Donald Trump Jr testifies over his alleged involvement in inflating Trump Organization wealth for decades
NEW YORK CITY, NEW YORK: Donald Trump Jr has testified in his father’s ongoing trial in a fraud case. He made his appearance on Wednesday morning, November 1, in the New York court and defended himself.
Assistant Attorney General Colleen Faherty questioned Donald Trump Jr while grilling him on his involvement in the financial documents at the center of the lawsuit.
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What did Donald Trump Jr say about GAAP?
Trump Jr was asked if he has an understanding of the generally accepted accounting principles (GAAP). He replied that whatever he knew on the subject was from his learning in ‘Accounting 101’ during his college days back in the 1990s.
The eldest son of Donald Trump is an executive vice president of the Trump Organization. The $250 million lawsuit holds Trump Jr and his brother Eric of knowingly participating in a scheme to inflate their father’s net worth.
This was done with the intention of getting financial benefits such as better loans and insurance policy terms, reports CNN.
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Answering accounting practices at the Trump Organization, Trump Jr said, “I leave it to my accountants. I rely on their opinions and their assessments to make those decisions."
Earlier, ‘Morning Joe’ host Mika Brzezinski addressed Donald Trump and his family’s court schedule.
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Why must Donald Trump take stand during the trial?
She asked conservative attorney George Conway on the matter. Brzezinski reported, “Right. This week, several members of the Trump family will be taking the stand in the $250 million civil fraud trial against the former president and his company.”
Brzezinski talked about the schedule and order in which Trump’s children will take the stand, “The New York State Attorney General's Office announced on Friday they plan on calling Trump's oldest children to the stand on separate days this week.”
She added, “Donald Trump Jr will testify this Wednesday, November 1, followed by Eric Trump on Thursday, November 2, and Ivanka Trump on Friday.”
“The former president himself is expected to be called next Monday. Prosecutors say they expect Trump will be their final witness,” the host added, before questioning Conway.
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“George, a couple of…I mean, there are so many questions here. Procedurally, first of all, can they not show up for some reason, family members? If they do, can they plead the Fifth and not answer questions? Or do they have to show up, and do they have to answer questions?” she asked
Conway responded to Brzezinski with clarity, “They have to show up, but they can take the Fifth Amendment. They are under subpoena. They're called, in trial terminology, hostile witnesses, witnesses not cooperating with the plaintiff, being the state of New York.”
Conway clarified again that Trump’s children “have to show up” because “they could be held in contempt and sent to jail if they violate that order.”