Ivanka Trump once worried that her father, Donald Trump, might not be wealthy enough to buy… - Hindustan Times
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Ivanka Trump once worried that her father, Donald Trump, might not be wealthy enough to buy…

Sep 04, 2024 02:21 PM IST

During a civil fraud trial, Ivanka Trump questioned her father, Donald Trump's wealth in relation to a 2011 golf estate purchase.

On Wednesday, Ivanka Trump expressed concerns that her father, Donald Trump, might not have been wealthy enough to secure a real estate transaction when he sought to purchase a golf estate in Florida back in 2011.

Ivanka Trump raised concerns about her father's wealth during a civil fraud trial, stating he may not have been wealthy enough for a 2011 golf estate purchase.(AP File Photo)
Ivanka Trump raised concerns about her father's wealth during a civil fraud trial, stating he may not have been wealthy enough for a 2011 golf estate purchase.(AP File Photo)

While appearing for the civil fraud trial, over the course of five hours, Ivanka was questioned by the New York attorney general about her father's finances and the loans he obtained, which are central to the civil fraud lawsuit against the Trump Organization.

The New York state attorneys presented emails and other evidence supporting their claim that Trump and his company inflated his net worth by as much as $2.2 billion, per Reuters. An email presented in court also revealed that Ivanka Trump had suggested lowering the net worth requirement to $2 billion.

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The questioning, led by Louis Solomon, an attorney with the Florida attorney general's office, focused on loans provided by Deutsche Bank to finance the development of the Doral Golf Resort & Spa in Florida.

Although it appeared that Ivanka had some involvement with her father's annual financial statements, she emphasized that “I would assume he would have personal financial statements. Those weren’t things that I was privy to.”

Ivanka distanced himself from her father's civil fraud

The ex-prez's elder daughter attempted to separate herself from the questionable valuation methods that the judge overseeing the trial had already deemed fraudulent. While she acknowledged her role in facilitating real estate transactions for the Trump Organization, she denied any involvement in determining her father’s net worth.

“I generally understood that there was a personal guarantee. This level of granularity was not something that I can sit here today and say that I recall,” she clarified.

Ivanka also recounted, “They [Deutsche Bank] were quite excited about it. They sent teams of people down to tour the property to visit the property and to experience it in advance of our purchase.”

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The state attorney general alleges that Trump falsified loan statements to exaggerate his wealth, thereby securing more favourable loan terms. The final agreement for the Deutsche Bank loan stipulated that Trump, as the guarantor, maintain a minimum net worth of $2.5 billion. Initially, the bank proposed a condition requiring Trump to maintain a net worth of $3 billion.

In 2011, Donald Trump reported a net worth of $4.2 billion on his financial statement.

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