Don Jr. Relies on His CPAs for Trump Org Finances

Article by Caleb Ecarma

In the New York civil fraud trial against the Trump family and their company, Donald Trump Jr. testified on Wednesday. He stated his involvement in the Trump Organization as performing "anything and everything", with the exception of handling accounting matters. In his words, he mentioned a lack of knowledge about GAAP (generally accepted accounting principles), stating his dependency on his CPAs for the same.

The case involves the eldest Trump son and Eric Trump, his younger brother, their father, as well as ten family-owned companies, along with Allen Weisselberg, the Trump Organization's ex-chief financial officer. According to the New York attorney general, Letitia James, the Trump Organization and its principal family members are accused of grossly inflating asset values to secure financing and other deals, resulting in a gain of hundreds of millions of dollars in loans.

In response to Colleen Faherty, the prosecutor's questions, Trump Jr. identified himself as a simple "real estate broker" and confessed neglecting much of his knowledge concerning New York's rent-stabilization laws. When asked about Weisselberg who was charged with grand larceny, tax fraud, and falsifying business records last year, Trump Jr. broadly referred to the former accountant's "legal issues".

Trump Jr. declared a lack of specific knowledge about the issues involving Weisselberg, adding, “He is no longer working at the Trump Organization.” Additionally, he expressed uncertainty about whether his father continued to be a trustee in the Donald J Trump Revocable Trust, a trust holding Donald Trump’s assets post his presidency in 2017. He even humorously admitted to not knowing how to correctly pronounce the word 'revocable'.

The state's case focuses on the two Trump brothers, who are the executive vice presidents of the company. After their father took presidencies in 2017, they began managing the Trump Organization. Eric Trump took charge of the company's daily operations while Donald Trump Jr. supervised several development deals. As stated by the state, Trump Jr., being a senior figure in the Trump Organization, was personally involved in the development and performance of key properties implicated in the case.

As per judge Engoron's ruling in September, agreeing with the attorney general's office, the Trump Organization and Trump committed fraud for years. The judge ordered the termination of the Trump Organisation's business licenses in New York as part of the summary judgment.

The Trump family strongly refutes all allegations against them. On Wednesday morning, Donald Trump demanded the dismissal of this "fake case" in a Truth Social statement. He further labelled the trial as rigged and condemned the conduct of the New York State attorney general and presiding Judge, Arthur Engoron.

Besides his position in the Trump Organization, Donald Trump Jr. has made a name for himself as a right-wing media personality. He hosts a weekly streaming show titled "Triggered", interviewing right-wing celebrities and making a commentary on topics that appeal to his audience. He is also the author of a political nonfiction book by the same name, and uses social media to critique those who oppose his father. In reaction to Engoron's summary judgment in September, he claimed that the system was biased against him.

The court is set to hear from three other Trump family members: Eric Trump on Thursday, Donald Trump on Monday, and Ivanka Trump on Wednesday. The state is expected to rest its case once all four family members have taken the stand, according to the Associated Press.