![]() said it was his responsibility to act in the best interest of the beneficiary, his father, and confirmed he managed the assets in the trust.Īt one pointing in her questions, Faherty asked Trump Jr., “Are you familiar with the attorney general’s complaint in this case?” ![]() “He would have had authority to make decisions within the Trump Organization,” Trump Jr. He said Eric Trump has not been a trustee of the trust and confirmed his brother has not had authority to make decisions on behalf of the trust. testified he couldn't pinpoint anything specific. Since leaving office in 2021 the former president has made some decisions at the company, his son said, but Trump Jr. Weisselberg was removed as a trustee in 2021 upon his exit from the company. Trump's oldest son also confirmed he was named a trustee on his father's revocable trust after Trump took office. Weisselberg and Trump Jr. said he didn't know the particulars of Weisselberg's exit but said the former CFO did not retire and it was related to "legal issues he got himself into." and his brother Eric were on equal levels at the company, he said, but stuck to their own "silos." (Eric Trump is set to testify later this week.) reported to his father until 2017, when Donald Trump took office, and he said former Trump Organization Chief Financial Officer Allen Weisselberg would’ve been more senior than him at least until 2013. He confirmed that he's been an executive vice president at least since 2011. took the stand Wednesday afternoon, Assistant Attorney General Colleen Faherty spent her first hour of questions walking through the roles and responsibilities the former president’s son had at the Trump Organization and as a trustee to his father’s revocable trust formed when he entered the White House.įaherty went through Trump Jr.'s progression through the Trump Organization since joining around 2001. ![]() The Trump defense team has indicated they don’t plan to cross examine their client. testified for fewer than 90 minutes Wednesday afternoon and is expected to continue testifying on direct examination Thursday morning. The former president’s son again reiterated in a lengthy response to the question: “I wasn’t involved in compiling the statement of financial condition.” “I could have very well been involved in inferring that number but not knowing it was for that purpose,” he added. I could have sat there and gone through each one of the deals individually with Allen Weisselberg, Jeff McConney, Donald Bender, and given them an idea of what I believe the cash flow coming from those deals would have been worth, not even knowing it was for the purposes of this,” Trump Jr. “I didn’t give them a value of $246 million. said he might’ve discussed the deals with the accounting team because he was the primary person on most of them, but that he did so without knowing they’d use those values in the financial statements. if he gave the accountants the $246 million valuation attached to the licensing deals. The accountants worked on it, that’s what we pay them for," he said.įaherty narrowed in on the licensing developments on the financial statement, asking Trump Jr.
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