Key Points
- Eric Trump and Donald Trump Jr have both testified in a New York court in their father’s fraud trial.
- Former US President Donald Trump has already been found to have fraudulently inflated asset values.
- The trial largely concerns damages. Trump himself will testify on Monday.
In back-to-back appearances in a New York courtroom on Thursday local time, Trump’s adult sons both said they were not involved in the questionable valuations that now threaten to hobble the real estate empire that vaulted Trump to prominence. Trump put the two in charge of the business while he served as US president from 2017 to 2021.
What is the case about?
Trump has denied wrongdoing and has kept up a steady stream of attacks against Engoron and New York Attorney-General Letitia James, who has brought the case.
Former President Donald Trump stands to lose a large amount of his financial assets if found guilty for fraud, in a case that started on Monday in New York. Source: SIPA USA / Sipa USA
“So sad to see my sons being PERSECUTED in a political Witch Hunt,” he wrote on social media.
James is seeking at least US$250 million ($A389 million) in damages, as well as a permanent ban on Trump, Donald Jr and Eric from running businesses in the state.
Engoron has ordered the dissolution of companies that control pillars of Trump’s real estate portfolio, including Trump Tower. That ruling is on hold while Trump appeals.
What did Eric Trump say?
However, he grew frustrated as state lawyer Andrew Amer presented emails, video calls and other evidence that showed him discussing financial estimates of some of the company’s trophy properties, including changes to the valuation methodology for a golf course. He said he did not remember many of those communications.
Eric Trump says he had no knowledge about alleged fraudulent activity in the family business. Trump’s former lawyer and fixer Michael Cohen has testified Trump directed them to exaggerate the value of assets like Trump Tower in Manhattan in order to win better financing terms and bolster his reported net worth.
What did Donald Trump Jr say?
Donald Jr blamed accountants, both inside and outside the company.
Evidence submitted at trial shows both sons signed statements certifying they had provided accurate information to Mazars, the outside accounting firm that prepared the financial statements.
What happens next?
The trial is one of many legal troubles Trump must contend with as he campaigns to regain the presidency. He faces 91 felony charges in four separate criminal prosecutions, including two cases stemming from his attempts to overturn his 2020 election defeat.
He is also under a limited gag order for the federal election subversion trial in Washington. Trump has alleged that both violate his right to free speech.