Donald Trump handed out copies of Forbes’ list of highest-paid entertainers as he huddled with Buffalo Bills executives to boost his bid to buy the team — while refusing to disclose his finances, it emerged in court Tuesday.
The red flag revelation came during the 77-year-old former president’s fraud trial in Manhattan on charges he inflated his worth to get better deals on things like loans and insurance — to get $250 million.
Trump was one of the final bidders for the upstate New York football team out of 86 bidders in 2014, according to a report by ABC News.
Trump, who claimed he had $8 billion at the time, eventually lost to billionaire Terry Pegula, who topped the former president’s $1 billion bid by $400 million.
As part of the bidding process, when bankers asked for proof of Trump’s worth to ensure he was solvent enough to survive, the former president’s lawyer Michael Cohen emailed them in 2014 saying, “We think it’s too early to sign the release form.” agreement is made until such time as we know that Mr. Trump is the final bidder.”
But during a meeting with the team’s executives, the real estate mogul had no problem removing a printout of the Forbes list — which may have featured Trump.
Donald Trump distributed printouts of Forbes’ list of highest-paid entertainers to help boost his bid to buy the Buffalo Bills, a banker testified Tuesday.John Nacion/NurPhoto/Shutterstock
“He gave us a circulation of the Forbes list of highest-paid entertainers,” Morgan Stanley’s Don Cornwell testified.
During opening statements at a hearing five weeks ago, attorneys with the nation’s Attorney General Letitia James argued that Trump inflated his assets on annual business statements — partly for nothing as he sought to climb the Forbes billionaires list.
Cornwell admitted under cross-examination by Trump’s lawyers that one of the reasons Trump lost the opportunity to buy the team was because he had a previous lawsuit against the NFL and because of his casino ties.
“You think President Trump has little chance of being approved by the NFL?” Trump’s lawyer Ivan Feris said.
Trump refused to hand over his finances to bankers when they reviewed a $1 billion bid for the team and because he claimed he was worth $8 billion. via REUTERS
“Yes,” replied Cornwell.
Trump’s lawyers have claimed that Trump’s failed attempt to buy Bills is unrelated to the Attorney General’s allegations against their client and therefore should not be considered at trial.
“It is the defense’s position that none of this is relevant to the cause of action in this case,” Feris said.
Kise argued that the Office of New York Attorney General Letitia James – which prosecuted the case – did not prove that banks working with Trump would have rejected his loan application even if they knew he had inflated his assets on annual business statements.
Kise highlighted testimony from Deutsche Bank executive Nicholas Haigh saying that lending money to the real estate tycoon was a “good credit decision.”
Trump’s lawyers argue that the Buffalo Bills saga has nothing to do with the fraud case against their famous client. POOL/AFP via Getty Images
But Judge Arthur Engoron responded, “Several witnesses have testified that they would have acted differently had they known the statement of financial condition was fraudulent.
“I think, to some extent, the defendant is whistling past the graveyard here,” the judge said.
AG James’ team alleges that from at least 2011 to 2021, Trump inflated his net worth by billions of dollars a year to get better loans and insurance terms and climb the Forbes billionaires list.
Trump has vehemently denied the allegations, saying he was the victim of a political witch hunt by the AG and judges.
Trump’s fraud trial is underway in Manhattan state court.AFP via Getty Images
Protesters appeared outside the courthouse at 60 Center St. Tuesday — Halloween — with signs reading “Trick or Treason” and “Trump is a Horror Show.”
In September, Engoron issued a surprising ruling that Trump had conducted a “fraud assessment” of his assets and found him liable for one of the major fraud claims by the AG.
In one example, the judge noted that Trump’s Mar-a-Lago golf estate had been valued between $426 million and $612 million on financial documents, while a Palm Beach appraiser had pegged the golf club’s value between $18 million and $27 million — a discrepancy of 2,300%.
As part of the ruling, Engoron said Trump’s business license in New York should be revoked. But this part of the decision was temporarily suspended by the appeals court. The Attorney General’s Office has agreed to allow the adjournment to continue until the trial is completed.
Protesters appeared outside the courthouse on Halloween morning with signs that read, “Trick or Treason” and “Trump is a Horror Show.” Gina M Randazzo/ZUMA / SplashNews.com
Trump, his two eldest sons and the family’s real estate empire are all accused in the case, and all three Trumps are scheduled to testify in the coming days. Trump’s daughter Ivanka is also set to testify.
Trump has attended several days of the trial, including to face his former “fixer” and his former personal lawyer Cohen, who testified against him. Trump was not in court on Tuesday.
The former president was also briefly called to the stand by Engoron to determine whether Trump had violated his limited-mouth order that prohibits him from speaking about court personnel. Engoron has twice issued fines totaling $15,000 against Trump for violating gag orders.
Trump’s two sons – Donald Trump Jr. and Eric Trump — are expected to take the stand this week while their father prepares to testify Monday.
Ivanka is scheduled to take the witness stand on November 8. He was previously a defendant in the case until an appeals court dismissed it because of the statute of limitations.
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Source: thtrangdai.edu.vn/en/
