courtesy: the manila times
Advertisement
The New York Attorney General’s office walked Ivanka Trump through her role of securing financing for the Doral Gold Resort & Spa in Florida.
Louis Solomon, AG attorney, showed email communications Ivanka had in shopping around potential financing terms from several lenders to fund Trump Organisation for the Doral property.
Donald Trump’s financial statements were shared with some of the potential lenders.
Trump’s attorney, Chris Kise, raised objection for the prosecutor bringing in the documents related to potential funding that never went through in relation to the Doral property, labelling it irrelevant.
In regards to August 2011, wherein Ivanka had sent her father’s financial statement to an executive at Beal Bank for review, she was questioned if the bank had asked her or did she offer them. Ivanka said she did not recall.
In another set of questions, Solomon questioned the former advisor to the United States, if there had been a purchase option on her penthouse apartment at Trump Park Avenue for $8.5 million. She confirmed there was.
The attorney general’s civil complaint claims the penthouse to be valued at $20.8 million on Trump’s statement of financial condition.
Ivanka distanced herself from knowing anything about a discrepancy in the value. “As I had told you a year-and-a-half ago, I wasn’t involved in his statement of financial condition, so I can’t say what it took into account or didn’t take into account,” she responded.
Ivanka was also shown emails wherein she had suggested lowering her father’s net worth under a loan agreement with Deutsche Bank. The final agreement with the bank required Donald Trump, as guarantor, to maintain a minimum net worth of $2.5 billion.
At the time, Trump’s net worth on his statement of his financial condition in 2011 was $4.2 billion.
In the email submitted by Solomon in court, Ivanka had proposed to change former president’s net worth as per the requirement of $2 billion, which as per one earlier draft of the loan terms proposed by the bank showed Trump’s net worth at $3 billion.