Live updates from Trump fraud trial: Trump distances himself from financial statements
The courtroom broke for lunch before Trump’s testimony resumed for the afternoon.
Trump testified during the morning session that he had assigned then-Trump Organization executives Jeffrey McConney and Allen Weisselberg to work with a “highly paid accounting firm” to manage his annual financial statements, thereby distancing himself of the preparation of the statements which are at the center of the file of the attorney general of New York.
“All I did was allow people to give what was necessary for them to make their statement,” Trump said.
Asked about the valuation of his Mar-a-Lago Club in Florida, which was assessed at a considerably lower value than Trump claimed because a restriction on the deed prevented it from being used as anything other than a social club, Trump defended its valuation by saying: “We have the right to turn it into a house.”
The former president also continued to tout the so-called “no value” clause in his financial statements, which he said ensured that banks would not take the statements at face value.
“We have a disclaimer that says, ‘Do your due diligence. Do not under any circumstances rely on anything here,'” Trump said in court, at one point waving a piece of paper in the air about the clause he had declared. justified it.
“I would love to read that if I could, your honor?” Trump asked Judge Engoron.
“No,” Engoron said, rejecting the request.
“No shock,” Trump joked.
