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CNN —The former controller of the Trump Organization says that Eric Trump directed him to make certain decisions that led to the inflated valuations of several Trump properties. Jeff McConney, also a co-defendant of former President Donald Trump, Eric Trump and Donald Trump Jr., testified Friday as the first week of the civil fraud trial came to an end. (Attorneys for Eric Trump have argued he was not aware that any phone conversations with McConney were used to formulate value assets in the financial statements for Trump properties.) McConney testified that he did not know at the time that Trump had deeded away his right to develop the property beyond its use as a social club in 2005. He said he did this at the direction of Eric Trump, who oversaw the project.

Persons: Eric Trump, Jeff McConney, Donald Trump, Donald Trump Jr, McConney, Arthur Engoron’s, “, ” Trump, Christopher Kise, Allen Weisselberg, Andrew Amer, Trump, Weisselberg, Amer, ” McConney, Briarcliff, he’d Organizations: CNN, Trump Organization, Trump, Internal Trump Org, New, Trump National Golf Club Westchester Locations: New York, Seven, Trump, Springs, Briarcliff , New York

☆ Real estate insiders question how Trump fraud judge valued Mar-a-Lago
▼ + stars: | 2023-10-03 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN Business —A New York judge ruled last week that former President Donald Trump inflated the value of his Mar-a-Lago estate by an eye-popping 2,300%. But the Mar-a-Lago finding in particular is raising eyebrows among real estate and legal experts because of the metric Judge Engoron relied on: the county tax assessor’s appraisal value. It’s a well-known fact,” said Eli Beracha, chair of the school of real estate at Florida International University. “A discrepancy of this order of magnitude, by a real estate developer sizing up his own living space of decades, can only be considered fraud,” Engoron wrote. Cintron, the Harrington Ocko & Monk partner, doesn’t think the Mar-a-Lago valuation controversy moves the needle on the question of whether Trump committed fraud.

Persons: Donald Trump, Trump, Arthur Engoron, Engoron, ” Engoron, ”, Eli Beracha, “, ” Dina Goldentayer, Douglas Elliman, ” Goldentayer, Goldentayer, Zillow, ” It’s, Jonathan Miller, Miller Samuel, ” Miller, Melissa Cintron, Harrington Ocko, Monk, it’s “, Miller, Christopher Kise, ” Trump, Letitia James, Cintron, Harrington, doesn’t, he’s, ” Cintron, CNN’s Anna Bahney Organizations: New York CNN Business, Trump, Florida International University, Miller Samuel Inc, Harrington, Mar, realtors, South, New York Locations: York, Beach, South Florida, New York City, “, Springs, Westchester County , NY, Aberdeen, Scotland, Trump

☆ Trump's NY fraud trial starts today. Here's why it matters, even though the judge already found fraud.
▼ + stars: | 2023-10-02 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

New York's massive, $250 million fraud lawsuit against Donald Trump and Trump Org goes to trial Monday. Some weeks later, Eric Trump, Donald Trump, Jr., and Donald J. Trump must take the stand, in that order, and in post positions 25-27 out of the AG's total of 28 direct-case witnesses. But one thing that was clear about the decision is that fraud – lots of it – was found on the part of Donald Trump. Donald Trump Jr., left, and Eric Trump. She wants the judge to permanently ban not just Trump but Eric Trump and Donald Trump, Jr. from ever serving as an officer or director of any New York corporation.

Persons: Donald Trump, Trump, —, Donald Trump's, Christopher Kise, Kise, Letitia James, Ivanka Trump, Eric Trump, Donald Trump , Jr, Donald J, Arthur Engoron, –, Donald Trump ., Jeffrey McConney, Allen Weisselberg, Donald Trump Jr, Chip Somodevilla, James, Weisselberg, McConney, Kevin Wallace, Engoron Organizations: Trump Org, Service, Trump Organization, New York, Trump, New, Trump Revocable Locations: Manhattan, Springs, New York's Westchester County, York, New York

CNN —A New York judge has found Donald Trump and his adult sons liable for fraud, saying the Trumps provided false financial statements for roughly a decade. Judge Arthur Engoron’s ruling came days before the civil case involving the New York attorney general’s office and the former president was set to go to trial. Engoron granted Attorney General Letitia James’ motion for summary judgment, finding Trump, his sons, and others “to be liable as a matter of law for persistent violations” of New York state law. He found the financial statements the Trumps provided to lenders and insurers for about a decade to be false and said they repeatedly engaged in fraud. In the order, the judge rejected Trump’s deposition testimony in which the former president said that the financial statements were not fraudulent because they contained disclaimers.

Persons: Donald Trump, Judge Arthur Engoron’s, Engoron, Letitia James ’, Trump, ” Engoron, “, Chico Marx, Christopher Kise, ”, Eric Trump, ” James, Trump’s, James Organizations: CNN, New, Trump, “ Locations: York, New York, Mar, Seven Springs, Trump, Chico

Judge Arthur Engoron in his bombshell decision also canceled the New York business certificates of Trump, the Trump Organization, and the other defendants, including two of his sons, in a lawsuit by the state Attorney General's Office. The defendants in the case include Trump, his sons Donald Trump Jr. and Eric Trump, former Trump Organization Chief Financial Officer Allen Weisselberg, company executive Jeff McConney, and Trump Organization entities. Engoron also ordered sanctions of $7,500 for five attorneys who represented the Trump defendants for making frivolous and previously rejected arguments in court filings. In the fourth criminal case, Trump is charged with falsifying business records related to a 2016 hush money payment to porn star Stormy Daniels. Even after Engoron appointed an independent financial monitor for the Trump Organization last year, "defendants have continued to disseminate false and misleading information while conducting business," the judge wrote.

Persons: Donald Trump, Arthur Engoron, Letitia James, Chris Kise, Trump, Kise, Engoron, James, Donald Trump Jr, Eric Trump, Allen Weisselberg, Jeff McConney, Stormy Daniels, Engoron's, Trump's, Alina Habba, Habba Organizations: Team Trump Iowa, Jackson, Fairgrounds, New, Trump, Trump Organization, General's, NYU Stern School of Business, Engoron, Federal Locations: Maquoketa , Iowa, New York, United States, Lago, Florida, Palm Beach Florida, Palm Beach, New York City, Springs, Westchester County , New York, Aberdeen, Scotland, American, New York State

☆ Donald in Wonderland: lawyers for New York and Trump trade 'looking glass' jabs ahead of business-fraud trial
▼ + stars: | 2023-09-22 | by ( Laura Italiano | ) www.businessinsider.com time to read: +6 min

Lawyers for New York's attorney general and Donald Trump sparred in a Manhattan courtroom Friday. AdvertisementAdvertisement"The defendants have clearly stepped through the looking glass," Amer told the judge, New York Supreme Court Justice Arthur Engoron. AdvertisementAdvertisement"We're through the looking glass here, too," Kise, who Trump has paid a $3 million retainer, promised the judge. AdvertisementAdvertisementNew York AG Leticia James' lawsuit against Trump will go to trial in October. AdvertisementAdvertisementShe's also asking the judge to ban Trump and Trump Org for five years from buying real estate in the state.

Persons: Donald Trump sparred, Trump, Donald Trump, Letitia James, Andrew Amer, Amer, Arthur Engoron, James, –, Christopher Kise, Trump's, Kise, general's, I'm, AG Leticia James, YUKI IWAMURA, Mario Tama, He'll, he'll, She's Organizations: New, Service, AG, Trump, Getty, Trump Organization, Trump Org Locations: Manhattan, Wall, Silicon, New York, AFP, Springs, Trump

☆ Trump's Top 5 defenses in his massive NY financial fraud case, in his own words
▼ + stars: | 2023-09-03 | by ( Laura Italiano | ) www.businessinsider.com time to read: +17 min

AdvertisementAdvertisementHere are Trump's top five business fraud defenses – in his own words – as revealed in a recently-unsealed deposition transcript. New York attorney general's officeTrying to pass the blame won't work, two attorneys who used to work for previous New York attorneys general told Insider. And you're suing them instead of going after violent criminals," he scolded the attorney general and her lawyers. Then there's the $250 million Trump allegedly pocketed by lying about the size of his collateral. 3: his math is "worthless"At the center of the attorney general's case are a decade's worth of Trump's Statements of Financial Condition.

Persons: Trump, Donald Trump, Letitia James, James, Andrew S, Amer, Kevin C, Wallace, Brittainy Newman, Eric, I've, Mazars, We're, I'm, general's, Kenneth Foard McCallion, Tristan Snell, –, Susan Watts, they'd, Snell, McCallion, Donald Trump's, Laura Italiano, Kathy Willens, Jennifer S, Altman, Carlo Allegri, John Minchillo, Drew Angerer, George Washington, Jack Nicklaus, Tom Watson, He's Organizations: Trump Org, Service, York, New York State, New York, AP Trump, Trump Organization, New, Trump University, Trump, Deutsche Bank, NY Daily, Getty, Associated Press Deutsche Bank, McCallion, Associates, Washington, MSNBC, Reuters, U.S, Marriott Marquis Locations: NY, Wall, Silicon, Manhattan, New York, Trump's, Trump Tower, Manhattan , NY, . New York, Trump, New York City, Springs, Westchester County , New York, Mount Kisco, N.Y, Washington ,, Miami

☆ Exclusive: Westchester DA shuts down criminal investigation of Trump Organization without any charges
▼ + stars: | 2023-06-14 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +7 min

Westchester's district attorney shut down its criminal investigation into the Trump Organization this month. The district attorney's office in Westchester — a county north of New York City — opened the investigation two years ago. In April, the district attorney brought another set of charges against Trump himself, alleging he broke the law by disguising hush-money payments to Stormy Daniels. Alan Futerfas, an attorney representing the Trump Organization, declined to comment on the closure of the Westchester County investigation. The lawsuit also claims the Trump Organization misrepresented the property value of its 212-acre Seven Springs estate, also in Westchester County.

Persons: Donald Trump, —, Mimi Rocah, Elliott Jacobson, Rocah, New York City —, Donald Trump's, Allen Weisselberg, Trump, Stormy Daniels, Alan Futerfas, Letitia James, Mike Segar, Jack Smith, Fani Willis, who's, Smith, Joe Biden's, Donald J Organizations: Trump Organization, Manhattan DA, NY, Service, Trump National Golf Club Westchester, New York Times, The, New, New York, Trump, REUTERS, Mar, Park Locations: Westchester's, Westchester County, Westchester —, New York City, Ossining, The Manhattan, Manhattan, Westchester, New York, Springs, Miami, Fulton County, Georgia

☆ New York AG will seek sanctions on Trump, lawyers over 'false' court filings in fraud suit
▼ + stars: | 2023-01-31 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Former US President Donald Trump addresses the crowd during a 2024 election campaign event in Columbia, South Carolina, on January 28, 2023. James is suing Trump, the Trump Organization , three of his adult children — Donald Trump Jr., Eric Trump and Ivanka Trump — and others for what she said was widespread fraud involving false financial statements and improper valuation of real estate assets . Trump and the other defendants last week responded to the lawsuit with a court filing that contained so-called verified answers to the allegations. One would be the judge assuming that Trump had effectively admitted the allegations that he and his co-defendants had improperly denied. Wallace pointed to the Trump defendants' denial in James' lawsuit that Trump remained the inactive president of the Trump Organization while serving in the White House.

☆ Woodlands Preservation Emerges as Issue in President Trump’s Personal Income Tax Filings
▼ + stars: | 2022-12-22 | by ( Peter Grant | Joe Palazzolo | ) www.wsj.com time to read: 1 min

A $21.1 million tax deduction involving former President Donald Trump’s Seven Springs estate has become a point of contention in Mr. Trump’s tax returns. In 2015, then-businessman Donald Trump pledged to preserve more than 150 acres of woodland on his Westchester County, N.Y., estate, enabling him to take a big charitable deduction on his federal taxes. That $21.1 million tax deduction involving his Seven Springs estate now has emerged as a point of contention in Mr. Trump’s taxes, according to the House Ways and Means Committee, which voted Tuesday to make six years of his tax returns public.

☆ Meet Donald Trump's children with Ivana Trump, Marla Maples, and Melania Trump
▼ + stars: | 2022-11-09 | by ( Business Insider | Lloyd Lee | ) www.businessinsider.com time to read: +12 min

Donald Trump has five children between two of his former wives and his current wife Melania Trump. Donald Trump Jr., Eric Trump, and Ivanka Trump are children with his first wife, Ivana Trump, who died on July 14. Getty Images/Joe CorriganNow a father of five, Donald Trump Jr. was 12 when Ivana Trump and Donald Trump Sr. divorced. In 2001, a year after he graduated from college, Donald Trump Jr. went to work for his dad for the second time. He told New York magazine that Donald Trump Jr. is like his mentor and Ivanka Trump is like his second mother.

☆ Explainer: What New York's lawsuit means for Trump and his family company
▼ + stars: | 2022-09-21 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

James accused Trump and the Trump Organization of fraudulently misstating the values of numerous properties to obtain favorable loans and tax benefits. The company's portfolio in New York state includes 14 residential properties, three commercial properties and two golf courses as well as Seven Springs, according to its website. James cannot bring criminal charges against Trump in this investigation because her probe was a civil one, not a criminal one. The Trump Organization has separately been charged with criminal tax fraud by the Manhattan District Attorney's office and is preparing for a scheduled Oct. 24 trial. A criminal case requires proof beyond a reasonable doubt, while civil cases require a lower standard of proof.

With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Fragments of Mr. Trump’s tax returns have leaked out before. Mr. Agalarov’s father, Aras, a billionaire who boasts of close ties to Mr. Putin, was Mr. Trump’s partner in the event. Mr. Trump’s avoidance of income taxes is one of the most striking discoveries in his tax returns, especially given the vast wash of income itemized elsewhere in those filings. When they got to line 56, the one for income taxes due, the amount was the same each year: $750.

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