In a recent civil trial that could have significant implications for the Trump family's business empire, Ivanka Trump, the former executive vice president of the Trump Organization, testified that she played no part in preparing the financial statements under scrutiny.
The New York Attorney General's lawsuit claims that the Trump Organization inflated asset values for years on annual financial statements to secure favorable loans and insurance policies. Ivanka Trump, who has since left the company and served as an advisor to her father during his presidency, denied involvement in the creation of these documents.
In court, Ivanka offered a measured testimony, recalling little to no direct engagement with the valuation data or review process for the financial statements that are central to the allegations. Her statement is part of a series of family testimonies, following her father and brothers, who have each denied substantive knowledge of the particulars of the statements in question.
Ivanka's role in the Trump Organization included significant financial transactions, like initiating the Deutsche Bank loan for the Doral golf resort acquisition. Notably, during her testimony, state attorney Louis Solomon brought up emails from 2011 suggesting Ivanka had knowledge of the organization's financial standings being presented to lenders. In response, her legal team disputed the emails' relevance, with some objections regarding their authenticity briefly raised.
Despite her removal as a defendant, the AG's office maintained that her testimony was pertinent given her former position and ongoing financial ties to the Trump Organization, which has continued to manage various aspects of her professional and personal finances.
The case's outcome could carry major consequences for the Trump family, with AG Letitia James seeking substantial penalties and a potential business ban in New York for the former president. Donald Trump, who has announced his candidacy for the 2024 presidential race, has labeled the case as politically motivated and a "disgrace."
Ivanka Trump's testimony has concluded her role in a pivotal juncture of the trial, as the court proceeds to deliberate on the allegations of conspiracy, insurance fraud, and falsifying business records. Judge Arthur Engoron's prior ruling found Donald Trump culpable of fraud, a decision still being contested in appeals.
The trial continues to unfold, with the Trump family defending their business practices amidst the AG's vigorous pursuit of alleged long-term fraudulent activities.
