Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Brilliant, brilliance in all its brilliancy and a very stable genius. And now I give you the most persecuted man in human history, the perpetual victim, POOTWH:
Donald Trump
Donald Trump is the beneficial owner of the collection of companies branded as “the Trump
Organization.” TT 3472. From May 1, 1981 through January 19, 2017, he was its Director,
President, and Chairman. TT 3472.
He is also the sole beneficiary of the Donald J. Trump Revocable Trust, under which all Trump
Organization assets are held. TT 3472. After he assumed the presidency in 2017, Donald Trump
appointed Donald Trump, Jr. and Allen Weisselberg as the trustees of the trust. TT 3474. When
he left the White House in 2021, Donald Trump re-appointed himself as the sole trustee of the
trust, stating that “I figured that I would be back in the business world for a little while… So, I
figured that I would be back in business, I might as well be the Trustee.” TT 3475. However, on
July 7, 2021, Donald Trump once again removed himself as trustee, stating that “I think we were
at a position where I was gaining more and more confidence in my family in terms of business.”
PX 1720; TT 3475-3476. He re-appointed Trump, Jr. and Weisselberg as trustees. TT 3476-
3477.
Donald Trump testified that Weisselberg and McConney were responsible for maintaining
complete and accurate books and records of the Trump Organization. TT 3617. Donald Trump
confirmed that Weisselberg and McConney prepared the supporting data on which the SFCs
were based before coming to him for final review. TT 3491.Donald Trump acknowledged that
he reviewed the SFCs each year from 2011 to 2017 before they became final, further adding that
“I would see them. And I would maybe, on occasion, have some suggestions.” TT 3478, 3513.
He recalled that on specific occasions Weisselberg and McConney asked his opinion about the
valuations of 40 Wall Street, Seven Springs, and his limited partnership with Vornado. TT 3495-
3496; 3519-3522; PX 3344.
Donald Trump also acknowledged that, as he certified to Mazars in the Management
Representation Letters, he was responsible for the preparation and fair presentation of financial
statements. PX 730; TT 3481-3482, 3564-3568. He understood that Deutsche Bank would rely
on his certifications to determine if he was complying with his loan covenants. TT 3620-3623,
3630.
Donald Trump insisted that the values within the SFCs were not only not fraudulently inflated, as
this Court has already found, but that, if anything, they were deflated, as the following exchange
with OAG demonstrates:
Q. In light of your expertise in real estate, do you recall ever
thinking that the values were off in your Statements of
Financial Condition?
A. Yeah, on occasion.
Q. What were some of those occasions?
A. Both high and low; both high and low.
Q. Which occasions do you recall?
A. I thought that Mar-a-Lago was very underestimated, but I
didn’t do anything about it. I just left it be. It didn’t matter,
I didn’t care, because the numbers you are talking about here
is, you know, they are very big numbers, very, very big. Far
bigger – the values are far bigger than what is on the
financial statement. I thought Mar-a-Lago was
underestimated. I thought 40 Wall Street was very
underestimated because that building has tremendous value.
I thought that there were numerous other things. I thought
Doral was very underestimated. I thought it was
considerably more valuable. Not necessarily [its] golf
courses, but it is right in the middle of Miami, right next to
the airport. I would say you could build thousands of units
and hotels on the site. So you don’t look at it as a golf course.
It is a great golf course, very successful, four of them, four
courses. One was sold. It was five. One was sold that was
a little disconnected, and [I] sold it. But I thought Doral was
very underestimated.
…
Q. [I]f anything, do you think the statement undervalued your
assets; is that correct?
A. Yes, by a lot. The financial statements.
TT 3487-3488, 3495.
When asked about his limited partnership interest in Vornado, and specifically, whether he had
control over the assets, Donald Trump equivocated several times, extolling the virtues of his
limited partnership, before ultimately conceding: “In the true sense, no.” TT 3518-3519.
When examined about the valuation of Mar-a-Lago, Donald Trump did not recall having any
specific conversations with Weisselberg or McConney about valuing it as a private residence,
although he conceded that it was valued on the SFCs as if it could be sold as a private residence. TT 3527-3530. When confronted with the 2002 deed18 in which he signed away, in perpetuity,
the right to use or develop Mar-a-Lago as anything other than as a social club, in exchange for a
conservation easement tax benefit, he offered that “when you say, ‘intend,’ intend doesn’t mean
we will do it.” PX 1730; TT 3533-3535.
Nonetheless, Donald Trump insisted that he believed Mar-a-Lago is worth “between a billion
and a billion five” today, which would require not only valuing it as a private residence, which
the deed prohibits,19 but as more than the most expensive private residence listed in the country
by approximately 400%.
20
TT 3530.
When questioned about Aberdeen, and whether he was aware that the SFCs for 2014-2018
valued the property as if the Trump Organization could build 2500 year-round private residences
(when in fact, they had received permission to build only 500), Donald Trump testified: “I don’t
know, but it could very well be. It’s sort of like a painting. You could do pretty much what you
want to do. The land is there. You could do what you want to do. So you could do either one of
them, actually.” TT 3539-3547. When confronted with evidence that, in 2014, the Trump
Organization had submitted a statement to UK regulators stating that the Trump Organization did
not intend to develop the Aberdeen property any further because of Donald Trump’s opposition
to wind farms, Trump testified: “At some point that will be developed into a magnificent job. I
just don’t want to do it now.” TT 3547-3549.
Notwithstanding the foregoing, the 2014-2018 SFCs valued Aberdeen not only as if Donald
Trump had permission to develop 2500 private year-round residences, which he did not, but also
as if those residences had already been built, and the SFCs and supporting data failed to account
for any development costs associated with making the hypothetical residences a reality. PX 719,
731, 742, 758, 774.
When questioned about whether he had ever inflated the value of 40 Wall Street, Donald Trump
was confronted with a Forbes article, including a published audio recording, dated September 21,
2022, that reported that Trump had told Forbes in 2015 that 40 Wall Street was 72 stories tall,
when in fact, it is only 63, resulting in an overvaluation of $50 million. The article also reported
that Donald Trump told Forbes that 40 Wall Street had a net operating income of $64 million in
2015, when in fact, the building ran a deficit21 of more than $8.7 million for the 12-month period
ending on March 31, 2015. TT 3568-3576; PX 652, 636. When asked if he was misquoted in
the Forbes article, Donald Trump replied “I don’t know. I don’t know what I said.” TT 3571.
When asked if he still approved of the work that McConney and Weisselberg did in preparing the
SFCs from 2011-2017, Donald Trump testified: “As far as I know I do. You haven’t shown me
anything that would change my mind.” TT 3551.
Donald Trump stated he was not involved in the preparation of the 2021 SFC, and that it would
have been prepared by Weisselberg, McConney, Trump, Jr., and Eric Trump. TT 3523.
Donald Trump was aware that receiving loans from the Deutsche Bank Private Wealth
Management Division required him: to provide a personal guarantee; to maintain a minimum net
worth of $2.5 billion; to maintain unencumbered liquidity of $50 million at all times; and to
submit annual SFCs to Deutsche Bank, so that Deutsche Bank could test his compliance with the
loan covenants. TT 3586-3601, 3604-3614; PX 426, 312, 307, 1844, 309, 394, 503.
When Donald Trump sold the Old Post Office hotel, he paid off the Deutsche Bank loan, and the
following profits were distributed: $126,828,600 to Donald Trump; $4,013,024 to Eric Trump;
$4,013,024 to Donald Trump, Jr., and $4,013,024 to Ivanka Trump. PX 1373, TT 3624-3626.
When questioned about Weisselberg’s guilty plea to tax fraud in connection with his
employment at the Trump Organization, Donald Trump challenged that Weisselberg had
committed any wrongdoing (to which Weisselberg admitted), saying “I mean is there something
wrong… I mean IBM executives get apartments that are compensated by IBM. And lots of other
companies do. But people that work for me can’t be so compensated? I don’t know, I don’t
think that’s a big thing. Is it?”22
TT 3632-3634.
Overall, Donald Trump rarely responded to the questions asked, and he frequently interjected
long, irrelevant speeches on issues far beyond the scope of the trial. His refusal to answer the
questions directly, or in some cases, at all, severely compromised his credibility.
Footnotes:
18 See further discussion of Mar-a-Lago infra.
19 A fact of which he is well aware, having signed the deed himself.
20 According to a CNBC report, as of January 7, 2022, the most expensive private family residence listing
in the United States was $295 million, for a newly developed 105,000 square foot mega-mansion in Los
Angeles, California. https://www.cnbc.com/2022/01/07/most-expensive-home-in-america-lists-for-295-
million-may-head-to-auction.html.
21 40 Wall Street also ran net operating deficits in 2013 and 2012 ranging from -$7.3 million to -$20.9
million. TT 3577-3579.
Statement by Donald J. Trump, 45th President of the United States of America:
“This is Political Persecution and Election Interference at the highest level in history. From the time I came down the golden escalator at Trump Tower, and even before I was sworn in as your President of the United States, the Radical Left Democrats - the enemy of the hard-working men and women of this Country - have been engaged in a Witch-Hunt to destroy the Make America Great Again movement. You remember it just like I do: Russia, Russia, Russia; the Mueller Hoax; Ukraine, Ukraine, Ukraine; Impeachment Hoax 1; Impeachment Hoax 2; the illegal and unconstitutional Mar-a-Lago raid; and now this.
“The Democrats have lied, cheated and stolen in their obsession with trying to ‘Get Trump,’ but now they’ve done the unthinkable - indicting a completely innocent person in an act of blatant Election Interference.
"Never before in our Nation’s history has this been done. The Democrats have cheated countless times over the decades, including spying on my campaign, but weaponizing our justice system to punish a political opponent, who just so happens to be a President of the United States and by far the leading Republican candidate for President, has never happened before. Ever.
“Manhattan DA Alvin Bragg, who was hand-picked and funded by George Soros, is a disgrace. Rather than stopping the unprecedented crime wave taking over New York City, he’s doing Joe Biden’s dirty work, ignoring the murders and burglaries and assaults he should be focused on. This is how Bragg spends his time!
“I believe this Witch-Hunt will backfire massively on Joe Biden. The American people realize exactly what the Radical Left Democrats are doing here. Everyone can see it. So our Movement, and our Party - united and strong - will first defeat Alvin Bragg, and then we will defeat Joe Biden, and we are going to throw every last one of these Crooked Democrats out of office so we can MAKE AMERICA GREAT AGAIN!”
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
This is a serious charge that I would think the FBI and CIA would investigate, in full. I'm a little suspicious about breaking news from rando twitter person on (yes, I know who she is), what is actually a treasonous act under the federal statute.
Send in the clowns! I now give you the POOTWH clown car but I warn you, its a small clown car, very small, some people say the smallest clown car ever and its full of clowns, some small, some quite large, some might say the largest clown ever to fit in the smallest clown car ever! Its a crowded clown car so we'll call this Clown Car I:
The Party Witnesses
Donna Kidder
Donna Kidder joined the Trump Organization in 2007 as a senior accountant and currently serves
as Assistant Controller. TT 1491-1492. Since at least 2008, she has overseen preparing
spreadsheets illustrating the cash positions of each Trump Organization entity for the purpose of
enabling Allen Weisselberg to provide Donald Trump with weekly updates.23
TT 1513-1515.
From 2011-2021, Kidder also prepared, in consultation with Weisselberg and Matthew Calamari
(another Trump Organization employee), budget projections for 40 Wall Street and Trump
Tower that were then incorporated into financial statements sent to third parties. TT 1520-1524; 1529-1533.
Weisselberg directed Kidder to assume certain things when preparing the budget
projections, such as presupposing that any vacant space remaining in a property would be fully
leased by the end of the year and omitting management fees from affiliated entities (falsely
claiming that “payment[s] to an affiliated company” did not have to be included in costs). TT
1524-1525, 1536-1539.
Weisselberg reviewed and approved any financial document that went to an outside party. TT
1530-1533.
Jeffrey McConney tasked Kidder with preparing an annual report that projected the amount of
fees that Donald Trump would receive through licensing deals. TT 1550-1551; PX 3169.
Kidder’s projections were then provided to Mazars and incorporated into the SFCs. TT 1551-
1556. However, Kidder’s projections, as directed by McConney and Weisselberg, contained
undiscounted figures, as it assumed that all revenue would be received within one year regardless
of how many deals were finalized or the pace at which offers were being received.
TT 1550-1556; PX 774, PX 3168.
Patrick Birney
Patrick Birney is a current employee of the Trump Organization. He started there in 2015 as a
senior financial analyst, and in the eight years since, he has held the titles of Associate, Assistant
Vice President of Financial Operations, and Vice President of Financial Operations, the title he
currently holds. TT 1198-1199. Patrick Birney is neither a CPA nor a licensed appraiser, and he
has received no training in applying GAAP or Accounting Standards Codification 274 (“ASC274”). TT 1199; 1211.
Before joining the Trump Organization, Birney worked at AON, an insurance broker, in claim
management, where he serviced the Trump Organization insurance accounts. TT 1199-1201.
While at AON, he liaised with who people referred to as the “Team of Four” that was comprised
of Allen Weisselberg, Ron Lieberman, Matthew Calamari, and Michael Cohen, who were
responsible for overseeing the Trump Organization’s insurance program. TT 1200-1201.
From in or around November 2016 through 2021, Birney prepared the initial valuations for
Donald Trump’s SFCs. TT 1207-1208, 5305. Birney maintained Jeff’s Supporting Data, which
referred to the spreadsheets that supported the numbers on Donald Trump’s SFCs. He also
maintained the “backup,” which referred to “anything that was used to” support the information
on Jeff’s Supporting Data. TT 1204, 1207-1209.
When Birney took over for Jeffrey McConney in preparing and maintaining Jeff’s Supporting
Data, he would show his draft to and ask questions of Weisselberg, and Weisselberg would
review them, answer the questions, and adjust whatever he deemed appropriate. TT 1212, 1213;
1220-1228.
When Birney took over primary responsibility for preparing and maintaining the SFCs’
supporting data, McConney still selected cap rates, appropriate comparables, and valuation
methods. TT 1220-1228.
When valuing Trump Tower for the 2018 and 2019 SFCs, Weisselberg instructed Birney to
remove the management fees from the net operating expenses, even though they were an
expense, and to apply a 2.67 cap rate, despite Birney’s raising concerns with Weisselberg that he
might not be able to support such a low cap rate. TT 1310-1318, 1332-1342.
Birney confirmed that the only reason the Trump Tower Triplex’s square footage on the
supporting spreadsheets was updated to reflect accurately the size was in response to the Forbes
article. TT 5592-5593. To maintain an inflated value for the Triplex despite correcting the
square footage, Weisselberg told Birney to use the “most expensive” and “record shattering”
penthouse sales when calculating price per square foot. TT 1241-1247; PX 767, 2530.
Between 2017 and 2019, Weisselberg told Birney that Donald Trump wanted to see his net worth
on his SFCs increase. TT 1409-1410.
Birney stated that the process of preparing the 2020 supporting data for the SFC was different
than it had been for the years 2016-2019 in that “there was more input from more people,”
specifically identifying Ray Flores, Adam Rosen, and Alan Garten. TT 1229-1231. The process
for preparing the 2021 SFC was similar to that of 2020, with the exception that Weisselberg was
not involved and McConney was “barely involved.” TT 1233.
Mark Hawthorn
In 2016, the Trump Organization hired Mark Hawthorn, a CPA, as the Chief Accounting Officer
for Trump Hotels. Currently, he is the Chief Operating Officer of Trump Hotels. TT 1414-1416,
1421. The role of Chief Executive Officer of Trump Hotels has remained vacant since its last
CEO departed in May 2022. TT 1417. Hawthorn currently reports directly to Eric Trump, who
has overseen the hotel division since at least 2016, and whom Hawthorn understood to be the
chief decision-maker at the company. TT 1417-1421, 5128-5129. Hawthorn oversees
accounting and finance for the hotels’ properties, and he frequently interacted with Allen
Weisselberg, Jeffrey McConney, Donna Kidder, and Patrick Birney, who collectively oversaw
the separate corporate accounting group. TT 1419-1421.
Hawthorn conceded that including the Vornado partnership interest in the cash asset category of
Donald Trumps’ SFCs was inaccurate. TT 1414-1454.Hawthorn affirmed that the requirements of GAAP must still be followed when performing a
compilation. TT 5279. Although Hawthorn was the only CPA with knowledge of GAAP in the
Trump Organization senior management, and, thus, the only one qualified to calculate correctly
the present value of future cash flows to estimated current values, neither Weisselberg, nor
McConney, nor Birney ever once asked for Hawthorn’s assistance in preparing the SFCs. TT
1487-1489, 5139.
When Weisselberg left the Trump Organization, Hawthorn took over part of his responsibilities
in the corporate accounting department, although he never participated in preparing the
supporting data for any of Donald Trump’s SFCs. TT 5244-5245.
On September 8, 2022, the Trump Organization, by Adam Rosen, requested that Deutsche Bank
forego the requirement that Donald Trump submit his annual SFC on his outstanding loan, and,
instead, accept a “one-page spreadsheet that shows his material assets and liabilities but does not
show any valuations of real estate.” PX 563; TT 5259-5265. On September 23, 2022, Deutsche
Bank rejected that request, making it clear that, “[th]e modified financial reporting you have
proposed is not acceptable to Deutsche Bank,” and further quoting the covenant of the loan that
requires submission of an SFC. PX 563. Hawthorn testified that, notwithstanding this
correspondence, it was the Trump Organization’s position that Deutsche Bank did not require the
submission of further SFCs, notwithstanding that the Trump Organization continued to seek
an extension from Deutsche Bank of Donald Trump’s time to submit an SFC. TT 5263-5270;
PX 562.
Hawthorn ultimately conceded that he was not suggesting “that there was ever a point
in the life of this loan where the guarantor ceased to have an obligation to submit a compliance
certificate attaching Mr. Trump’s Statement of Financial Condition.” TT 5272.
Hawthorn confirmed that “the company no longer prepares a Statement of Financial Condition,”
again insisting it is not required by any lenders. TT 5282-5284.
Raymond Flores joined the Trump Organization in 2012 as an analyst on the acquisitions and
development team. In 2014 he was promoted to associate, and in 2016 he was promoted to vicepresident, where he began negotiating financial agreements and managing properties. TT 2038-
2039. From 2016 until he left the Trump Organization in March 2022, he reported to Donald
Trump, Jr. and Eric Trump. TT 2040-2041.
While vice president, Flores interacted weekly with Allen Weisselberg, explaining that
Weisselberg would reach out to him for information about certain properties that Flores had a
role in managing and overseeing, including the Old Post Office in Washington D.C., the Doral
golf resort, and the Chicago hotel. TT 2042. During that time, McConney would also ask for
information about the properties that Flores oversaw. TT 2042-2043.
Beginning in 2020, and at the direction of Alan Garten, chief legal officer, Flores helped prepare
the supporting valuations and data for the SFCs. Garten also asked him to review the statements
and the underlying assumptions that went into the valuations. TT 2043-2046. In preparing the
2020 supporting data, Flores worked with Garten, Adam Rosen, Weisselberg, McConney, and
Patrick Birney. TT 2046.
When asked about specific actions, meetings, discussions, phone calls, methodologies, and
valuations that went into preparing the supporting data, Flores consistently and repeatedly
testified that he “did not recall.” TT 2060-2063; 2075-2082, 2085-2089, 2750-2751.
What Flores did not recall is memorialized in emails and voicemails. Flores repeatedly denied
any recollection of performing a cash flow analysis of Niketown in 2020 and denied any
recollection of McConney asking him to come up with additional reasoning to justify using a
four percent cap rate on Niketown in the 2020 valuations. He was then confronted with a voicemail message that McConney left for him on Christmas Eve of 2020, asking Flores to come
up with additional reasoning to justify using the four percent cap rate on Niketown. When
presented with the voicemail, Flores still claimed not to remember any such events. TT 2748-
2756.
Similarly, he denied recalling having worked on the 2021 SFC supporting data. He was then
confronted with a voicemail message that he left for Patrick Birney on August 2, 2021, stating
that Eric Trump had asked Flores to reach out to Birney about preparing the 2021 SFC data. TT
2756-2759. Again, Flores claimed this voicemail did not refresh his recollection on whether he
was involved in preparing the 2021 SFC. TT 2759.
Flores was also a conduit with a firm, Marvin F. Poer & Company (“Poer”), that handled
property tax assessment appeals in Florida for the Trump Organization. TT 2762; PX 3211. In
2020, the property appraiser determined the market value of Doral to be $78 million, a fact of
which, emails reveal, Flores was acutely aware. PX 3209, PX 3211. Notwithstanding, the
supporting data for the 2020 and 2021 SFCs value Doral at $345 million and $297 million,
respectively. PX 857, 1501. Flores denied any recollection of this, despite the emails that
demonstrate his active participation. TT 2772-2773.
In 2020, the Trump Organization hired Poer to file an appeal of the 2020 tax assessment of Mara-Lago, claiming that the assessed, taxed value of $26.6 million was too high. PX 3170, 3214,
3041 at ¶ 199. As part of the appeal, the Trump Organization explicitly stated that the property
was commercial, and not residential. PX 3170. Two months after filing the appeal, the Trump
Organization withdrew it, stating that it agreed with the $26.6 million determination of value.
PX 3170. 3214; TT 2774- 2777. Flores conceded that that “determination was based on Mar-aLago being categorized as a commercial property.” TT 2776-2777.
When presented with additional emails and documents found in Flores’ possession that
unquestionably reveal that he absolutely understood that Mar-a-Lago was exclusively a
commercial, not residential, property, Flores continued to deny any recollection, stating “[t]hat’s
what the email says. I don’t recall.” TT 2777-2781; PX 1382. Notwithstanding, every SFC
from 2011-2021 valued Mar-a-Lago not only as if it could be sold as a private residence, but also
as if there were no deed restrictions burdening it; the SFCs’ values for that decade range from
$405 million to $739 million. PX 788, 793, 708, 719, 731, 742, 758, 774, 843, 857, 1501.
Overall, Flores was not a credible witness, and the Court finds it highly unlikely that none of the
documentary evidence with which Flores was confronted revived his recollection as to his
participation in any of the aforementioned activities.
Michael Cohen
Michael Cohen joined the Trump Organization in 2007 as executive vice president and special
counsel to Donald Trump.
24 TT 2191, 2195-2197. During his entire tenure at the Trump
Organization, Cohen reported directly to Donald Trump. TT 2197.
In 2018, Cohen pleaded guilty, in the federal district court for the Southern District of New
York, to several counts of tax evasion, one count of misrepresentation to a financial institution,
two counts of violating campaign finance laws, and one count of misrepresentation to Congress.
Cohen cooperated with the government and was sentenced to 36 months of incarceration. TT
2184-2188.
The “reverse engineering” conversations took place in meetings amongst Donald Trump,
Weisselberg, and Cohen. Cohen testified that Donald Trump would intentionally give indirect
instructions (i.e., “He would look at the total assets and he would say, ‘I’m actually not worth
four and a half billion dollars. I’m really worth more, like, six.”), which Cohen and Weisselberg
understood as a directive to inflate the assets until the desired value was achieved. TT 2215-
2287, 2460-2461.26
As part of this reverse engineering scheme, Cohen said they would look at numbers being
achieved elsewhere, find the highest price per square foot achieved in New York City, and apply
that price per square foot to Trump assets, even though the Trump properties were neither
comparable nor similar. TT 2216-2217.
Cohen described the process of arbitrarily adding values to the asset categories on the SFC
categories as follows:
I would sit down with Allen [Weisselberg] and we would make the
changes. That document would then be photocopied that had all of
the changes at which point in time Allen and I would return to Mr.
Trump to demonstrate that we achieved or [were] close to the
number that he was seeking and I had no use for that document any
longer. TT 2218-2219.
Cohen said that each reverse engineering process would take several days, and
that Weisselberg relied on McConney to assist him in adding value to the numbers on the
supporting data for the SFCs. TT 2220-2221, 2230. Cohen further made clear that Donald
Trump had to approve the final numbers before they went to Mazars to be used in the
compilations. TT 2220.
Cohen specifically recalled working to reverse engineer the values of Trump Tower, Trump Park
Avenue, Trump World Tower United Nations, 100 Central Park South, Seven Springs, and the
Miss Universe Pageant. TT 2226-2227, 2340-2341.
Cohen was also a member of the “Team of Four” that was tasked with acquiring insurance on
behalf of the Trump Organization. TT 2234-2239; PX 3119. When meeting with insurance
representatives or brokers for the purpose of acquiring coverage, Weisselberg would permit the
representatives only to view the SFCs at Trump Tower; they were not permitted to make copies
or to keep the original. TT 2240. Cohen also described Donald Trump’s participation in the
meetings with the insurance representatives, detailing an orchestrated routine wherein Donald
Trump would intentionally come into the meetings three quarters of the way through to boast
that he is richer than the insurance companies and should consider going self-insured, in an
attempt to garner a lower premium from the insurance representatives. TT 2245, 2248-2249; PX
3166.
Michael Cohen was an important witness on behalf of the plaintiff, although hardly the linchpin
that defendants have attempted to portray him to be. His testimony was significantly
compromised by his having pleaded guilty to perjury and by some seeming contradictions in
what he said at trial. However, carefully parsed, he testified that although Donald Trump did not
expressly direct him to reverse engineer financial statements, he ordered him to do so indirectly,
in his “mob voice.” Although the animosity between the witness and the defendant is palpable,
providing Cohen with an incentive to lie, the Court found his testimony credible, based on the
relaxed manner in which he testified, the general plausibility of his statements, and, most
importantly, the way his testimony was corroborated by other trial evidence. A less-forgiving
factfinder might have concluded differently, might not have believed a single word of a
convicted perjurer. This factfinder does not believe that pleading guilty to perjury means that
you can never tell the truth. Michael Cohen told the truth.
Footnotes for Michael Cohen Clown:
24 The Court lists Michael Cohen as a “party witness,” as he was a Trump Organization employee at all
relevant times. However, the Court is mindful that Mr. Cohen is now adverse to defendants.
25 To reverse engineer, in this context, means to start with the desired result and end with the necessary
numbers to achieve that result.
26 Cohen elaborated that Donald Trump “did not specifically state ‘Michael, go inflate the numbers,’”
specifically testifying that “Donald Trump speaks like a mob boss and what he does is he tells you what
he wants without specifically telling you. So[,] when he said to me ‘I’m worth more than five billion.
I’m actually worth maybe six, maybe seven, could be eight,’ we understood what he wanted.” TT 2460-
2461.
David Orowitz
David Orowitz joined the Trump Organization in 2008 as a vice president of acquisition and
development and worked his way up to senior vice-president of acquisition and development
before leaving the Trump Organization in 2016. He was hired by Donald Trump, Jr. and
promoted by “the Trump kids,” referring to Eric Trump, Donald Trump, Jr, and Ivanka Trump.
TT 2941-2942. Throughout his tenure at the Trump Organization, he reported to Eric Trump,
Trump, Jr., and Ivanka Trump. TT 2942.
Allen Weisselberg directed Orowitz to provide valuation information to Forbes, with the
objective of “persuad[ing] Forbes that some of the assets were worth more than what [Forbes] originally were [sic] discussing valuing them at,” so that Donald Trump would be “represented
higher on the listing” of the world’s richest people. TT 2944-2945.
Emails to the Trump Organization (Weisselberg, Ivanka Trump, and Orowitz) and Orowitz’s
testimony confirm that the Trump Organization sought financing for Doral, Trump Chicago, and
the Old Post Office from multiple lenders besides Deutsche Bank’s Private Wealth Management
Division, and in each instance the terms offered by the commercial real estate arm of the banks
were less favorable than the terms offered by Deutsche Bank Private Wealth Management, which
required a personal guarantee from Donald Trump. PX 3232, 3233, 3235, 3239, 3241, 3243; TT
2976-2981, 2984-3005. For example, the Trump Organization understood that rates on Doral
could be as high as the “low teens” without Donald Trump’s personal guarantee. TT 2954-2955,
3672-3681.
This is a serious charge that I would think the FBI and CIA would investigate, in full. I'm a little suspicious about breaking news from rando twitter person on (yes, I know who she is), what is actually a treasonous act under the federal statute.
This shizzy is real, yo! POOTWH done fucked with the wrong people.
Russian CEO wins autographed golden Donald Trump sneakers after $9K bid
A Russian CEO has won an autographed pair of Donald Trump’s new golden sneakers after making an eye-watering bid.
Roman Sharf, the founder and CEO of luxury watch dealer, Luxury Bazaar, walked away with an autographed pair of Trump’s golden “Never Surrender high-tops” after placing a winning bid of $9,000 at Philadelphia’s Sneaker Con.
Trump announced the launch of the golden sneakers, which are part of his new shoe line, during a surprise appearance at the event on Saturday.
A video shared on social media shows Sharf smiling and speaking to members of the crowd as he showed off the golden sneakers after outbidding other buyers.
The shoes, which feature an American flag detail on the back, cost $399.
Continue watchingThis Day in Historyafter the ad
Limited to just 1000 pairs, the sneakers reportedly sold out less than two hours after the launch.
“We are going to have a winning celebration come this November, and I’ll be wearing these one-of-one Donald Trump-signed sneakers,” Sharf said after winning, according to Times Now World.
Roman Sharf, the founder and CEO of luxury watch dealer, Luxury Bazaar, walked away with an autographed pair of Trump’s golden “Never Surrender high-tops.”X/ AtlasEternal13
He placed a winning bid of $13,700 (US$9000) at Philadelphia’s Sneaker Con.X/ AtlasEternal13
He later shared on social media he plans to eventually pass the shoes down to his children.
“But for now will display in the office,” he wrote on X.
Sharf, who was born in the Soviet Union and lives in Philadelphia, describes himself as “one of the world’s biggest grey market watch dealers” – which trades luxury watches “without being authorised by the brand to do so on their behalf”.
His business employs 30 staff and generates about $130 million in sales annually, he told WatchPro.
The shoes, which feature an American flag detail on the back, cost $399.AP/Manuel Balce Ceneta
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Ad 2 of 2.
Trump was met with loud boos and cheers from the crowd when he introduced the shoe line on Saturday.
“I’ve wanted to do this for a long time,” the Republican frontrunner told the crowd.
“I have some incredible people that work with me on things, and they came up with this, and this is something I’ve been talking about for 12 years, 13 years. I think it’s gonna be a big success.”
His shoe line also includes a low-top style in either “T-Red” or “POTUS” white, both with a golden “45” on the side, which sell for $305 (US$199).
The website also features “Victory 47” perfume for $151 (US$99).
The announcement came after the former president was ordered by a New York judge to pay $544.5 million (US$355 million) for allegedly inflating his net worth to dupe banks and insurers.
Prior to trial, the judge had yanked Trump’s business license for the Trump Organization – issuing what attorneys described as the “corporate death penalty” – after finding him liable for New York Attorney-General Letitia James’ main claim of fraud.
Limited to just 1000 pairs, the sneakers reportedly sold out less than two hours after the launch.Getty Images/Chip Somodevilla
But in Friday’s ruling, Judge Engoron reinstated Trump’s “business certificates” – and left it up to a third-party monitor to oversee the former President’s prized assets, such as Midtown’s Trump Tower and other iconic New York properties.
“This is a complete reversal from the last decision, and it is much more palatable for Trump,” said real estate lawyer Adam Leitman Bailey, who has sued Trump in the past.
“He went from ordering Trump to potentially have to sell all of his New York assets within a short amount of time, to just having a monitor oversee things without giving her direction on what she’s supposed to do.”
The ruling also bars Trump from being the CEO of Trump Organization – or holding any top business office in the state – for three years, but the ex-President could appoint someone else to run the company during that time, with the business staying in New York.
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The U.S. Supreme Court rejects an appeal by pro-Trump lawyers Sidney Powell, Lin Wood and five others that challenged the sanctions issued by a district judge over their bogus claims that the 2020 election Michigan had been rigged against Trump. Powell and Wood are also expected to testify in the Georgia election interference case against Trump and 14 co-defendants. Here are the latest legal developments involving the former president hoping to be reelected to the White House in 2024.
continues at the link...
"You can tell the greatness of a man by what makes him angry." - Lincoln
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
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The Clown Car continues with Ivanka Darlink at the wheel.
Clown Car II:
The Party Witnesses (Continued)
Ivanka Trump
Ivanka Trump began working for the Trump Organization in 2006 and continued working there
until 2017, when she left to work in her father’s presidential administration. TT 3662.
She testified that she has not performed work for the Trump Organization since 2017, although
she received payments from TTT Consulting after 2017, and she received a share of the profits
upon the sale of the Old Post Office in 2022. TT 3666; PX 1373.
In 2011, Ivanka Trump was seeking financing for the Trump Organization to fund the Doral
project. TT 3670-3692; PX 1266, 3232, 3243, 3247, 1289, 1433, 1067. Her husband, Jared
Kushner, introduced her to Rosemary Vrablic, who worked in the Private Wealth Management
Division of Deutsche Bank. TT 3670; PX 315.
Following an introductory meeting in fall 2011, in December, Vrablic emailed Ivanka Trump a
proposed “Summary of Terms” for the Doral loan. PX 319, 315, 1129. Vrablic’s proposal made
clear that any lending from the Private Wealth Management Division would require a personal
guarantee. PX 319. The initial summary of terms proposed that Donald Trump maintain a
minimum net worth of $3.0 billion; this was subsequently negotiated down to $2.5 billion in the
final loan agreement. PX 319, 320. Despite being presented with ample emails and other
documentary evidence demonstrating the critical role she played in the negotiation, Ms. Trump
professed to have no memory of any of the events of the loan negotiation or the agreed upon
terms.27
TT 3694-3707, 3710-3711; PX 3226, 332, 320.
In February 2016, Ivanka Trump contacted Vrablic about an additional unsecured loan on behalf
of Donald Trump. PX 355, 352. Vrablic responded that, having run the request by the credit
risk management team, an unsecured loan would not be possible, explaining “we do not have any
large unsecured amounts such as this request in the entire [private banking] portfolio.” PX 355.
Ivanka Trump, on behalf of the Trump Organization, implored Vrablic to have Deutsche Bank
make an exception, to which Vrablic responded in April of 2016: “we are disappointed that the
bank couldn’t make an exception in this case.” PX 558. Ivanka Trump again denied any
recollection of these events, although she conceded she had no reason to believe that she did not
send or receive the emails with which she was confronted. TT 3712-3717.
Ivanka Trump was presented with emails that demonstrated that in 2012 she actively participated
in trying to secure a loan for the Chicago project. PX 3236, 3239, 477, 365, 3242. When
confronted with these emails, Ms. Trump denied any recollection of their contents. TT 3724-
3734.
Emails exchanged between Deutsche Bank and the Trump Organization demonstrate that in
2012, Deutsche Bank offered dueling proposals to refinance an existing loan on the property: (1)
a non-recourse loan from the commercial real estate group, secured only by the real estate, priced
at LIBOR + 8 points; and (2) a recourse loan from the Private Wealth Management Division,
with a full personal guarantee from Donald Trump, priced at LIBOR + 4 points. PX 470.
Emails and other documentary evidence similarly show Ivanka Trump’s active involvement in
securing the bid for the Old Post Office and negotiating the terms thereof. PX 1288, 1429, 1431,
1302, 327, 1333. She consistently denied recalling the contents of documentary evidence that
confirmed that she actively participated in events, even after she was confronted with the
evidence. TT 3734-3738, 3747-3760, 3777-3782. In 2022, Ms. Trump received a profit payout
of $4,013,024 from the sale of the Old Post Office. PX 1373; TT 3790-1391.
On direct examination by plaintiff, Ivanka Trump had no recollection of any of the events that
gave rise to this action; no number of emails or documents with her signature served to refresh
her recollection. Notably, on cross-examination by defendants’ counsel, Ms. Trump suddenly
and vividly recalled details of the projects and her interactions with Vrablic. TT 3801-3810. For
example, after testifying on direct examination that she could not recall any of the details of her
father’s personal guarantee of the Old Post Office loan, on cross-examination, she suddenly
recalled: “There was a step down of the guarant[ee], if I recall, once the property was
operational.” TT 3761-3763, 3777-3782, 3810-3811.
Ivanka Trump was a thoughtful, articulate, and poised witness, but the Court found her
inconsistent recall, depending on whether she was questioned by OAG or the defense, suspect.
In any event, what Ms. Trump cannot recall is memorialized in contemporaneous emails and
documents; in the absence of her memory, the documents speak for themselves.
Footnote for Ivanka Darlink Clown:
27 In an email dated December 15, 2011, Ivanka Trump forwarded the initial proposed terms received
from Rosemary Vrablic to Allen Weisselberg, Jason Greenblatt, and David Orowitz, with the notation: “It
doesn’t get better than this. lets [sic] discuss asap.” Greenblatt immediately responded to Ms. Trump’s
email and expressed his reservations about entering into any loan that required a personal guarantee from
Donald Trump. In a reply email later that day Ivanka Trump wrote: “That we have known from day one.
We wanted to get a great rate and the only way to get proceeds/term and principle where we want them is
to guarantee the deal.” PX 3226.
Kevin Sneddon
Trump International Realty employed Kevin Sneddon from 2011-2012 as the managing director
of its brokerage office. TT 6602. He recalled Allen Weisselberg asking him to assess the value of Donald Trump’s Triplex apartment. PX 1052; TT 6619-6620. In response to the request,
Sneddon asked Weisselberg if he could see the Triplex, to which Weisselberg responded that that
was “not possible.” TT 6620. Sneddon then asked if Weisselberg could send him a floorplan or
specs of the Triplex to evaluate, to which Weisselberg also said “no.” TT 6620. Sneddon then
asked Weisselberg what size the Triplex was, to which Weisselberg responded “around 30,000
square feet.” TT 6620. Sneddon then used the 30,000 square foot number in ascertaining a
value for the Triplex. TT 6620-6623.
The grift that keeps on grifting. Write those checks! Take out the credit card! Go down to the Western Union outlet! C'mon, you have to do it! The future of 'Murica is riding on YOU!!!
GoFundMe to help Trump pay $355M fraud fine reaches $668K in 4 days
The GoFundMe fundraiser created to help President Donald Trump pay his $355 million civil fine to the state of New York has raised over $668,000 in just four days, despite calls for the page to be banned. The page was created by Elena Cardone, the wife of real estate mogul Grant Cardone, as a call for action for Trump supporters in response to the fraud verdict delivered in New York on Friday.
The grift that keeps on grifting. Write those checks! Take out the credit card! Go down to the Western Union outlet! C'mon, you have to do it! The future of 'Murica is riding on YOU!!!
GoFundMe to help Trump pay $355M fraud fine reaches $668K in 4 days
The GoFundMe fundraiser created to help President Donald Trump pay his $355 million civil fine to the state of New York has raised over $668,000 in just four days, despite calls for the page to be banned. The page was created by Elena Cardone, the wife of real estate mogul Grant Cardone, as a call for action for Trump supporters in response to the fraud verdict delivered in New York on Friday.
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SEC approves Trump Truth Social deal for up to $10 billion
The SEC approved a merger of Truth Social and the Digital World Acquisition Corporation.
The United States Securities and Exchange Commission (SEC) has approved a merger of former President Donald Trump's social media platform, Truth Social, with Digital World Acquisition Corporation (DWAC), which is a Special Purpose Acquisition Company (SPAC).
There were two years of delay leading up to the deal because of an investigation into the company by regulators. Now the SEC has approved the merger of approximately $10 billion after the long wait on Wall Street, according to reporting from OANN.
The Trump Media & Technology Group, which owned both companies, intends to take Truth Social public in an initial public offering (IPO). In order to have it go through the process, Trump had to give up a lot of equity in the platform.
According to SEC filings, Trump will own about $79 million in shares of the business. DWAC shares were trading at around $45-47 per share as of Tuesday. Depending on how the IPO will go, Trump's ownership ranges between 60-70 percent of the company.
Ahead of the election, the platform could become a boon for Trump depending on how the results of the primary and 2024 race play out.
SEC approves Trump Truth Social deal for up to $10 billion
The SEC approved a merger of Truth Social and the Digital World Acquisition Corporation.
The United States Securities and Exchange Commission (SEC) has approved a merger of former President Donald Trump's social media platform, Truth Social, with Digital World Acquisition Corporation (DWAC), which is a Special Purpose Acquisition Company (SPAC).
There were two years of delay leading up to the deal because of an investigation into the company by regulators. Now the SEC has approved the merger of approximately $10 billion after the long wait on Wall Street, according to reporting from OANN.
The Trump Media & Technology Group, which owned both companies, intends to take Truth Social public in an initial public offering (IPO). In order to have it go through the process, Trump had to give up a lot of equity in the platform.
According to SEC filings, Trump will own about $79 million in shares of the business. DWAC shares were trading at around $45-47 per share as of Tuesday. Depending on how the IPO will go, Trump's ownership ranges between 60-70 percent of the company.
Ahead of the election, the platform could become a boon for Trump depending on how the results of the primary and 2024 race play out.
I thought the fake news Deep State Marxists at the SEC were going to take him down, as part of the overall effort to prevent Trump from being president. Letting this go to IPO really confuses my narrative.
Comments
getting boo"d selling shitty shoes.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
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maybe it is "going into debt to own the libs" time in the campaign.
"Well, you tell him that I don't talk to suckas."
Donald Trump
Donald Trump is the beneficial owner of the collection of companies branded as “the Trump Organization.” TT 3472. From May 1, 1981 through January 19, 2017, he was its Director, President, and Chairman. TT 3472.
He is also the sole beneficiary of the Donald J. Trump Revocable Trust, under which all Trump Organization assets are held. TT 3472. After he assumed the presidency in 2017, Donald Trump appointed Donald Trump, Jr. and Allen Weisselberg as the trustees of the trust. TT 3474. When he left the White House in 2021, Donald Trump re-appointed himself as the sole trustee of the trust, stating that “I figured that I would be back in the business world for a little while… So, I figured that I would be back in business, I might as well be the Trustee.” TT 3475. However, on July 7, 2021, Donald Trump once again removed himself as trustee, stating that “I think we were at a position where I was gaining more and more confidence in my family in terms of business.” PX 1720; TT 3475-3476. He re-appointed Trump, Jr. and Weisselberg as trustees. TT 3476- 3477.
Donald Trump testified that Weisselberg and McConney were responsible for maintaining complete and accurate books and records of the Trump Organization. TT 3617. Donald Trump confirmed that Weisselberg and McConney prepared the supporting data on which the SFCs were based before coming to him for final review. TT 3491.Donald Trump acknowledged that he reviewed the SFCs each year from 2011 to 2017 before they became final, further adding that “I would see them. And I would maybe, on occasion, have some suggestions.” TT 3478, 3513. He recalled that on specific occasions Weisselberg and McConney asked his opinion about the valuations of 40 Wall Street, Seven Springs, and his limited partnership with Vornado. TT 3495- 3496; 3519-3522; PX 3344.
Donald Trump also acknowledged that, as he certified to Mazars in the Management Representation Letters, he was responsible for the preparation and fair presentation of financial statements. PX 730; TT 3481-3482, 3564-3568. He understood that Deutsche Bank would rely on his certifications to determine if he was complying with his loan covenants. TT 3620-3623, 3630.
Donald Trump insisted that the values within the SFCs were not only not fraudulently inflated, as this Court has already found, but that, if anything, they were deflated, as the following exchange with OAG demonstrates:
Q. In light of your expertise in real estate, do you recall ever thinking that the values were off in your Statements of Financial Condition? A. Yeah, on occasion. Q. What were some of those occasions?
A. Both high and low; both high and low.
Q. Which occasions do you recall?
A. I thought that Mar-a-Lago was very underestimated, but I didn’t do anything about it. I just left it be. It didn’t matter, I didn’t care, because the numbers you are talking about here is, you know, they are very big numbers, very, very big. Far bigger – the values are far bigger than what is on the financial statement. I thought Mar-a-Lago was underestimated. I thought 40 Wall Street was very underestimated because that building has tremendous value. I thought that there were numerous other things. I thought Doral was very underestimated. I thought it was considerably more valuable. Not necessarily [its] golf courses, but it is right in the middle of Miami, right next to the airport. I would say you could build thousands of units and hotels on the site. So you don’t look at it as a golf course. It is a great golf course, very successful, four of them, four courses. One was sold. It was five. One was sold that was a little disconnected, and [I] sold it. But I thought Doral was very underestimated. …
Q. [I]f anything, do you think the statement undervalued your assets; is that correct?
A. Yes, by a lot. The financial statements. TT 3487-3488, 3495.
When asked about his limited partnership interest in Vornado, and specifically, whether he had control over the assets, Donald Trump equivocated several times, extolling the virtues of his limited partnership, before ultimately conceding: “In the true sense, no.” TT 3518-3519.
When examined about the valuation of Mar-a-Lago, Donald Trump did not recall having any specific conversations with Weisselberg or McConney about valuing it as a private residence, although he conceded that it was valued on the SFCs as if it could be sold as a private residence. TT 3527-3530. When confronted with the 2002 deed18 in which he signed away, in perpetuity, the right to use or develop Mar-a-Lago as anything other than as a social club, in exchange for a conservation easement tax benefit, he offered that “when you say, ‘intend,’ intend doesn’t mean we will do it.” PX 1730; TT 3533-3535.
Nonetheless, Donald Trump insisted that he believed Mar-a-Lago is worth “between a billion and a billion five” today, which would require not only valuing it as a private residence, which the deed prohibits,19 but as more than the most expensive private residence listed in the country by approximately 400%. 20 TT 3530.
When questioned about Aberdeen, and whether he was aware that the SFCs for 2014-2018 valued the property as if the Trump Organization could build 2500 year-round private residences (when in fact, they had received permission to build only 500), Donald Trump testified: “I don’t know, but it could very well be. It’s sort of like a painting. You could do pretty much what you want to do. The land is there. You could do what you want to do. So you could do either one of them, actually.” TT 3539-3547. When confronted with evidence that, in 2014, the Trump Organization had submitted a statement to UK regulators stating that the Trump Organization did not intend to develop the Aberdeen property any further because of Donald Trump’s opposition to wind farms, Trump testified: “At some point that will be developed into a magnificent job. I just don’t want to do it now.” TT 3547-3549.
Notwithstanding the foregoing, the 2014-2018 SFCs valued Aberdeen not only as if Donald Trump had permission to develop 2500 private year-round residences, which he did not, but also as if those residences had already been built, and the SFCs and supporting data failed to account for any development costs associated with making the hypothetical residences a reality. PX 719, 731, 742, 758, 774.
When questioned about whether he had ever inflated the value of 40 Wall Street, Donald Trump was confronted with a Forbes article, including a published audio recording, dated September 21, 2022, that reported that Trump had told Forbes in 2015 that 40 Wall Street was 72 stories tall, when in fact, it is only 63, resulting in an overvaluation of $50 million. The article also reported that Donald Trump told Forbes that 40 Wall Street had a net operating income of $64 million in 2015, when in fact, the building ran a deficit21 of more than $8.7 million for the 12-month period ending on March 31, 2015. TT 3568-3576; PX 652, 636. When asked if he was misquoted in the Forbes article, Donald Trump replied “I don’t know. I don’t know what I said.” TT 3571.
When asked if he still approved of the work that McConney and Weisselberg did in preparing the SFCs from 2011-2017, Donald Trump testified: “As far as I know I do. You haven’t shown me anything that would change my mind.” TT 3551.
Donald Trump stated he was not involved in the preparation of the 2021 SFC, and that it would have been prepared by Weisselberg, McConney, Trump, Jr., and Eric Trump. TT 3523.
Donald Trump was aware that receiving loans from the Deutsche Bank Private Wealth Management Division required him: to provide a personal guarantee; to maintain a minimum net worth of $2.5 billion; to maintain unencumbered liquidity of $50 million at all times; and to submit annual SFCs to Deutsche Bank, so that Deutsche Bank could test his compliance with the loan covenants. TT 3586-3601, 3604-3614; PX 426, 312, 307, 1844, 309, 394, 503.
When Donald Trump sold the Old Post Office hotel, he paid off the Deutsche Bank loan, and the following profits were distributed: $126,828,600 to Donald Trump; $4,013,024 to Eric Trump; $4,013,024 to Donald Trump, Jr., and $4,013,024 to Ivanka Trump. PX 1373, TT 3624-3626.
When questioned about Weisselberg’s guilty plea to tax fraud in connection with his employment at the Trump Organization, Donald Trump challenged that Weisselberg had committed any wrongdoing (to which Weisselberg admitted), saying “I mean is there something wrong… I mean IBM executives get apartments that are compensated by IBM. And lots of other companies do. But people that work for me can’t be so compensated? I don’t know, I don’t think that’s a big thing. Is it?”22 TT 3632-3634.
Overall, Donald Trump rarely responded to the questions asked, and he frequently interjected long, irrelevant speeches on issues far beyond the scope of the trial. His refusal to answer the questions directly, or in some cases, at all, severely compromised his credibility.
Footnotes:
18 See further discussion of Mar-a-Lago infra.
19 A fact of which he is well aware, having signed the deed himself.
20 According to a CNBC report, as of January 7, 2022, the most expensive private family residence listing in the United States was $295 million, for a newly developed 105,000 square foot mega-mansion in Los Angeles, California. https://www.cnbc.com/2022/01/07/most-expensive-home-in-america-lists-for-295- million-may-head-to-auction.html.
21 40 Wall Street also ran net operating deficits in 2013 and 2012 ranging from -$7.3 million to -$20.9 million. TT 3577-3579.
Libtardaplorable©. And proud of it.
Brilliantati©
Statement by Donald J. Trump, 45th President of the United States of America:
“This is Political Persecution and Election Interference at the highest level in history. From the time I came down the golden escalator at Trump Tower, and even before I was sworn in as your President of the United States, the Radical Left Democrats - the enemy of the hard-working men and women of this Country - have been engaged in a Witch-Hunt to destroy the Make America Great Again movement. You remember it just like I do: Russia, Russia, Russia; the Mueller Hoax; Ukraine, Ukraine, Ukraine; Impeachment Hoax 1; Impeachment Hoax 2; the illegal and unconstitutional Mar-a-Lago raid; and now this.
“Manhattan DA Alvin Bragg, who was hand-picked and funded by George Soros, is a disgrace. Rather than stopping the unprecedented crime wave taking over New York City, he’s doing Joe Biden’s dirty work, ignoring the murders and burglaries and assaults he should be focused on. This is how Bragg spends his time!
“I believe this Witch-Hunt will backfire massively on Joe Biden. The American people realize exactly what the Radical Left Democrats are doing here. Everyone can see it. So our Movement, and our Party - united and strong - will first defeat Alvin Bragg, and then we will defeat Joe Biden, and we are going to throw every last one of these Crooked Democrats out of office so we can MAKE AMERICA GREAT AGAIN!”
Libtardaplorable©. And proud of it.
Brilliantati©
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
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Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
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another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Libtardaplorable©. And proud of it.
Brilliantati©
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
The Party Witnesses
Donna Kidder
Donna Kidder joined the Trump Organization in 2007 as a senior accountant and currently serves as Assistant Controller. TT 1491-1492. Since at least 2008, she has overseen preparing spreadsheets illustrating the cash positions of each Trump Organization entity for the purpose of enabling Allen Weisselberg to provide Donald Trump with weekly updates.23 TT 1513-1515.
From 2011-2021, Kidder also prepared, in consultation with Weisselberg and Matthew Calamari (another Trump Organization employee), budget projections for 40 Wall Street and Trump Tower that were then incorporated into financial statements sent to third parties. TT 1520-1524; 1529-1533.
Weisselberg directed Kidder to assume certain things when preparing the budget projections, such as presupposing that any vacant space remaining in a property would be fully leased by the end of the year and omitting management fees from affiliated entities (falsely claiming that “payment[s] to an affiliated company” did not have to be included in costs). TT 1524-1525, 1536-1539.
Weisselberg reviewed and approved any financial document that went to an outside party. TT 1530-1533.
Jeffrey McConney tasked Kidder with preparing an annual report that projected the amount of fees that Donald Trump would receive through licensing deals. TT 1550-1551; PX 3169. Kidder’s projections were then provided to Mazars and incorporated into the SFCs. TT 1551- 1556. However, Kidder’s projections, as directed by McConney and Weisselberg, contained undiscounted figures, as it assumed that all revenue would be received within one year regardless of how many deals were finalized or the pace at which offers were being received. TT 1550-1556; PX 774, PX 3168.
Patrick Birney
Patrick Birney is a current employee of the Trump Organization. He started there in 2015 as a senior financial analyst, and in the eight years since, he has held the titles of Associate, Assistant Vice President of Financial Operations, and Vice President of Financial Operations, the title he currently holds. TT 1198-1199. Patrick Birney is neither a CPA nor a licensed appraiser, and he has received no training in applying GAAP or Accounting Standards Codification 274 (“ASC274”). TT 1199; 1211.
Before joining the Trump Organization, Birney worked at AON, an insurance broker, in claim management, where he serviced the Trump Organization insurance accounts. TT 1199-1201. While at AON, he liaised with who people referred to as the “Team of Four” that was comprised of Allen Weisselberg, Ron Lieberman, Matthew Calamari, and Michael Cohen, who were responsible for overseeing the Trump Organization’s insurance program. TT 1200-1201.
From in or around November 2016 through 2021, Birney prepared the initial valuations for Donald Trump’s SFCs. TT 1207-1208, 5305. Birney maintained Jeff’s Supporting Data, which referred to the spreadsheets that supported the numbers on Donald Trump’s SFCs. He also maintained the “backup,” which referred to “anything that was used to” support the information on Jeff’s Supporting Data. TT 1204, 1207-1209.
When Birney took over for Jeffrey McConney in preparing and maintaining Jeff’s Supporting Data, he would show his draft to and ask questions of Weisselberg, and Weisselberg would review them, answer the questions, and adjust whatever he deemed appropriate. TT 1212, 1213; 1220-1228.
When Birney took over primary responsibility for preparing and maintaining the SFCs’ supporting data, McConney still selected cap rates, appropriate comparables, and valuation methods. TT 1220-1228.
When valuing Trump Tower for the 2018 and 2019 SFCs, Weisselberg instructed Birney to remove the management fees from the net operating expenses, even though they were an expense, and to apply a 2.67 cap rate, despite Birney’s raising concerns with Weisselberg that he might not be able to support such a low cap rate. TT 1310-1318, 1332-1342.
Birney confirmed that the only reason the Trump Tower Triplex’s square footage on the supporting spreadsheets was updated to reflect accurately the size was in response to the Forbes article. TT 5592-5593. To maintain an inflated value for the Triplex despite correcting the square footage, Weisselberg told Birney to use the “most expensive” and “record shattering” penthouse sales when calculating price per square foot. TT 1241-1247; PX 767, 2530.
Between 2017 and 2019, Weisselberg told Birney that Donald Trump wanted to see his net worth on his SFCs increase. TT 1409-1410.
Birney stated that the process of preparing the 2020 supporting data for the SFC was different than it had been for the years 2016-2019 in that “there was more input from more people,” specifically identifying Ray Flores, Adam Rosen, and Alan Garten. TT 1229-1231. The process for preparing the 2021 SFC was similar to that of 2020, with the exception that Weisselberg was not involved and McConney was “barely involved.” TT 1233.
Mark Hawthorn
In 2016, the Trump Organization hired Mark Hawthorn, a CPA, as the Chief Accounting Officer for Trump Hotels. Currently, he is the Chief Operating Officer of Trump Hotels. TT 1414-1416, 1421. The role of Chief Executive Officer of Trump Hotels has remained vacant since its last CEO departed in May 2022. TT 1417. Hawthorn currently reports directly to Eric Trump, who has overseen the hotel division since at least 2016, and whom Hawthorn understood to be the chief decision-maker at the company. TT 1417-1421, 5128-5129. Hawthorn oversees accounting and finance for the hotels’ properties, and he frequently interacted with Allen Weisselberg, Jeffrey McConney, Donna Kidder, and Patrick Birney, who collectively oversaw the separate corporate accounting group. TT 1419-1421.
Hawthorn conceded that including the Vornado partnership interest in the cash asset category of Donald Trumps’ SFCs was inaccurate. TT 1414-1454. Hawthorn affirmed that the requirements of GAAP must still be followed when performing a compilation. TT 5279. Although Hawthorn was the only CPA with knowledge of GAAP in the Trump Organization senior management, and, thus, the only one qualified to calculate correctly the present value of future cash flows to estimated current values, neither Weisselberg, nor McConney, nor Birney ever once asked for Hawthorn’s assistance in preparing the SFCs. TT 1487-1489, 5139.
When Weisselberg left the Trump Organization, Hawthorn took over part of his responsibilities in the corporate accounting department, although he never participated in preparing the supporting data for any of Donald Trump’s SFCs. TT 5244-5245.
On September 8, 2022, the Trump Organization, by Adam Rosen, requested that Deutsche Bank forego the requirement that Donald Trump submit his annual SFC on his outstanding loan, and, instead, accept a “one-page spreadsheet that shows his material assets and liabilities but does not show any valuations of real estate.” PX 563; TT 5259-5265. On September 23, 2022, Deutsche Bank rejected that request, making it clear that, “[th]e modified financial reporting you have proposed is not acceptable to Deutsche Bank,” and further quoting the covenant of the loan that requires submission of an SFC. PX 563. Hawthorn testified that, notwithstanding this correspondence, it was the Trump Organization’s position that Deutsche Bank did not require the submission of further SFCs, notwithstanding that the Trump Organization continued to seek an extension from Deutsche Bank of Donald Trump’s time to submit an SFC. TT 5263-5270; PX 562.
Hawthorn ultimately conceded that he was not suggesting “that there was ever a point in the life of this loan where the guarantor ceased to have an obligation to submit a compliance certificate attaching Mr. Trump’s Statement of Financial Condition.” TT 5272. Hawthorn confirmed that “the company no longer prepares a Statement of Financial Condition,” again insisting it is not required by any lenders. TT 5282-5284.
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The Party Witnesses (Continued)
Raymond Flores
Raymond Flores joined the Trump Organization in 2012 as an analyst on the acquisitions and development team. In 2014 he was promoted to associate, and in 2016 he was promoted to vicepresident, where he began negotiating financial agreements and managing properties. TT 2038- 2039. From 2016 until he left the Trump Organization in March 2022, he reported to Donald Trump, Jr. and Eric Trump. TT 2040-2041.
While vice president, Flores interacted weekly with Allen Weisselberg, explaining that Weisselberg would reach out to him for information about certain properties that Flores had a role in managing and overseeing, including the Old Post Office in Washington D.C., the Doral golf resort, and the Chicago hotel. TT 2042. During that time, McConney would also ask for information about the properties that Flores oversaw. TT 2042-2043.
Beginning in 2020, and at the direction of Alan Garten, chief legal officer, Flores helped prepare the supporting valuations and data for the SFCs. Garten also asked him to review the statements and the underlying assumptions that went into the valuations. TT 2043-2046. In preparing the 2020 supporting data, Flores worked with Garten, Adam Rosen, Weisselberg, McConney, and Patrick Birney. TT 2046.
When asked about specific actions, meetings, discussions, phone calls, methodologies, and valuations that went into preparing the supporting data, Flores consistently and repeatedly testified that he “did not recall.” TT 2060-2063; 2075-2082, 2085-2089, 2750-2751.
What Flores did not recall is memorialized in emails and voicemails. Flores repeatedly denied any recollection of performing a cash flow analysis of Niketown in 2020 and denied any recollection of McConney asking him to come up with additional reasoning to justify using a four percent cap rate on Niketown in the 2020 valuations. He was then confronted with a voicemail message that McConney left for him on Christmas Eve of 2020, asking Flores to come up with additional reasoning to justify using the four percent cap rate on Niketown. When presented with the voicemail, Flores still claimed not to remember any such events. TT 2748- 2756.
Similarly, he denied recalling having worked on the 2021 SFC supporting data. He was then confronted with a voicemail message that he left for Patrick Birney on August 2, 2021, stating that Eric Trump had asked Flores to reach out to Birney about preparing the 2021 SFC data. TT 2756-2759. Again, Flores claimed this voicemail did not refresh his recollection on whether he was involved in preparing the 2021 SFC. TT 2759.
Flores was also a conduit with a firm, Marvin F. Poer & Company (“Poer”), that handled property tax assessment appeals in Florida for the Trump Organization. TT 2762; PX 3211. In 2020, the property appraiser determined the market value of Doral to be $78 million, a fact of which, emails reveal, Flores was acutely aware. PX 3209, PX 3211. Notwithstanding, the supporting data for the 2020 and 2021 SFCs value Doral at $345 million and $297 million, respectively. PX 857, 1501. Flores denied any recollection of this, despite the emails that demonstrate his active participation. TT 2772-2773.
In 2020, the Trump Organization hired Poer to file an appeal of the 2020 tax assessment of Mara-Lago, claiming that the assessed, taxed value of $26.6 million was too high. PX 3170, 3214, 3041 at ¶ 199. As part of the appeal, the Trump Organization explicitly stated that the property was commercial, and not residential. PX 3170. Two months after filing the appeal, the Trump Organization withdrew it, stating that it agreed with the $26.6 million determination of value. PX 3170. 3214; TT 2774- 2777. Flores conceded that that “determination was based on Mar-aLago being categorized as a commercial property.” TT 2776-2777.
When presented with additional emails and documents found in Flores’ possession that unquestionably reveal that he absolutely understood that Mar-a-Lago was exclusively a commercial, not residential, property, Flores continued to deny any recollection, stating “[t]hat’s what the email says. I don’t recall.” TT 2777-2781; PX 1382. Notwithstanding, every SFC from 2011-2021 valued Mar-a-Lago not only as if it could be sold as a private residence, but also as if there were no deed restrictions burdening it; the SFCs’ values for that decade range from $405 million to $739 million. PX 788, 793, 708, 719, 731, 742, 758, 774, 843, 857, 1501.
Overall, Flores was not a credible witness, and the Court finds it highly unlikely that none of the documentary evidence with which Flores was confronted revived his recollection as to his participation in any of the aforementioned activities.
Michael Cohen
Michael Cohen joined the Trump Organization in 2007 as executive vice president and special counsel to Donald Trump. 24 TT 2191, 2195-2197. During his entire tenure at the Trump Organization, Cohen reported directly to Donald Trump. TT 2197.
In 2018, Cohen pleaded guilty, in the federal district court for the Southern District of New York, to several counts of tax evasion, one count of misrepresentation to a financial institution, two counts of violating campaign finance laws, and one count of misrepresentation to Congress. Cohen cooperated with the government and was sentenced to 36 months of incarceration. TT 2184-2188.
The “reverse engineering” conversations took place in meetings amongst Donald Trump, Weisselberg, and Cohen. Cohen testified that Donald Trump would intentionally give indirect instructions (i.e., “He would look at the total assets and he would say, ‘I’m actually not worth four and a half billion dollars. I’m really worth more, like, six.”), which Cohen and Weisselberg understood as a directive to inflate the assets until the desired value was achieved. TT 2215- 2287, 2460-2461.26
As part of this reverse engineering scheme, Cohen said they would look at numbers being achieved elsewhere, find the highest price per square foot achieved in New York City, and apply that price per square foot to Trump assets, even though the Trump properties were neither comparable nor similar. TT 2216-2217.
Cohen described the process of arbitrarily adding values to the asset categories on the SFC categories as follows:
I would sit down with Allen [Weisselberg] and we would make the changes. That document would then be photocopied that had all of the changes at which point in time Allen and I would return to Mr. Trump to demonstrate that we achieved or [were] close to the number that he was seeking and I had no use for that document any longer. TT 2218-2219.
Cohen said that each reverse engineering process would take several days, and that Weisselberg relied on McConney to assist him in adding value to the numbers on the supporting data for the SFCs. TT 2220-2221, 2230. Cohen further made clear that Donald Trump had to approve the final numbers before they went to Mazars to be used in the compilations. TT 2220.
Cohen specifically recalled working to reverse engineer the values of Trump Tower, Trump Park Avenue, Trump World Tower United Nations, 100 Central Park South, Seven Springs, and the Miss Universe Pageant. TT 2226-2227, 2340-2341.
Cohen was also a member of the “Team of Four” that was tasked with acquiring insurance on behalf of the Trump Organization. TT 2234-2239; PX 3119. When meeting with insurance representatives or brokers for the purpose of acquiring coverage, Weisselberg would permit the representatives only to view the SFCs at Trump Tower; they were not permitted to make copies or to keep the original. TT 2240. Cohen also described Donald Trump’s participation in the meetings with the insurance representatives, detailing an orchestrated routine wherein Donald Trump would intentionally come into the meetings three quarters of the way through to boast that he is richer than the insurance companies and should consider going self-insured, in an attempt to garner a lower premium from the insurance representatives. TT 2245, 2248-2249; PX 3166.
Michael Cohen was an important witness on behalf of the plaintiff, although hardly the linchpin that defendants have attempted to portray him to be. His testimony was significantly compromised by his having pleaded guilty to perjury and by some seeming contradictions in what he said at trial. However, carefully parsed, he testified that although Donald Trump did not expressly direct him to reverse engineer financial statements, he ordered him to do so indirectly, in his “mob voice.” Although the animosity between the witness and the defendant is palpable, providing Cohen with an incentive to lie, the Court found his testimony credible, based on the relaxed manner in which he testified, the general plausibility of his statements, and, most importantly, the way his testimony was corroborated by other trial evidence. A less-forgiving factfinder might have concluded differently, might not have believed a single word of a convicted perjurer. This factfinder does not believe that pleading guilty to perjury means that you can never tell the truth. Michael Cohen told the truth.
Footnotes for Michael Cohen Clown:
24 The Court lists Michael Cohen as a “party witness,” as he was a Trump Organization employee at all relevant times. However, the Court is mindful that Mr. Cohen is now adverse to defendants.
25 To reverse engineer, in this context, means to start with the desired result and end with the necessary numbers to achieve that result.
26 Cohen elaborated that Donald Trump “did not specifically state ‘Michael, go inflate the numbers,’” specifically testifying that “Donald Trump speaks like a mob boss and what he does is he tells you what he wants without specifically telling you. So[,] when he said to me ‘I’m worth more than five billion. I’m actually worth maybe six, maybe seven, could be eight,’ we understood what he wanted.” TT 2460- 2461.
David Orowitz
David Orowitz joined the Trump Organization in 2008 as a vice president of acquisition and development and worked his way up to senior vice-president of acquisition and development before leaving the Trump Organization in 2016. He was hired by Donald Trump, Jr. and promoted by “the Trump kids,” referring to Eric Trump, Donald Trump, Jr, and Ivanka Trump. TT 2941-2942. Throughout his tenure at the Trump Organization, he reported to Eric Trump, Trump, Jr., and Ivanka Trump. TT 2942.
Allen Weisselberg directed Orowitz to provide valuation information to Forbes, with the objective of “persuad[ing] Forbes that some of the assets were worth more than what [Forbes] originally were [sic] discussing valuing them at,” so that Donald Trump would be “represented higher on the listing” of the world’s richest people. TT 2944-2945.
Emails to the Trump Organization (Weisselberg, Ivanka Trump, and Orowitz) and Orowitz’s testimony confirm that the Trump Organization sought financing for Doral, Trump Chicago, and the Old Post Office from multiple lenders besides Deutsche Bank’s Private Wealth Management Division, and in each instance the terms offered by the commercial real estate arm of the banks were less favorable than the terms offered by Deutsche Bank Private Wealth Management, which required a personal guarantee from Donald Trump. PX 3232, 3233, 3235, 3239, 3241, 3243; TT 2976-2981, 2984-3005. For example, the Trump Organization understood that rates on Doral could be as high as the “low teens” without Donald Trump’s personal guarantee. TT 2954-2955, 3672-3681.
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https://nypost.com/2024/02/18/us-news/ceo-wins-autographed-gold-donald-trump-sneakers-after-13k-bid/
Russian CEO wins autographed golden Donald Trump sneakers after $9K bid
A Russian CEO has won an autographed pair of Donald Trump’s new golden sneakers after making an eye-watering bid.
Roman Sharf, the founder and CEO of luxury watch dealer, Luxury Bazaar, walked away with an autographed pair of Trump’s golden “Never Surrender high-tops” after placing a winning bid of $9,000 at Philadelphia’s Sneaker Con.
Trump announced the launch of the golden sneakers, which are part of his new shoe line, during a surprise appearance at the event on Saturday.
A video shared on social media shows Sharf smiling and speaking to members of the crowd as he showed off the golden sneakers after outbidding other buyers.
The shoes, which feature an American flag detail on the back, cost $399.
Limited to just 1000 pairs, the sneakers reportedly sold out less than two hours after the launch.
“We are going to have a winning celebration come this November, and I’ll be wearing these one-of-one Donald Trump-signed sneakers,” Sharf said after winning, according to Times Now World.
He later shared on social media he plans to eventually pass the shoes down to his children.
“But for now will display in the office,” he wrote on X.
Sharf, who was born in the Soviet Union and lives in Philadelphia, describes himself as “one of the world’s biggest grey market watch dealers” – which trades luxury watches “without being authorised by the brand to do so on their behalf”.
His business employs 30 staff and generates about $130 million in sales annually, he told WatchPro.
Trump was met with loud boos and cheers from the crowd when he introduced the shoe line on Saturday.
“I’ve wanted to do this for a long time,” the Republican frontrunner told the crowd.
“I have some incredible people that work with me on things, and they came up with this, and this is something I’ve been talking about for 12 years, 13 years. I think it’s gonna be a big success.”
His shoe line also includes a low-top style in either “T-Red” or “POTUS” white, both with a golden “45” on the side, which sell for $305 (US$199).
The website also features “Victory 47” perfume for $151 (US$99).
The announcement came after the former president was ordered by a New York judge to pay $544.5 million (US$355 million) for allegedly inflating his net worth to dupe banks and insurers.
Prior to trial, the judge had yanked Trump’s business license for the Trump Organization – issuing what attorneys described as the “corporate death penalty” – after finding him liable for New York Attorney-General Letitia James’ main claim of fraud.
But in Friday’s ruling, Judge Engoron reinstated Trump’s “business certificates” – and left it up to a third-party monitor to oversee the former President’s prized assets, such as Midtown’s Trump Tower and other iconic New York properties.
“This is a complete reversal from the last decision, and it is much more palatable for Trump,” said real estate lawyer Adam Leitman Bailey, who has sued Trump in the past.
“He went from ordering Trump to potentially have to sell all of his New York assets within a short amount of time, to just having a monitor oversee things without giving her direction on what she’s supposed to do.”
The ruling also bars Trump from being the CEO of Trump Organization – or holding any top business office in the state – for three years, but the ex-President could appoint someone else to run the company during that time, with the business staying in New York.
"Well, you tell him that I don't talk to suckas."
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
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another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Gives a whole new meaning to “Sneaker Con,” eh?
In reality, just another way to launder foreign money from Putin on the ritz.
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Trump legal news brief: Supreme Court keeps Michigan sanctions in place for pro-Trump lawyers Sidney Powell and Lin Wood
https://www.yahoo.com/news/trump-legal-news-brief-supreme-court-keeps-michigan-sanctions-in-place-for-pro-trump-lawyers-sidney-powell-and-lin-wood-203526696.htmlThe U.S. Supreme Court rejects an appeal by pro-Trump lawyers Sidney Powell, Lin Wood and five others that challenged the sanctions issued by a district judge over their bogus claims that the 2020 election Michigan had been rigged against Trump. Powell and Wood are also expected to testify in the Georgia election interference case against Trump and 14 co-defendants. Here are the latest legal developments involving the former president hoping to be reelected to the White House in 2024.
continues at the link...
"Well, you tell him that I don't talk to suckas."
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Clown Car II:
The Party Witnesses (Continued)
Ivanka Trump
Ivanka Trump began working for the Trump Organization in 2006 and continued working there until 2017, when she left to work in her father’s presidential administration. TT 3662.
She testified that she has not performed work for the Trump Organization since 2017, although she received payments from TTT Consulting after 2017, and she received a share of the profits upon the sale of the Old Post Office in 2022. TT 3666; PX 1373.
In 2011, Ivanka Trump was seeking financing for the Trump Organization to fund the Doral project. TT 3670-3692; PX 1266, 3232, 3243, 3247, 1289, 1433, 1067. Her husband, Jared Kushner, introduced her to Rosemary Vrablic, who worked in the Private Wealth Management Division of Deutsche Bank. TT 3670; PX 315.
Following an introductory meeting in fall 2011, in December, Vrablic emailed Ivanka Trump a proposed “Summary of Terms” for the Doral loan. PX 319, 315, 1129. Vrablic’s proposal made clear that any lending from the Private Wealth Management Division would require a personal guarantee. PX 319. The initial summary of terms proposed that Donald Trump maintain a minimum net worth of $3.0 billion; this was subsequently negotiated down to $2.5 billion in the final loan agreement. PX 319, 320. Despite being presented with ample emails and other documentary evidence demonstrating the critical role she played in the negotiation, Ms. Trump professed to have no memory of any of the events of the loan negotiation or the agreed upon terms.27 TT 3694-3707, 3710-3711; PX 3226, 332, 320.
In February 2016, Ivanka Trump contacted Vrablic about an additional unsecured loan on behalf of Donald Trump. PX 355, 352. Vrablic responded that, having run the request by the credit risk management team, an unsecured loan would not be possible, explaining “we do not have any large unsecured amounts such as this request in the entire [private banking] portfolio.” PX 355. Ivanka Trump, on behalf of the Trump Organization, implored Vrablic to have Deutsche Bank make an exception, to which Vrablic responded in April of 2016: “we are disappointed that the bank couldn’t make an exception in this case.” PX 558. Ivanka Trump again denied any recollection of these events, although she conceded she had no reason to believe that she did not send or receive the emails with which she was confronted. TT 3712-3717.
Ivanka Trump was presented with emails that demonstrated that in 2012 she actively participated in trying to secure a loan for the Chicago project. PX 3236, 3239, 477, 365, 3242. When confronted with these emails, Ms. Trump denied any recollection of their contents. TT 3724- 3734.
Emails exchanged between Deutsche Bank and the Trump Organization demonstrate that in 2012, Deutsche Bank offered dueling proposals to refinance an existing loan on the property: (1) a non-recourse loan from the commercial real estate group, secured only by the real estate, priced at LIBOR + 8 points; and (2) a recourse loan from the Private Wealth Management Division, with a full personal guarantee from Donald Trump, priced at LIBOR + 4 points. PX 470.
Emails and other documentary evidence similarly show Ivanka Trump’s active involvement in securing the bid for the Old Post Office and negotiating the terms thereof. PX 1288, 1429, 1431, 1302, 327, 1333. She consistently denied recalling the contents of documentary evidence that confirmed that she actively participated in events, even after she was confronted with the evidence. TT 3734-3738, 3747-3760, 3777-3782. In 2022, Ms. Trump received a profit payout of $4,013,024 from the sale of the Old Post Office. PX 1373; TT 3790-1391.
On direct examination by plaintiff, Ivanka Trump had no recollection of any of the events that gave rise to this action; no number of emails or documents with her signature served to refresh her recollection. Notably, on cross-examination by defendants’ counsel, Ms. Trump suddenly and vividly recalled details of the projects and her interactions with Vrablic. TT 3801-3810. For example, after testifying on direct examination that she could not recall any of the details of her father’s personal guarantee of the Old Post Office loan, on cross-examination, she suddenly recalled: “There was a step down of the guarant[ee], if I recall, once the property was operational.” TT 3761-3763, 3777-3782, 3810-3811.
Ivanka Trump was a thoughtful, articulate, and poised witness, but the Court found her inconsistent recall, depending on whether she was questioned by OAG or the defense, suspect. In any event, what Ms. Trump cannot recall is memorialized in contemporaneous emails and documents; in the absence of her memory, the documents speak for themselves.
Footnote for Ivanka Darlink Clown:
27 In an email dated December 15, 2011, Ivanka Trump forwarded the initial proposed terms received from Rosemary Vrablic to Allen Weisselberg, Jason Greenblatt, and David Orowitz, with the notation: “It doesn’t get better than this. lets [sic] discuss asap.” Greenblatt immediately responded to Ms. Trump’s email and expressed his reservations about entering into any loan that required a personal guarantee from Donald Trump. In a reply email later that day Ivanka Trump wrote: “That we have known from day one. We wanted to get a great rate and the only way to get proceeds/term and principle where we want them is to guarantee the deal.” PX 3226.
Kevin Sneddon
Trump International Realty employed Kevin Sneddon from 2011-2012 as the managing director of its brokerage office. TT 6602. He recalled Allen Weisselberg asking him to assess the value of Donald Trump’s Triplex apartment. PX 1052; TT 6619-6620. In response to the request, Sneddon asked Weisselberg if he could see the Triplex, to which Weisselberg responded that that was “not possible.” TT 6620. Sneddon then asked if Weisselberg could send him a floorplan or specs of the Triplex to evaluate, to which Weisselberg also said “no.” TT 6620. Sneddon then asked Weisselberg what size the Triplex was, to which Weisselberg responded “around 30,000 square feet.” TT 6620. Sneddon then used the 30,000 square foot number in ascertaining a value for the Triplex. TT 6620-6623.
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GoFundMe to help Trump pay $355M fraud fine reaches $668K in 4 days
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I think I read this was against their TOS.....
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
SEC approves Trump Truth Social deal for up to $10 billion
The SEC approved a merger of Truth Social and the Digital World Acquisition Corporation.
The United States Securities and Exchange Commission (SEC) has approved a merger of former President Donald Trump's social media platform, Truth Social, with Digital World Acquisition Corporation (DWAC), which is a Special Purpose Acquisition Company (SPAC).
There were two years of delay leading up to the deal because of an investigation into the company by regulators. Now the SEC has approved the merger of approximately $10 billion after the long wait on Wall Street, according to reporting from OANN.
The Trump Media & Technology Group, which owned both companies, intends to take Truth Social public in an initial public offering (IPO). In order to have it go through the process, Trump had to give up a lot of equity in the platform.
According to SEC filings, Trump will own about $79 million in shares of the business. DWAC shares were trading at around $45-47 per share as of Tuesday. Depending on how the IPO will go, Trump's ownership ranges between 60-70 percent of the company.
Ahead of the election, the platform could become a boon for Trump depending on how the results of the primary and 2024 race play out.