In the ongoing civil fraud trial against the Trump Organization, Donald Trump Jr., son of former President Donald Trump, took the stand to deliver his testimony. Addressing a New York courtroom, Trump Jr. asserted that he did not contribute to the preparation of the financial statements in question.
Donald Trump Jr., an executive at the Trump Organization, firmly stated that he had no involvement in the creation of the financial statements from 2016 to 2021. He indicated that the responsibility for such documents fell to the accountants. When queried about the 2017 financial statement, he replied, “I did not. The accountants worked on it. That’s what we paid them to do.” Trump Jr.’s role, according to his testimony, was more peripheral, involving conversations that might have influenced the statements indirectly.
The testimony is part of a broader trial where Donald Trump and his company executives, including his sons Eric and Donald Trump Jr., face allegations of fraudulently inflating the former president’s financial worth to mislead lenders. The plaintiff in the case is the New York Attorney General’s office.
According to Trump Jr., any discussions with accountants about licensing deals did not extend to the provision of the $246 million valuation that was used. He delegated financial documentation to the accountants and former Chief Financial Officer (CFO) Allen Weisselberg. Notably, Trump Jr. had difficulties elucidating the reasons behind Weisselberg’s departure from the company, following a guilty plea to tax evasion charges.
In his testimony, Trump Jr. mentioned his occasional involvement in providing cash flow figures to accountants and his oversight role in the company when his father assumed the presidency. Yet, he maintained that his participation did not extend to direct preparation or knowledge of the eventual use of those figures in financial statements.
Expert testimony also emerged during the trial, with a banking specialist indicating that Donald Trump and the Trump Organization gained more than $168 million in benefits. These benefits were presumably accrued through the alleged misrepresentations on the financial statements, although the exact mechanisms were not detailed in the testimony covered by the sources.
Further testimonies from Eric Trump and possibly Donald Trump are anticipated as the trial progresses, with both having previously denied any misconduct. The allegations against them include the overstatement of Trump’s assets, a claim central to the Attorney General’s lawsuit.
The lawsuit stems from a long-running investigation into the business practices of the Trump Organization, where financial dealings and statements have been scrutinized for potential misrepresentation and fraud.
This case is unfolding amid a charged political atmosphere, with the former President and his family at the center of various legal challenges. The outcome of this trial could have significant implications for the Trump Organization and its executives.
The trial continues, with more details expected to surface as further testimonies are given.