Joe.My.God. LGBT News
The Hill reports:
The Trump Organization’s skewed statements of financial condition may have cost banks more than $168 million in interest, according to an expert witness hired by the New York attorney general’s office.
Michiel McCarty, chairman and CEO at the investment bank M.M. Dillon & Co., testified Wednesday to his “lost interest calculations” for banks that handed out loans to the Trump Organization. His calculations determined that across four Trump Organization assets, banks lost out on just over $168 million in interest.
The assets — 40 Wall Street, Trump’s Chicago hotel, the Old Post Office-turned-hotel and Trump’s golf course in Doral, Fla. — each lost banks tens of millions of dollars in interest across nearly a decade, according to McCarty’s assessment.
Read the full article.
Good morning from New York.
When the civil fraud trial began, NYAG’s counsel played this video deposition of Donald Trump Jr., who is expected to take the stand later today.
We’ll cover the proceedings live, @TheMessenger.
Here’s what to look out for https://t.co/i3vf695R8P pic.twitter.com/RaXAOz5LOS
— Adam Klasfeld (@KlasfeldReports) November 1, 2023
The NYAG’s counsel demonstrates the concept with this footnote from the judge’s ruling before trial ordering the dissolution of Trump’s corporate entities. pic.twitter.com/Ekltu2TDNZ
— Adam Klasfeld (@KlasfeldReports) November 1, 2023
With that preamble, the NYAG’s counsel puts an exhibit on the screen showing the “Lost Interest Calculation.”
Grand Total of Lost Interest: $168,040,168, broken down into Doral, Old Post Office, Chicago and 40 Wall.
— Adam Klasfeld (@KlasfeldReports) November 1, 2023