Ivanka Trump, former President Donald Trump’s daughter, took the witness stand on Wednesday in a $250 million civil fraud trial against her father and his real estate empire. She provided testimony regarding a 2011 loan negotiation that implied her father’s actual net worth was significantly lower than what he claimed in his financial statements at the time. This revelation has added a new dimension to the ongoing legal battle.
Ivanka’s Role in the Trial
Ivanka Trump’s testimony came as the final witness called by the New York attorney general’s office, which has been conducting the six-week-long trial. Her composed demeanor in court was in stark contrast to her father’s impassioned testimony just two days earlier. Dressed in a navy pantsuit and white blouse, Ivanka Trump took the stand after initially contesting a subpoena from Attorney General Tish James’ office. Although she was originally a co-defendant in the lawsuit, she was dismissed from it earlier this year.
Key Testimony
The most significant part of Ivanka Trump’s testimony revolved around her involvement in negotiating a loan from Deutsche Bank for the Trump National Doral golf resort in Miami. Documents presented during the trial showed that Deutsche Bank initially proposed that Donald Trump maintain a minimum net worth of $3 billion, excluding any value related to his brand. Ivanka Trump responded with enthusiasm, stating, “It doesn’t get better than this. Let’s discuss asap.”
At the time, Trump’s financial statements claimed a net worth of over $4 billion, which the judge has ruled to be fraudulent. The attorney general’s office, however, alleges his true net worth was closer to $1.5 billion. In response to Ivanka Trump’s email, Trump Organization executive Jason Greenblatt expressed concerns about the net worth covenants and debt limitations.
During her cross-examination, the defense inquired about Deutsche Bank’s efforts to attract the Trump family’s business, potentially aiming to establish that the bank did not believe it was defrauded by the Trumps.
Following Ivanka Trump’s testimony, the state concluded its case. Trump’s legal team is set to present its defense starting on Monday.
COMMENTS