“Corruption Runs Deep”: Trump’s $250 Million Lawsuit Could Be About To See an Increase

Jo ShawNov 4, 2023

Minute Read

During his recent New York fraud trial testimony, Donald Trump Jr. disclosed that the Trump Organization sold the lease of Trump Golf Links in The Bronx to Bally’s Corporation for $60 million. In response to questions from Assistant Attorney General Colleen Faherty, Trump Jr. unveiled previously undisclosed details regarding the lease transfer. Faherty now believes that the sale is relevant to the concept of “disgorgement.” The question arises whether Attorney General James’ $250 million lawsuit against Trump will see an increase as a result.

Lease Transferred to Bally Corp.

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Before assuming office in January 2017, then-President-elect Trump appointed his sons, Donald Jr. and Eric, to manage his company. Earlier speculations that emerged in September about the lease transfer to Bally’s were substantiated in court.

Net Profit Remains Uncertain

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Nevertheless, the exact net profit from the transaction remains uncertain due to the significant expenses accrued by the Trump Organization during their venue management.

New York City Parks End Agreement Over Capitol Riots

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In 2015, a deal was struck between the city and the Trump Organization to extend the property lease for 20 years. However, in 2021, then-Mayor Bill de Blasio tried to terminate this agreement, citing the events of the January 6 Capitol riots as the reason.

Trump’s Name Will “No Longer Deface” Park

Trump Organization and the New York City Parks Department agreed to transfer the lease to Bally’s. New York City Comptroller Brad Lander expressed his views at the time, saying he was “delighted that Trump’s name will no longer deface city parkland.”

AG Reviewing Sale of Trump Golf Course

The Attorney General now wants to examine the finalized sale agreement of Trump Ferry Point to Bally’s, which took place in 2023. Including the transaction as part of the ongoing fraud trial has raised objections from the Trump camp.

Sale Is Relevant to Disgorgement

Assistant Attorney General Faherty contends that since deceptive information regarding the property was included in the financial statements during the relevant period, the sale holds significance in the context of disgorgement.

Profit From Sale Could Be Added as Remedy

Trump Jr. signed the sale agreement and claimed he didn’t benefit financially from it. Although the sale amounted to $60 million, he stated that he was unaware of the exact net profit after accounting for costs.

Eric Trump Denied He Worked on Financial Statements

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Eric Trump testified after his brother and consistently disavowed any role in the Trump Organization’s financial statements during his testimony. However, when presented with an old email requesting information about one of his father’s financial statements, he grew visibly frustrated and made an effort to provide clarification.

“I Have No Involvement.”

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“We’re a major organization, a massive real estate organization…yes, I’m fairly sure I understand that we have financial statements. Absolutely,” Eric Trump testified and insisted, “I had no involvement and never worked on my father’s statement of financial condition.”

Trump Jr Said Testimony “Went Really Well.”

Trump Jr. told reporters outside the courthouse that his testimony went “really well. “He further added, “If we were actually dealing with logic and reason, the way business is conducted.”

“Purely Political Persecution”

“Unfortunately, the attorney general has brought forth a case that is purely a political persecution,” Trump Jr. stated. “I think it’s a truly scary precedent for New York — for me, for example, before even having a day in court, I’m apparently guilty of fraud for relying on my accountants to do, wait for it, accounting.”

Judge Threatens Trump Lawyers With “Gag Order”

In addition to the testimony from Trump’s sons, Judge Arthur Engoron, presiding over the ongoing civil fraud trial, cautioned Trump’s defense attorney, Christopher Kise, stating there was “a bit of misogyny” in his comments regarding the female clerk. Judge Engoron reminded Kise that a prior gag order had already been issued, prohibiting public statements about his staff. He also warned of extending the gag order to include attorneys.

“Hurting My Very Good Children”

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When Trump Jr’s testimony concluded, Trump vented his anger on his social site Truth Social, stating, “Engoron is a wacko who is having a great time endlessly sanctioning, fining, & pushing around ‘TRUMP,’ hurting my very good children, & working to damage & defame me,”

Cohen’s Previous Testimony Against Trump’s Children

In previous testimony, Michael Cohen, Trump’s former lawyer, asserted that both of Trump’s sons reported directly to their father and divided business opportunities with their sister, Ivanka Trump. Cohen also indicated that they were involved in property valuation for the projects they oversaw, suggesting complicity in the alleged overvaluation of Trump Organization assets.

The “Tiny Soprano”

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Jimmy Kimmel also reacted to Trump Jr.’s testimony on his show on Wednesday, “calling him the “tiny Soprano.” Kimmel further joked that both Trump’s sons will testify in court… “and then Trump will claim he’s never met either one of them.”

Ivanka Trump Loses Appeal to Postpone Testimony

In a recent development, Ivanka Trump’s request to delay her testimony in the civil fraud lawsuit was denied by an appeals court. Her attorney had argued that the scheduled testimony, which fell during a school week, would impose “undue hardship” on her, but the request was swiftly denied.

Ivanka, a Primary Point of Contact

In court documents, the prosecution claimed that the eldest Trump daughter was a key liaison and negotiator in dealings with Deutsche Bank for three prominent loans central to the case. Ivanka Trump allegedly secured one of these loans for the Old Post Office Building in Washington, DC.

“Corruption Runs Deep”

An online user posted in response to the court proceedings, “If you commit a crime with every single transaction you perform for over 30 years, it’s bound to be difficult to keep track. No one could be reasonably expected to keep track of all that crime. It sure makes everyone look bad. These morons weren’t even really trying to hard to hide these crimes, they just expected to get away with it? Why is that? Corruption runs deep in New York and in banking. Obviously.”