logo-site-white

BNB – Big Big News is a news portal that offers the latest news from around the world. BNB – Big Big News focuses on providing readers with the most up-to-date information from the U.S. and abroad, covering a wide range of topics, including politics, sports, entertainment, business, health, and more.

Editors' Picks

Latest News

© 2023 BBN – Big Big News