2:05 PM ET, November 8, 2023
Highlights of Ivanka Trump’s testimony so far
By CNN’s Lauren Del Valle, Cara Scannell and Jeremy Herb
Ivanka Trump spent about two hours on the witness stand Wednesday in her father’s civil fraud trial, answering questions about her role in the Trump Organization and an apartment she rented in one of her father’s buildings.
The former president’s daughter is no longer a defendant in the case, but is the latest witness the New York attorney general’s office plans to call in its case against Trump, his sons and his businesses.
The case is currently on a lunch break.
Here are the highlights of her testimony so far:
Questions about financing loans through Deutsche Bank: She was questioned at length about financing loans for the Doral Golf Resort & Spa in Florida through Deutsche Bank.
The loans are a key part of the case because they require Trump to provide annual financial statements — and the attorney general alleges those statements were falsified to inflate Trump’s net worth and get better interest rates on the loans.
AG attorney Louis Solomon showed email messages Ivanka Trump had while shopping around potential financing terms from several lenders to fund the Trump Org. for the Doral property. Donald Trump’s financial statements have been shared with some of the potential creditors.
Lewis Solomon, a lawyer for the attorney general’s office, showed emails during questioning in which Ivanka Trump offered to lower the required net worth for her father under the loan agreement with Deutsche Bank.
Deutsche Bank’s final loan agreement requires Donald Trump, as guarantor, to maintain a minimum net worth of $2.5 billion.
An earlier draft of the loan terms proposed by the bank required Trump to maintain a net worth of $3 billion. Ivanka Trump proposed a change to lower the net worth requirement to $2 billion, in an email Solomon showed in court.
Penthouse Apartment: She has distanced herself from any knowledge of a discrepancy in the value of a penthouse she rented on Trump Park Avenue.
Ivanka Trump had an option to buy the condo for $8.5 million, but the value on Trump’s financial statement was $20.8 million. according to the attorney general’s civil complaint.
Solomon asked if the value of her purchase option was included in her father’s financial statement.
“As I told you a year and a half ago, I wasn’t involved in his financial statement, so I can’t say what was or wasn’t taken into account,” she replied.
Old Post Office Project: She acknowledged that the General Services Administration had requested “clarification on several issues” about Donald Trump’s financial statements submitted with an offer to lease the old Washington post office.
Ivanka Trump said she remembers going to Washington to give a presentation to the GSA about the Trump Org. proposal for the building.
She and her father spoke at the presentation meeting with GSA officials, she said.
“Do you remember that meeting discussing the financial statements of Donald J. Trump in any shape or form?” Solomon asked.
“No, I don’t remember that,” she said.
Ivanka Trump said she remembers the December 2011 meeting as a big-picture presentation, “bringing the project to life.”
“Not financial statements or anything like that,” she said