In New York court, the Trump clan’s financial gimmicks on trial

Ivanka Trump was the last of the family to be called to the bar in New York court. Unlike her father Donald and her brothers Donald Jr. and Eric Trump, she is not being prosecuted in this civil trial, her last involvement in managing the empire dating back to 2017 and the facts being considered time-barred. Ivanka Trump, 42, chose her own lawyers and has distanced herself from her father since the Capitol insurrection on January 6, 2021. But her testimony, Wednesday, November 8, was highly anticipated in this trial in which Donald Trump is accused of having artificially inflated his assets to obtain considerable loans from his bankers, notably Deutsche Bank, at advantageous rates.

Like her siblings before her, Ivanka Trump, who was the organization’s executive vice president before becoming an unpaid White House counselor in January 2017, ruled it out. “I’m not involved. (O) personal financial statements » of Donald Trump, she said. However, her answers and the documents presented to her show that she was aware of the importance of her father’s asset declarations in obtaining the best financial conditions.

This Wednesday, for example, the court analyzed the purchase of a luxurious golf course in Miami, the Doral Golf Club, which went bankrupt in 2011. “He was in very bad shape.Ivanka Trump told the judge. We invest a huge amount of money in asset repositioning. » To buy back, Donald Trump needed a loan of 125 million dollars (116.8 million euros). Deutsche Bank demanded a personal guarantee from Donald Trump, who was believed to have a personal fortune of $2.5 billion and $50 million in cash.

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Emails revealed that Ivanka Trump had proposed in a previous exchange to reduce the fortune needed for Donald Trump from $3 billion to $2 billion. It was she, along with her husband, Jared Kushner, who put her father in touch with the wealth management department at Deutsche Bank. In another email, she welcomes negotiations with the financial institution. “It doesn’t get any better than this.” Let’s discuss this as soon as possible”she stated about a loan obtained for Doral Golf in an internal email to the Trump Organization presented by the prosecution.

In the statement, Ivanka Trump declared that she did not have an accurate memory of the various correspondences. Trump was supposed to report his wealth every year and, according to prosecutors, he presented falsified accounts in 2014 and 2015. The prosecution gave the example of one of his triplexes in New York, whose value increased from 80 million to 327 million dollars between 2011 and 2015, while its announced surface tripled in relation to reality.

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