Deutsche Bank aimed to strengthen its relationship with President Trump, and the attorney general asserted that, as of May 2022, the Trump Organization owed the bank approximately $340 million, with tens of millions spent annually to service the debt. Trump’s statements of financial condition have been a subject of dispute, with allegations of significant overstatements.
Unraveling the Separation Agreement
Solomon brought up Weisselberg’s 2022 guilty plea, where he faced several counts of falsifying business records and tax fraud. Weisselberg served just over three months in jail and had to pay back roughly $2 million in taxes and penalties. This plea led to Weisselberg parting ways with the Trump Organization under a separation agreement. During his testimony, Weisselberg faced questions about the specifics of the agreement, particularly regarding his cooperation with adverse claims against the company.
Solomon questioned whether the $2 million payment coincided with the amount Weisselberg had to pay in the criminal case, to which Weisselberg responded, “Pure coincidence.”
High-Stakes Legal Battle Continues
As the trial progresses before Justice Arthur Engoron, who has already found Trump, his adult sons, businesses, and two former executives liable for fraud, the nation watches with bated breath. This high-stakes legal battle remains far from over, focusing on insurance fraud, conspiracy, and false business records charges.
