4:30 p.m. ET, November 8, 2023
Ivanka Trump Testimony Highlights
Ivanka Trump’s lengthy questioning in her father’s civil fraud trial shed light on her role at the Trump Organization and involvement in leasing an apartment in one of her father’s buildings.
Although no longer a defendant, she is the last witness called by the New York attorney general’s office in the case against Trump, his sons, and his business.
The trial is currently on a lunch break.
Here are some key points from her testimony:
Deutsche Bank Loans: Ivanka was extensively questioned about the financing of loans for the Doral Golf Resort & Spa in Florida through Deutsche Bank, which plays a crucial part in the case. The attorney general alleges that financial statements were falsified to inflate Trump’s net worth and secure better loan rates.
In this court sketch, Louis Solomon, a lawyer for the attorney general’s office, questions Ivanka Trump on the witness stand during Wednesday’s proceedings.
Jane Rosenberg/Reuters
AG attorney Louis Solomon presented email communications regarding financing terms for the Doral property, emphasizing Donald Trump’s financial statements were shared with potential lenders.
Ivanka Trump proposed lowering the required net worth for her father under the loan agreement with Deutsche Bank, showing changes in email exchanges presented in court by Solomon.
The final agreement for the Deutsche Bank loan required Donald Trump to maintain a minimum net worth of $2.5 billion.
One bank draft proposed a $3 billion net worth requirement, which Ivanka Trump suggested lowering to $2 billion in an email shown in court.
Penthouse Apartment: Ivanka distanced herself from any knowledge of a discrepancy in the value of a penthouse apartment she leased in Trump Park Avenue.
Ivanka Trump had a purchase option on the apartment for $8.5 million, but the value on Trump’s financial statement was $20.8 million, according to the attorney general’s civil complaint.
Solomon asked whether the value of her purchase option was factored into her father’s financial statement.
“As I had told you a year-and-a-half ago, I wasn’t involved in his statement of financial condition, so I can’t say what it took into account or didn’t take into account,” she responded.
Old Post Office Project: Ivanka acknowledged that the General Services Administration sought clarification on financial statements submitted with a bid for the lease on the Old Post Office in Washington.
Ivanka Trump recalled making a presentation to GSA on Trump Org. proposal for the building and confirmed that she and her father both spoke at the presentation meeting with GSA officials.
“Do you recall that meeting discussing Donald J. Trump financial statements in any way shape or form?” Solomon asked.
“No I don’t recall that,” she said.
Ivanka Trump recalled that the December 2011 meeting was a big-picture presentation “bringing the project to life,” but denied discussing financial statements.
