Linking back to the Generally Accepted Accounting Principles (GAAP), Solomon grills Weisselberg about Trump’s 2011 asset valuation. Weisselberg, clutching at straws, declares, “There are myriad ways to value assets.”
Cornered, when asked if Trump Organization’s financial statements aligned with GAAP, Weisselberg hesitates before admitting a glaring “No.”
11:00 a.m.: Solomon hones in on Trump’s extravagant Manhattan apartment, revealing a discrepancy in its value based on exaggerated square footage claims. Following a tense exchange, Weisselberg acknowledges the overstatement.
Probing further into Weisselberg’s early 2017 interactions with a Forbes journalist regarding Trump’s net worth, Solomon attempts to pin him down on the apartment’s square footage controversy. Weisselberg, however, remains elusive.
Trump’s NY Civil Fraud Update : Kickstarting Week Two of the Trial
10:20 a.m.: The electric atmosphere in Manhattan charges the air as the civil fraud trial enters its second week. The New York Attorney General, Letitia James, alleges that Trump bloated his net worth to deceive banks and insurers.
