Ivanka Trump to Testify in NY Civil Fraud Trial, Potentially Damaging for Father and Brothers

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ICARO Media Group
Politics
28/10/2023 18h42

Ivanka Trump, the eldest daughter of former President Donald Trump, is set to take the witness stand on Friday as a key witness in the ongoing civil fraud trial against her father and two of her brothers. The trial, valued at $250 million, revolves around allegations of fraud in securing loans for various Trump Organization projects. According to Business Insider, Ivanka's testimony could prove highly damaging for her father and brothers, as it delves into fraudulent practices that allegedly saved the family millions of dollars.

As Donald Trump's top loan negotiator, Ivanka Trump was lauded for her ability to secure incredibly low interest rates on behalf of her father. Lawyers for the New York attorney general's office argue that while these interest-rate savings were impressive, they were attained through fraudulent means. It is alleged that Ivanka turned her father's exaggerated net worth statements into an opportunity for the family business to secure loans.

The Attorney General of New York, Letitia James, seeks to permanently ban Donald Trump, Jr., Eric Trump, and the Trump Organization from conducting any future business in the state through this lawsuit. While Ivanka Trump was initially implicated in the fraudulent practices, she was removed as a defendant on statute of limitation grounds earlier this year.

During the trial, Ivanka is expected to be questioned about her role in using the net worth statements to secure loans from Deutsche Bank, the Trump Organization's largest lender. She will likely face scrutiny over the representations she made to the bank's private wealth management group, which underwrote the loans. In particular, investigators will focus on a negotiated net worth requirement of $3 billion, which Ivanka allegedly tried to lower before settling for $2.5 billion.

Additionally, Ivanka Trump will be asked about her involvement in securing a ground lease from the U.S. government for the Old Post Office property in Washington, D.C. According to allegations, she emphasized her father's net worth in the bid and included his latest net worth statement as part of the proposal.

Furthermore, details about an apartment that Ivanka and her husband, Jared Kushner, rented more than a decade ago in her father's Trump Park Avenue property in Manhattan have come to light. Documents presented in court indicate that while the couple had the option to purchase the unit for $8.5 million, Donald Trump's net worth statements valued the property at $20.8 million during the same timeframe.

Ivanka Trump's testimony is expected to shed light on the deceptive practices allegedly employed by the Trump family in their business dealings. While her testimony has the potential to damage her father and brothers, it remains to be seen how the trial will unfold. Ivanka's brothers, Donald Trump, Jr. and Eric Trump, are scheduled to testify earlier in the week, with their father scheduled to testify on November 6th. A last-minute appeal could potentially delay or cancel the timing of Ivanka's testimony.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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