Ivanka Trump testifies in father’s fraud trial

The civil fraud trial of former president Donald Trump and his two sons, Donald Jr. and Eric, has entered its final phase, with the testimony of Ivanka Trump, the former president’s daughter and former executive vice president of the Trump Organization.

Ivanka Trump, who is not a defendant in the case, took the stand on Wednesday as the last witness for the state attorney general’s legal team, led by Letitia James. She was questioned about the valuation of her apartment at Trump Park Avenue, as well as other financial transactions involving Trump properties such as Trump Tower, Trump International Hotel and Tower Chicago, and Seven Springs Estate.

The lawsuit, filed by James in August 2020, alleges that the Trump Organization and its top executives engaged in a decade-long scheme to inflate or deflate the value of their assets in order to obtain favorable business, insurance and banking deals. The lawsuit seeks to recover millions of dollars in unpaid taxes, penalties and interest from the defendants.

Ivanka Trump’s testimony came after her father and brothers denied any wrongdoing and blamed others for the preparation of the financial statements that are at the center of the dispute. The former president, who testified for two days last week, claimed that he provided information to the accounting firm Mazars, which compiled the statements, and that he relied on their expertise. He also accused James of being a “political hack” and the trial of being unfair.

Eric Trump and Donald Trump Jr., who are both executive vice presidents of the Trump Organization, also testified that they had little or no involvement in the statements of financial condition and that they trusted others, such as co-defendant and former chief financial officer Allen Wesselberg, to ensure their accuracy.

However, the court was shown evidence that contradicted their claims, such as email correspondence, deposition transcripts and internal documents that showed that they had reviewed and approved the statements and the valuations of the properties.

Ivanka Trump’s attorney, Abbe Lowell, argued that she was not liable for any fraud because any actions she took at the Trump Organization occurred before the statute of limitations kicked in. He also said that she did not personally benefit from the inflated financial statements, as she paid fair market value for her apartment.

James, however, contended that Ivanka Trump was part of the fraud scheme and that she profited from it, even after she left the Trump Organization in 2017 to join her father’s administration as a senior adviser. She said that Ivanka Trump’s apartment was overvalued by more than $3 million and that she received tax benefits from it.

The trial, which began on November 1, is expected to conclude by mid-December, after the defense team presents its case. Judge Arthur Engoron, who has already ruled that the former president is liable for fraud, will decide the amount of damages and penalties to be imposed on the defendants.