4:30 pm ET, November 8, 2023
Highlights of Ivanka Trump’s testimony so far
From CNN’s Lauren del Valle, Kara Scannell and Jeremy Herb
Ivanka Trump spent about two hours on the witness stand in her father’s civil fraud trial on Wednesday, answering questions about her role in the Trump Organization and the apartment she leased in one of her father’s buildings.
The former president’s daughter is no longer a defendant in the case, but she is the final witness the New York attorney general’s office plans to call in the case against Trump, his sons and his business.
The hearing is currently on lunch break.
Here are the highlights of his testimony so far:
Questions about financing loans with Deutsche Bank: He was interrogated at length about the Deutsche Bank loan for the Doral Golf Resort & Spa in Florida.
The loans are a key part of the lawsuit because Trump is required to submit annual financial statements — and the attorney general alleges the statements were falsified to inflate Trump’s net worth and get better credit rates.
AG attorney Lewis Salomon showed email communications Ivanka Trump had about shopping potential financing terms from multiple lenders to finance the Trump Ark. For Doral property. Donald Trump’s financial statements were shared with some potential creditors.
Louis Solomon, a lawyer for the attorney general’s office, showed the emails during questioning about Ivanka Trump’s proposal to reduce her father’s required net worth under a loan agreement with Deutsche Bank.
The final agreement for the Deutsche Bank loan required Donald Trump as guarantor to maintain a minimum net worth of $2.5 billion.
An earlier draft of loan terms proposed by the bank required Trump to maintain a net worth of $3 billion. In an email Salomon showed to the court, Ivanka Trump proposed a change to lower the net worth requirement to $2 billion.
Penthouse Apartment: She has distanced herself from any knowledge of the discrepancy in the value of the penthouse apartment she leases on Trump Park Avenue.
Ivanka Trump had an offer to buy the apartment for $8.5 million, but Trump’s financial statements show the value at $20.8 million. According to the attorney general’s civil complaint.
Solomon asked if the value of her purchase option was factored into her father’s financial statement.
“As I told you a year and a half ago, I was not involved in his financial position statement, so I cannot say what was taken into account or not taken into account,” he replied. .
Old Post Office Project: she The General Services Administration has acknowledged asking for “clarification on a number of matters” about Donald Trump’s financial statements submitted with the bid for the lease of the old post office in Washington.
Ivanka Trump said she remembers going to Washington to give a presentation to the GSA at the Trump Ark. Proposal for building.
She and her father spoke at a presentation meeting with GSA officials, she said.
“Do you remember that meeting where Donald J. Trump discussed financial statements in any shape or form?” Solomon asked.
“No I don’t remember that,” she said.
Ivanka Trump said the December 2011 meeting was a big-picture presentation that would “bring the project to life.”
“There are no financial statements or anything like that,” he said