Donald Trump Jr. testified on Wednesday that he did not work on his father's financial statements, which have become the focal point of a civil fraud trial threatening Donald Trump's real estate empire. The former president's son, who holds the position of executive vice president at the Trump Organization, is also a trustee of a trust established to hold the organization's assets when his father was in the White House. At least one of the annual financial statements bore language suggesting that the trustees were responsible for the document. However, Donald Trump Jr. stated that he did not recall ever working on any of the financial statements and had "no specific knowledge" of them.
The lawsuit revolves around allegations that the former president and his business misled banks and insurers by inflating his net worth on the financial statements. Donald Trump and other defendants, including his sons Donald Jr. and Eric, deny any wrongdoing. Donald Trump Jr. explained that he signed off on statements as a trustee but left the work to outside accountants and the company's then-finance chief, Allen Weisselberg.
The trial reflects the increasing divisiveness of the House of Representatives, where punishments once viewed as options of last resort are now being deployed more frequently, often in a partisan manner. The outcome of this case will determine whether both of these lawmakers join a small group of politicians who have been censured in the last two decades.
The lawsuit was brought by New York Attorney General Letitia James, who alleged that Donald Trump, his company, and top executives, including his sons, conspired to exaggerate his wealth by billions of dollars on his financial statements. The documents were presented to banks, insurers, and others to secure loans and make deals.
Donald Trump referred to the case as a "sham" and a "scam," and called it "a continuation of the single greatest witch hunt of all time." Defense lawyers will also have the opportunity to question the Trumps and may call them back as part of the defense case later.
During his testimony, Donald Trump Jr. seemed composed and made some lighthearted comments during questioning. More importantly, he appeared to be laying the groundwork to assign any irregularities in the financial statements to the Trump Organization's longtime outside accountant, Donald Bender. He also emphasized the company's reliance on Bender for accounting matters.
