Ivanka Trump Was Concerned That Her Father Did Not Have Enough Money, Reports Reveal
According to evidence given on Wednesday in a civil fraud trial, Ivanka Trump voiced worry that her father was not rich enough to consummate the transaction when he attempted to purchase a Florida golf estate in 2011. For five hours, Ivanka was questioned by the New York attorney general about her father's wealth and the loans he obtained as a result of it as part of the civil fraud lawsuit against the Trump Organization. As reported by Reuters, New York state attorneys provided emails and other evidence to support their case, which contends that Trump and his corporation exaggerated his net worth by as much as $2.2 billion.
Ivanka Trump testified in New York as the state's final witness in the Trump Organization civil fraud trial. The former president’s daughter answered “I don’t recall” multiple times, saying she had no knowledge of her father’s financial statements. pic.twitter.com/vX3mWJjMws— CBS Evening News (@CBSEveningNews) November 9, 2023
Although it seemed that Ivanka had dealt with her father's yearly financial papers, which detailed the worth of his holdings, she claimed that she had been preoccupied with other matters. She said, "I would assume he would have personal financial statements. Those weren’t things that I was privy to." Ivanka attempted to put space between herself and the dubious appraisal procedures that the judge presiding over the trial had already found bogus. She admitted assisting with real estate transactions for the firm but denied having any hand in determining Trump's wealth. According to the outlet, she said, "I generally understood that there was a personal guarantee. This level of granularity was not something that I can sit here today and say that I recall."
Louis Solomon, an attorney with the Florida attorney general's office, questioned Ivanka Trump at length about the loans that Deutsche Bank provided to build the Doral Golf Resort & Spa in Florida. The loans are significant to the lawsuit because they required Donald Trump to submit yearly financial statements; the state attorney general claims that Trump lied on those statements to exaggerate his wealth and get more favorable loan terms.
The final arrangement for the Deutsche Bank loan required Donald Trump, as the guarantee, to maintain a minimum net worth of $2.5 billion. The bank's first proposal for Trump's loan conditions included a provision that he keep his net worth at $3 billion. Ivanka Trump revealed that during finance discussions with Deutsche Bank, the Trump family communicated their plans to revamp the Doral golf facility in Florida. As reported by CNN, she said, "They [Deutsche Bank] were quite excited about it. They sent teams of people down to tour the property to visit the property and to experience it in advance of our purchase."
🚨🚨CNN legal analyst Norm Eisen on Ivanka Trump's testimony in daddy's fraud trial:— Republicans against Trump (@RpsAgainstTrump) November 9, 2023
"Her testimony hurt her father. She threw him under the bus...
She did not defend these financial statements. She said she didn’t prepare them. She didn’t review them and she didn’t approve… pic.twitter.com/7mDA0sUvwx
In an email Solomon presented in court, Ivanka Trump recommended reducing the net worth limit to $2 billion. In 2011, Trump reported a net worth of $4.2 billion on his statement of financial situation. Because Trump personally guaranteed the loans with the private wealth management firm, he was able to negotiate more favorable conditions for the Doral property loan from Deutsche Bank, which was backed by Trump's financial statements. The commercial real estate division of Deutsche Bank offered the Trump Organization various conditions for the same property.
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