Eric Trump testifies ‘I don’t recall’ when asked about involvement in Trump Organization valuation - as it happened

  • 11/2/2023
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"I don"t recall", Eric says in response to questions about valuation work Prosecutors pulled up a 2013 statement of financial condition data spreadsheet where Trump Organization executive Jeff McConney said that he used a valuation based off a telephone call with Eric Trump, the Guardian’s Lauren Aratani reports. When asked if he remembered that phone call referenced, Eric Trump said he did not. “I don’t believe I ever saw or worked on the statement of financial condition. I don’t believe I had any knowledge of it,” he said, adding, “I think I was 26 year old, I don’t recall - I was not aware of it, I never worked on it, and I didn’t know about it until this case came into fruition.” Here is a wrap-up of the day’s key events: Eric Trump distanced himself multiple times from the Trump Organization’s valuation work. He repeatedly claimed that he does not recall or was not involved processes surrounding statements of financial conditions. At one point, he pointed to a former Trump Organization attorney when asked about an appraisal. “She’s the one running the process,” he said, referring to former counsel Sheri Dillon, despite emails shown in court that showed multiple exchanges he had with the appraiser in 2014. He also responded to his deposition from earlier this year where he denied ever working on the statement of financial conditions. “I was not very familiar with my father’s financial statement,” he said in court. Donald Trump Jr also took the stand today, continuing from his testimony yesterday. Upon being asked whether it’s a fair statement that he was generally familiar with the overall finances of the Trump Organization, he said, “I would think so, yes.” Meanwhile, Donald Trump himself called judge Arthur Engoron a “fraudster.” In a fiery Truth Social post from earlier today, the former president accused the judge of “doing this out of his personal hatred of Trump.” That’s it from today as we wrap up the blog. We’ll be back tomorrow. Thank you for following along. Today’s hearing has ended. The court will meet again tomorrow at 10am. Eric Trump"s lawyer and judge appear to get into heated exchange The exchange began after NYAG’s prosecutor Andrew Amer redirected his questioning to whether Eric Trump was becoming aware of the NYAG’s investigation in 2021. Clifford Robert, another one of Eric’s lawyers, accused of Amer of attempting to “sensationalize what is not really a sensation.” Kise then joined in, saying, “I don’t know what else, other than sensationalizing is the issue. [...] Or just harassing the witness,” The Messenger’s Adam Klasfeld reports. Kise then referred to judge Arthur Engoron’s principal law clerk which infuriated Engoron. “Do not refer to my staff again,” Klasfeld reports Engoron saying. In response, Kise said, “She’s a civil servant,” to which Engoron replied, “Sometimes I think there’s a bit of misogyny in you referring to my female principal law clerk.” Kise then defended himself, saying, “I’m not a misogynist…I have a 17-year old daughter.” After a heated exchange, Engoron said, “Guess it’s time to go.” He added that he’ll see everyone at 10am tomorrow. To get a sense of the back-and-forth that’s been happening in the courtroom between Eric Trump and prosecutor Andrew Amer, Amer just pulled up an email from former Trump Organization lawyer Sheri Dillon where she says that she spoke to Eric Trump about the Seven Springs appraisal. “I spoke to Eric and he is aware that the more supportable value at this point is around $45m,” Dillon wrote in an email to the appraiser, who was eventually dropped by the company. Ultimately, the company valued the estate at $58m higher in their 2013 and 2018 financial statements. “I really hadn’t been involved in the appraisal of the property,” Trump said, growing frustrated. “You pointed out four interactions… I don’t recall McArdle [the appraiser] at all. I don’t think I was the main person involved.” “I don’t focus on appraisals, that’s not the focus of my day,” Trump followed up, speaking quickly, saying that he was focused on construction and physical development of properties. Eric Trump was questioned about the appraisal surrounding 71 residential units at the Trump National Golf Club in Westchester, New York. Below is an email sent from David McArdle, an appraiser from real estate firm Cushman & Wakefield, The Messenger’s Adam Klasfeld reports. Here is another email shown to Eric in which McArdle writes: “This is a follow-up to confirm that you will be providing support from your brokers for the potential pricing of the 71 residential units… At this time we are moving forward with the discounted cash flow analysis and look forward to the pricing and cost estimates from you team.” The court is back from break. “Right on time, I like to run a tight ship,” said judge Arthur Engoron. The court is currently on a break, the Guardian’s Lauren Aratani reports. Eric points to Trump Organization attorney when asked about an appraisal NYAG Andrew Amer focused on an appraisal for the Trump Organization by real estate firm Cushman & Wakefield for a conservation easement, or a type of tax break. Eric Trump said he has no recollection of the appraisal, though emails shown in court show multiple meetings and emails that he had with the appraiser at the time in 2014. Trump said that the appraisal was largely handled former Trump Organization attorney Sheri Dillon. When asked whether he recalls a decision to terminate the engagement with the appraiser, Trump said he had little recollection about it. “Presumably [Dillon] was closer to this,” Trump said. “She’s the one running the process.” Eric Trump was also questioned about his father’s Seven Springs estate in Westchester, New York and the notion of getting a conservation easement, Law360’s Stewart Bishop reports. The Trumps sought real estate firm Cushman and Wakefield to do an appraisal. According to the NYAG’s office, Eric was “deeply involved in this process.” NYAG prosecutor Andrew Amer asked about mid-2014 during which Eric spoke to someone from Cushman & Wakefield regarding the appraisal process, Bishop reports. Eric agreed that the conversation took place. Bishop adds that Amer sounded “a bit annoyed” whenever Eric does not deliver a “yes” or “no” answer to his questions. Amer then asked if Eric recalls whether the appraisal was preliminary to which Eric responded that he would have to ask Sherri Dillon, the Trump Organization’s former outside counsel on the process. He said she was “much closer to the process.” In response, Amer said, “There’s a lot of people I could ask.” He then asked Eric again. Eric maintains that he does not recall, Bishop reports. Eric responds to deposition from earlier this year We’re back from lunch break, and Eric Trump just responded to a series of videos that were played back for him from his deposition earlier this year where he denied ever working on the statement of financial conditions at the center of the case. “This is not something I ever recall seeing or working on and really only came to my attention” because of this case, Trump said in a deposition, echoing testimony from earlier in the day. NYAG prosecutor Andrew Amer asked Trump if after reviewing email between Jeff McConney, if he will “concede that you were very familiar” with the financial statements. “No, I was not very familiar with my father’s financial statement,” he responded. Trump has been maintaining that despite emails showing that he was explicitly consulted on for these financial statements that he did not know about them. “People have conversations with me all the time that I can give them answers,” he said. “The statement of financial condition stopped at Allen Weisselberg [former Trump Organization chief financial officer]. This was an accounting function.” This kind of back and forth has been going on the whole day. At times, Eric Trump has appeared visibly annoyed at the repeated questions. At one point, Amer told Trump not to make any “speeches” from the stand and to answer his questions with “yes” or “no.” “Your lawyers have the opportunity to question you,” Amer noted, referencing cross examination. Trump’s lawyer declined to cross examine his brother Donald Trump Jr, so it is unclear whether there will be any cross examination of Eric Trump at all. Eric Trump tells court he is "getting tripped up" and did not register questions were about statements of financial condition Eric Trump has returned back to the stand and “his temper is flaring,” MSNBC’s legal analyst Lisa Rubin reports. Rubin also reports that Eric was shown a July 2013 email exchange between him and Allen Weisselberg, chief financial officer of the Trump Organization. The email surrounded Donald Trump’s Las Vegas project. Weisselberg informed Eric that in order to secure a line of credit, his father’s financial statement was required. Eric replied they would not require a line of credit and “emphasizes this now,” Rubin reports. Upon being asked whether he read it, Eric acknowledged he did and “that by reading it, he would have understood that the Trump Org. was contemplating giving a bank Trump’s statement of financial condition,” Rubin adds. Eric Trump testimony continues Eric Trump is now back on the stand following a lunch break. He will continue testifying his knowledge of the Trump Organization’s valuations.

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