Eric Trump, the son of former US President Donald Trump, appeared in court in New York on Thursday in his father’s fraud case. He initially stated that he knew nothing about his father’s finances, but later had to correct that statement.
The civil proceedings determine the fines that Trump and his family business The Trump Organization must pay for misleading banks and insurers. A judge in New York previously ruled that the former president greatly exaggerated the value of his assets and the amount of his wealth on paper, resulting in his company and himself receiving favorable tax rates, low insurance premiums and loans on favorable terms.
Eric Trump was scheduled to testify in the case on Thursday. According to the New York State Attorney General, the second of Trump’s three sons was responsible for overseeing “all aspects of management and governance” within the Trump Organization and was therefore aware of the inflated valuations of the holding company’s assets . However, Eric Trump denied in court on Thursday that he had ever been involved in business deals that inflated the value of his father’s empire. “I am not aware of the statements regarding the financial condition,” he testified. “I didn’t know about anything until this thing got off the ground.”
Sarcastic
However, Trump’s son soon had to change that statement when prosecutors unearthed emails showing that a then-employee had informed Eric Trump of the valuation of Seven Springs, an estate in Westchester where he lived for a while. his wife.
Trump did not deny the authenticity of that correspondence. “We are a big organization, a huge real estate organization,” he said. “Yes, I’m pretty sure we have financial statements. Absolutely,” he sounded somewhat sarcastic. He indicated he did not know what Seven Springs’ valuation was used for.
Trump’s eldest son Donald Junior previously appeared in court in the case. He accused the Trump Organization’s accountants of making mistakes. Later, Trump’s daughter Ivanka will also have to take a seat on the witness stand.
The prosecutor in New York is demanding that Trump be fined approximately 250 million dollars (236 million euros). The trial may last until December 22.
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