NY - $250m fraud against Former President Donald Trump, Trump Org., Eric, Donald Jr., Sept 2022, Trial 2 Oct 2023

[Inthedetails]

Lisa Rubin

@lawofruby

So yes, some of this testimony — about capitalization rates and comps — is jargon-filled and not always sexy on the surface. But McConney is beginning to show why despite Chris Kise’s clever framing, the Trump Org.‘s valuation of its assets reflected knowing, intentional fraud. 9/

It’s one thing to say accounting standards are elastic or that real estate valuations are inherently flexible. But it’s another thing to lie or conceal, and with or without the fanfare accompanying the lead defendant’s attendance, that fraud is being unpacked in a downtown courtroom. I’ll be back there today. FIN




6:59 AM · Oct 6, 2023

https://twitter.com/x/status/1710248464146157965

 

[Inthedetails]

I still think he would give it a good go.

I totally agree. It's not as if he follows rules or the law. imo

jmo

 

[Inthedetails]

Lisa Rubin

@lawofruby

The Trump defendants contend it was the accountants’ job to familiarize themselves with the valuation methods used to assess any asset and that Trump’s employees openly disclosed those methods through spreadsheets provided each year. 5/

Not only does that misstate the accountant’s responsibilities under accounting industry standards and their written agreements with the Trump Org., but it also ignores the fact that the information provided by Trump’s team was deceptive. 6/

https://twitter.com/x/status/1710241266951135632

 

[sds71]

https://twitter.com/x/status/1710278079375949856

 

[tlcya]

Former Trump Organization controller Jeffrey McConney, a defendant in the case, is scheduled to return to the witness stand this morning for a half-day session of court.

Prosecutors are expected to continue to probe the Trump Organization's internal procedures that resulted in the inflated values on Trump's financial statements, including how the former president's own Trump Tower penthouse grew in listed value from $80 million in 2011 to $327 million in 2016.
[snip]
McConney also appeared to struggled to explain why he used asking prices, rather than the accepted practice of using sale prices, when valuing the penthouse.

The exchange prompted New York AG special counsel Andrew Amer to confront McConney with his testimony during a previous investigative interview, in which McConney said asking prices were a poor measure of value since "you can ask anything you want to."
Trump fraud trial live updates: Trump Organization controller to resume testimony

 

[Inthedetails]

Former Trump Organization controller Jeffrey McConney, a defendant in the case, is scheduled to return to the witness stand this morning for a half-day session of court.

Reminder: no court on Monday because it's a federal holiday.

 

[JerseyGirl]

Trump fraud trial live updates: Day 5 kicks off with ex-Trump executive's testimony

Friday is the fifth day of former President Donald Trump's civil fraud trial in New York.

www.nbcnews.com

McConney will be back on the stand today followed by Allen Weisselberg on Tuesday after a holiday break Monday. After that, we'll hear from Nick Haigh, a risk manager with Deutsche Bank who has been traveling overseas, and possibly more from Weisselberg.

Then comes Patrick Birney of the Trump Organization, and possibly Michael Cohen by the end of next week.

 

[JerseyGirl]

Trump fraud trial live updates: Day 5 kicks off with ex-Trump executive's testimony

Friday is the fifth day of former President Donald Trump's civil fraud trial in New York.

www.nbcnews.com

Trump’s lawyers said they plan to take action today against Engoron's summary judgment last week.

They said they plan to file a stay pending appeal before the First Department of the Appellate Division. In court yesterday, they refused to reveal the scope of the requested stay.

Engoron's ruling found that Trump and his companies had committed repeated fraud, and canceled business certificates for LLCs “controlled or beneficially owned” by Trump, his sons Don Jr. and Eric, and two Trump Organization executives.

 

[tlcya]

McConney is discussing the Trump Organization's relationship with Vornado, the real estate company. Trump lawyer Alina Habba objects to the questioning, which she says is leading.

Andrew Amer, a lawyer for the attorney general's office, calls McConney a hostile witness. Habba says he is not a hostile witness and Engoron wryly says, "he is the defendant." The objection is overruled.
Trump fraud trial live updates: Day 5 kicks off with ex-Trump executive's testimony

 

[sds71]

https://twitter.com/x/status/1710304838293057714

 

[Herat]

https://twitter.com/x/status/1710304838293057714

Just another version of "I'm a Victim"

Trump is pretending to be a poor widow in a old worn house about to be evicted by an evil Snidely Whiplash judge.

(small violins playing in the background)

 

[JerseyGirl]

Judge Tries to Stop Trump From Hiding His Money

Mike Segar/ReutersThe judge who doomed Donald Trump’s family business last week took an aggressive and preemptive step on Wednesday to ensure the former president can't secretly shift assets to salvage his real estate empire.In an order that was posted on the fourth day of the former president’s...

news.yahoo.com

In an order that was posted on the fourth day of the former president’s bank fraud trial, Justice Arthur F. Engoron commanded that the Trumps identify any corporations they have—and come clean about any plans to move around money in an attempt to hide or keep their wealth.

Trump, sons Don Jr. and Eric, and two other top executives were ordered to tell the court about “any other entity [that] is controlled or beneficially owned” by them, “any creation of a new entity to hold or acquire the assets,” and “any anticipated transfer of assets.”

The judge also empowered a court-appointed monitor currently babysitting the Trump Organization, a former federal judge named Barbara Jones, to manage this phase until someone can be appointed to disintegrate Trump’s companies.

 

[sds71]

https://twitter.com/x/status/1710314058019168473

 

[JerseyGirl]

Just another version of "I'm a Victim"

Trump is pretending to be a poor widow in a old worn house about to be evicted by an evil Snidely Whiplash judge.

(small violins playing in the background)

Hahah. When I read that I couldn’t help remember this:

https://ij.org/wp-content/uploads/2015/04/The_New_York_Times_7-21-98.pdf

 

[Herat]

Hahah. When I read that I couldn’t help remember this:

https://ij.org/wp-content/uploads/2015/04/The_New_York_Times_7-21-98.pdf

Oh yes, I remember that, too!

He's never been a class act, always a short-fingered vulgarian.

 

[tlcya]

Just another version of "I'm a Victim"

Trump is pretending to be a poor widow in a old worn house about to be evicted by an evil Snidely Whiplash judge.

(small violins playing in the background)

and his sudden concern for 100s of employees is akin to Helen Lovejoy's "Think of the Children!" on the Simpsons

Because tRump has long been the champion of the working man, hence his long history of paying for services rendered. oh wait . .

USA TODAY exclusive: Hundreds allege Donald Trump doesn’t pay his bills​

 

[tlcya]

Amer goes in for the kill, asking whether Weisselberg asked McConney on more than one occasion to assist him in committing tax fraud, McConney says yes.

McConney also admitted he was directed by Weisselberg to process a payroll check to Weisselberg’s wife, who was not an employee, so she could qualify for Social Security benefits.

But he says he did not know it was illegal, prompting Amer — who is ready — to show McConney his trial testimony from the Weisselberg/Trump Org. criminal trial last year, where he acknowledged he knew it was not lawful.

McConney said he kept engaging in this illegal conduct because Weisselberg was his boss and if he refused, he would probably have lost his job. And with that, we are not only breaking for the day but McConney’s questioning is finished in dramatic fashion.
Trump fraud trial live updates: Day 5 kicks off with ex-Trump executive's testimony

More at link about McConney's testimony. They cornered him, his own previous testimony proved his undoing today.

 

[tlcya]

The court is adjourned. Monday is Columbus Day, meaning the next day of the trial will be on Tuesday.

It also appears that the defense does not plan to cross-examine McConney, so the AG will put Weisselberg on the stand Tuesday morning.
Trump fraud trial live updates: Day 5 kicks off with ex-Trump executive's testimony

Interesting decision, no cross. I think they are too scared of what doors it might open.

 

[Herat]

Amer goes in for the kill, asking whether Weisselberg asked McConney on more than one occasion to assist him in committing tax fraud, McConney says yes.

McConney also admitted he was directed by Weisselberg to process a payroll check to Weisselberg’s wife, who was not an employee, so she could qualify for Social Security benefits.

But he says he did not know it was illegal, prompting Amer — who is ready — to show McConney his trial testimony from the Weisselberg/Trump Org. criminal trial last year, where he acknowledged he knew it was not lawful.

McConney said he kept engaging in this illegal conduct because Weisselberg was his boss and if he refused, he would probably have lost his job. And with that, we are not only breaking for the day but McConney’s questioning is finished in dramatic fashion.
Trump fraud trial live updates: Day 5 kicks off with ex-Trump executive's testimony

More at link about McConney's testimony. They cornered him, his own previous testimony proved his undoing today.

How much of a lying fraud do you have to be, as a highly-paid CPA, to fake a payroll so your wife can qualify for Social Security?

Would be nice if Weisselberg could be prosecuted for fraud against the SS Agency, too.

 

[sds71]

https://twitter.com/x/status/1710345436983095326