The clerk appeared to be annoyed by delays caused by Trump’s holding court in the hallway during breaks. James is also in the courtroom after she missed the last several days of testimony. Friends of Engoron’s clerk are in attendance, as are friends of the prosecutors. Trump’s presence Tuesday has shaken up the dynamic of the trial, with increased security inside and outside the courthouse already in place before his arrival. Trump attended the first three days of his fraud trial in New York, which began Oct. The company relented after he issued a $10,000-a-day fine. Trump lawyer Alina Habba said that banks often appraise properties at lower amounts than property owners and that there was nothing nefarious about the Trump figure.Įngoron held Cushman & Wakefield in contempt last year after it failed to turn over appraisal documents the state attorney general's office had subpoenaed. He called the use of his work without his knowledge “inappropriate” and said the information used in the financial statements was “inaccurate.” Trump's company also said it had consulted with Larson about the valuations, which Larson said didn’t happen. In one year, Cushman appraised the property at $540 million, while the Trump Organization appraised it at $735 million, court documents show. Trump Organization officials cited the appraisals in their financial statements but used a lower cap rate to claim the properties were more valuable than Cushman had estimated. in Manhattan and other Trump properties that were undertaken on behalf of Trump’s lenders. He was asked about the company's appraisals of a building Trump owns at 40 Wall St. He described it as going "from one pocket to another," Kidder said.Īlso testifying was Doug Larson, a former executive at the commercial real estate firm Cushman & Wakefield. She recounted a conversation with the company's former chief financial officer Allen Weisselberg in 2012, when, she said, he told her to omit the company's management charges at one property on a cash flow report to increase the overall value of the property. In a ruling last month allowing the trial to proceed, Engoron found Trump had engaged in "persistent fraud." James has accused Trump of having exaggerated his net worth to the tune of billions of dollars. Cohen at the time told lawmakers that Trump had inflated the value of his assets to secure loans and that he also deflated them for tax purposes. James, who brought the case against Trump, has c ited Cohen's 2019 congressional testimony about Trump as having sparked the investigation that led to her fraud suit. When I do testify, I am certain Donald will be in attendance, sitting with his lawyers at the defendant’s table." "I anticipate appearing as soon as the pain subsides. “I am thankful the medical condition, while incredibly painful, does not require an immediate procedure," he said. Looking forward to seeing you in court very soon!”Ĭohen said in a statement Monday that he'll be ready for Trump whenever he testifies. Trump complained to reporters during the lunch break Tuesday that "Cohen didn't have the guts" to appear.Ĭohen said in a statement that "if I was afraid of Donald, I wouldn't have written 2 NYT bestsellers, testified before the Mueller team, seven congressional committees, 23 appearances before the Manhattan DA, and provided information to the NYAG that is the basis of this trial. Judge Arthur Engoron said Monday that Cohen's testimony would be delayed for at least a week. ![]() But Cohen said Friday he was dealing with a health issue and wouldn't be in court that day as planned. Sources had said last week that Trump planned to watch testimony from his former lawyer-turned-foe Michael Cohen that was originally scheduled for Tuesday. "The house is worth a billion, a billion and a half, 750 million it’s worth a fortune,” he said, calling it "the most expensive house probably in the world." James valued Mar-a-Lago at $18 million when it is “worth maybe close to 100 times that amount,” Trump said. He then showed how fungible he considers those values to be. Trump's financial statements valued the property at $400 million to $600 million. Trump said Tuesday that James and her office are "the frauds" and again complained about her having cited the Palm Beach County, Florida, tax assessor appraisal of the value of his Mar-a-Lago club at $18 million to $27 million from 2011 to 2021 as proof of fraud. ![]() James has accused Trump of having wildly exaggerated his net worth on financial statements to banks and insurance companies.
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