On Tuesday, Allen Weisselberg, the former Chief Financial Officer of the Trump Organization, provided testimony in the civil fraud trial against Donald Trump and his company. During his testimony, Weisselberg acknowledged that he had inflated the size of Trump’s penthouse in Manhattan’s Trump Tower by three times in financial statements provided to banks and insurers. However, he characterized this as a “minor” error that he had not given significant attention to.
Weisselberg, who is also a defendant in the lawsuit filed by New York Attorney General Letitia James, stated that he could not recall many details regarding the preparation of Trump’s annual financial statements, including conversations he had with Trump while finalizing the documents. Additionally, he indicated that he did not have access to real estate records and appraisals that would have accurately reflected the true size of the penthouse, which was 10,996 square feet, as opposed to the 30,000 square feet that Trump had claimed between 2012 and 2016.
The lawsuit filed by James asserts that Weisselberg orchestrated the manipulation of Trump’s financial statements to satisfy his demands for an increase in his net worth. Additionally, Weisselberg approved inflated valuations for assets despite evidence to the contrary. The lawsuit aims to divest Trump of his properties and prohibit him from engaging in any business activities in New York for a decade.
Weisselberg, who is currently receiving a severance package of $2 million from the Trump Organization, has maintained a low profile since serving a 100-day sentence for tax fraud earlier this year. He pleaded guilty to evading taxes on $1.7 million in job perks, including a luxurious Manhattan apartment, high-end vehicles, and his grandchildren’s tuition fees.
Trump, who attended the initial three days of the trial last week, did not appear in court to witness the testimony of his former loyal aide. He has refuted any allegations of wrongdoing and dismissed the lawsuit as a politically motivated witch hunt.
Summary Table:
| Property | Claimed size (sq ft) | Actual size (sq ft) | Difference |
|---|---|---|---|
| Penthouse | 30,000 | 10,996 | 19,004 |
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