TRIAL - Day 12, Cushman & Wakefield, Ladder Capital
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Trial got a bit argumentative this morning. Judge admonishing Trump for making moaning noises during testimony, defense sort of accused Larson of perjury, AG put that straight on redirect but with furious objections by Kise, overruled by judge.
We're done with Larson now.
Next up is Jack Weisselberg of Ladder Capital. If the name sounds familiar, he's the son of Trump Org CFO Allen Weisselberg but also involved in lending to the Trump Org. Interesting conflicts of interest right there.
We're done with Larson now.
Next up is Jack Weisselberg of Ladder Capital. If the name sounds familiar, he's the son of Trump Org CFO Allen Weisselberg but also involved in lending to the Trump Org. Interesting conflicts of interest right there.
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Nicolas Haigh of Deutsche Bank testified on day 7 and day 8. There are other lenders and insurers to come (Ladder, Zurich, Morgan Stanley, Tokio Marine), and a few more on standby for rebuttal if needed.
Because out of all the cases, this is the one that affects him the most. It's destroying his image.
Like the last time he showed up, he's using it as an excuse to get out of sitting for a deposition somewhere else.
I believe Trump was supposed to give a deposition in a different case but used this one as an excuse to skip out on it. Does anyone recall which?
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Yes, it was this one. But he ducked out early yesterday, I think to do the deposition. The real reason he's there this week is to attempt to intimidate Michael Cohen on the stand, but Cohen didn't show up because of illness and of course Trump wouldn't back out because that would just make it obvious.
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Bit of a strange incident in court today
View: https://twitter.com/frankrunyeon/status/1714709135923577333
View: https://twitter.com/frankrunyeon/status/1714709135923577333
the fucking adoration these people have for this monster, it's insane
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Here's a flavour of today's testimony
View: https://twitter.com/DanAlexander21/status/1714734689938821281
View: https://twitter.com/DanAlexander21/status/1714736850118541605
View: https://twitter.com/DanAlexander21/status/1714734689938821281
View: https://twitter.com/DanAlexander21/status/1714736850118541605
Occasionally people will construct property and lease/rent the land it is put on. Usually the land lease is a long period of time like 50/100 years but with plenty of other terms/conditions.
I know we don't have the full story, but between this and what was posted previously, the read I'm getting about what happened is that Trump was moaning and grumbling and someone got fed up and "offered to assist" to try to get him to STFU. Y'know, a "can I help you?" kind of thing.
The sort of thing that would probably be acceptable with a defendant that isn't a former President.
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A court employee like this would know that the way you handle that is by passing a note up to the judge, not by walking into the well of the court and yelling.
TRIAL - Day 13, Ladder Capital, Cushman & Wakefield
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Day 13 summary
Witnesses
Jack Weisselberg (Ladder Capital, son of Allen Weisselberg)
Dave McArdle (Cushman & Wakefield)
By my reckoning, we've now heard from 9 of the state's 27 witnesses-in-chief (plus one rebuttal witness). So we're about 1/3 of the way through the state's case.
Witnesses
Jack Weisselberg (Ladder Capital, son of Allen Weisselberg)
Dave McArdle (Cushman & Wakefield)
By my reckoning, we've now heard from 9 of the state's 27 witnesses-in-chief (plus one rebuttal witness). So we're about 1/3 of the way through the state's case.
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Weisselberg, girllllll.... you are in trouble.
View: https://x.com/KlasfeldReports/status/1714977986120651173?s=20
View: https://x.com/KlasfeldReports/status/1714977986120651173?s=20
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Tensions seem to be running high already today
View: https://twitter.com/frankrunyeon/status/1715010618372083844
View: https://twitter.com/frankrunyeon/status/1715010618372083844
In the past he did it a lot because people he sued wouldn't be able to afford fighting him and he'd bully them into submission. That tactic obviously doesn't work here, but he's a narcissist that's had these strategies work for decades and lacks the capacity to reflect that he needs to change. So he instead believes that it must be someone else's fault his bullshit doesn't work anymore, and not the disaster of his own making that it obviously is.
To clarify, he didn't "fold" - he's put it on "pause" until January.
All the crazies now hate him for agreeing to this deal. He literally ended any chance he will ever have at it lol. It is kind of beautiful actually.
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More about that little fracas this morning. Kise forced to apologise.
View: https://twitter.com/frankrunyeon/status/1715082049495658807
View: https://twitter.com/frankrunyeon/status/1715082049495658807
So this is likely very bad for both Weisselberg and Trump right?
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Bad, but maybe not as bad as it sounds. AG concluded from Forbes reporting that Trump Org may have held stuff back from discovery, which would be very bad. But more recent Forbes reporting suggests that these may be emails and documents internal to Forbes, which Trump Org may never have had. So there may be new evidence, but maybe not evidence of contempt on the part of Trump Org.
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Evidence today about the Westchester golf club. Cushman valued it at $43m (Eric wanted it significantly higher), then Trump Org went silent and never asked for the final cut of the appraisal. AG wants it in evidence, Trump Org objects, but judge lets it in.
Figures from the indictment suggest they pitched it much higher in their financial statements. Maybe up to $200m, but I can't be sure I'm looking at the right figures here (there's a difference between the golf club itself and the undeveloped land on it).
This is where having Dan Alexander in court would help, but he's taken the day off court duty to look at spreadsheets instead. The other in-court reporters don't understand the financial stuff nearly so well.
Figures from the indictment suggest they pitched it much higher in their financial statements. Maybe up to $200m, but I can't be sure I'm looking at the right figures here (there's a difference between the golf club itself and the undeveloped land on it).
This is where having Dan Alexander in court would help, but he's taken the day off court duty to look at spreadsheets instead. The other in-court reporters don't understand the financial stuff nearly so well.
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Now they're discussing the Seven Springs estate. Again it seems to be that the valuation is based, at least in part, not on what the property is currently worth, but on what it would be worth if you built nice stuff on it (and apparently ignoring the cost of building the hypothetical stuff that you haven't actually built). Plus, they inflated the prices as well.And the numbers of nice things you could build on it.
And Eric makes an appearance.
View: https://twitter.com/KlasfeldReports/status/1715101156534329426
And yet again Trump Org received the draft appraisal, went quiet and never asked for the final version. They didn't want the formal appraisal on file apparently. Well, it's coming in evidence anyway guys!
And Eric makes an appearance.
View: https://twitter.com/KlasfeldReports/status/1715101156534329426
And yet again Trump Org received the draft appraisal, went quiet and never asked for the final version. They didn't want the formal appraisal on file apparently. Well, it's coming in evidence anyway guys!
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If they felt the as-complete value was incorrect, they could submit support for their value to the appraiser to potentially get it revised… but that's assuming you're trying not to commit fraud.
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Some cross examination for McArdle, but not much because it is the end of the day.
View: https://twitter.com/stewartbishop/status/1715105086660067340
View: https://twitter.com/stewartbishop/status/1715105086660067340
TRIAL - Day 14, Cushman & Wakefield, Trump Org VP
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Well today is off to a fine start. Trump had not taken down his reference to the Judge's clerk from his campaign websie - it stayed up until yesterday when someone reported it. Judge is very not happy.
View: https://twitter.com/stewartbishop/status/1715376657937170916
View: https://twitter.com/stewartbishop/status/1715376657937170916
Considering all the BS going on from trump in this case I doubt it'll fly
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We don't know that. Judge only heard about this this morning, and taking his time over it is the right thing to do.
In other news:
- Ivanka Trump has moved to quash her witness subpoena
- there's a bunch of correspondence on the docket about the admissibilioty of some of Patrick Birney's testimony (about Trump wanted his net worth to go up)
- there's a whole load of new filings on the docket this morning from Aileen Habba. Can't see what they are yet as the underlying documents haven't hit.
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