Flanked by attorneys Alina Habba, left, and Chris Kiss, Donald Trump Jr. waits to testify Wednesday in New York Supreme Court.Donald Trump Jr. is expected to be asked about his involvement in financial statements that the New York attorney general alleges were grossly inflated.
He said he was aware of what GAAP is — “generally accepted accounting principles. It was accounting 101 in the late 1990s” — but other than that,”I know nothing about GAAP.” He said he leaves details on matters like that to his accountants.
Photographers were allowed in to the courtroom to take his picture before he got on the stand.”I should have worn makeup,” he quipped.The former president’s oldest son, Donald Trump Jr., arrived at the courthouse during the lunch break flanked by a number of uniformed officers. headtopics.com
He has had McCarty admit that he neither reviewed the deposition testimony nor consulted with various lenders or Trump Organization employees or execs in the course of his expert engagement. Suarez then admitted the loan agreements and amendments into evidence, after obtaining McCarty’s admissions that he reviewed them in connection with his testimony.Michiel McCarty, an expert witness for the state attorney general’s office, is explaining that the fraudulent statements of financial condition did not allow banks to accurately assess the risk of the loans.
Looking at loans on four Trump properties, McCarty estimated the banks lost out on $168 million in potential interest over the past decade. He presented a chart of the estimated losses in court. He also, perhaps not coincidentally, holds an MBA from an institution closely associated with Trump lore: the Wharton School at the University of Pennsylvania. That shared history will make it harder for the defense to characterize McCarty as insufficiently expert given that his professional background begins where Trump and Don Jr.’s training did as well. headtopics.com