Donald Trump Jr. and Eric Trump are testifying in a civil fraud trial in New York.
Donald Trump Jr. testified that he had little involvement in preparing financial documents at the family real estate company.
The attorney general is seeking a $250 million penalty.
The trial is investigating allegations that the Trump Organization and its top executives knowingly committed fraud.
Donald Trump Jr., executive vice president of the Trump Organization, has begun testifying in a civil fraud trial in New York. The trial, presided over by New York Judge Arthur Engoron, is investigating allegations that the Trump Organization and its top executives, including Donald Trump Jr. and his brother Eric, knowingly committed fraud by manipulating the value of assets on their financial statements to receive favorable treatment from banks and insurers.
The case, led by New York's attorney general, Letitia James, alleges that the Trumps conspired to exaggerate his wealth on financial statements to secure loans and make deals. The trial has already seen testimonies from other witnesses about the brothers' roles in the Trump Organization and their involvement in valuing their father's properties and preparing his financial statements.
Donald Trump Jr. testified that he had little involvement in preparing financial documents at the family real estate company. He stated that he provided cash-flow figures to company accountants while he and his brother Eric oversaw the Trump Organization during their father's presidency. However, he denied direct involvement in preparing the statements of financial condition of properties and other company assets, which prosecutors claim were fraudulently inflated.
The remaining issues to be resolved include whether the fraud was intentional and the penalty amount if the defendants are found liable. The attorney general is seeking a $250 million penalty. Ivanka Trump, who is not a defendant, is also scheduled to testify next week.
The lawsuit, led by New York Attorney General Letitia James, alleges that Donald Trump, his company, and top executives, including Eric and Donald Trump Jr., conspired to exaggerate his wealth on financial statements to secure loans and make deals.
The trial has already seen testimonies from other witnesses about the brothers' roles in the Trump Organization and their involvement in valuing their father's properties and preparing his financial statements.
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James, a Democrat, alleges that Donald Trump, his company and top executives, including Eric and Donald Trump Jr., conspired to exaggerate his wealth by billions of dollars on financial statements that were given to banks, insurers and others to secure loans and make deals.
He stated that he provided cash-flow figures to company accountants while he and his brother Eric oversaw the Trump Organization during their father's presidency.
However, he denied direct involvement in preparing the statements of financial condition of properties and other company assets, which prosecutors claim were fraudulently inflated.
The trial is investigating allegations that the Trump Organization and its top executives lied about the value of its properties.
The case, brought by the office of the New York attorney general, Letitia James, is focused on remaining claims of conspiracy, insurance fraud and falsifying business records.
The case, led by New York's attorney general, Letitia James, alleges that the Trumps manipulated the value of assets on their financial statements to receive favorable treatment from banks and insurers.
The attorney general is seeking a $250 million penalty.