The MeidasTouch Podcast - Trump Throws Son Eric UNDER THE BUS in New York AG Deposition

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Starting point is 00:02:15 is scheduled in the next 30 to 45 days in New York, brought by New York Attorney General Letitia James. I know everyone's been focused on the criminal proceedings, but let's not forget that this civil case where New York Attorney General Letitia James is seeking at least $250 million that's set to take place very, very soon. New York Attorney General Letitia James moved for summary judgment, saying there are no disputed facts that Donald Trump, his adult kids, other than Ivanka, she unfortunately got dismissed by New York's appellate division, but also Donald Trump's business entities engaged in fraudulent valuations. Donald Trump responded with his own motion for summary judgment, seeking to have the case dismissed.

Starting point is 00:03:00 And that's how we got this deposition that was taken of Donald Trump on April 13th, 2023, finally released. And again, Donald Trump just starts off throwing Eric Trump under the bus. So New York Attorney General Letitia James' office asks him, So is it a fair description of what the Trump Organization is that it is an umbrella organization? Answer, I think so, yes. Mr. Trump, are you currently the person with ultimate decision-making authority for the Trump Organization? Answer, no. Question, who would that be? Answer, my son Eric is much more involved with it than I am. I've been doing other things, and I guess you could say on something major, final decisions, whatever.

Starting point is 00:03:49 But I've been much less involved in it than over the last five years, five or six years than ever before. Question. Okay, well, I think we'll try to go through your role over time then. Answer. Okay. go through your role over time, then answer okay. And as they go over Donald Trump's role over time, he seeks to minimize his role over the past five to six years. One of the reasons that he does that, and he knows this because he acknowledges it during his deposition, is he wants to argue that the statute of limitations as it relates to him doesn't allow a lawsuit that would make the

Starting point is 00:04:29 lawsuit currently time barred. However, with respect to Eric Trump, happy to throw Eric under the bus and say, go sue Eric. Don't sue me. So that's what Trump is doing here. So then New York Attorney General's office's lawyer questions Trump. So you're saying you were too busy for the company? Answer, in a way, yeah. Yeah, I think you can say that. It's another way of saying it. I was very busy. I was considering this the most important job in the world, saving millions of lives. I think you would have a nuclear holocaust if I didn't deal with North Korea. I think you would have a nuclear war if I weren't elected. And I think you might have a nuclear war now if you want to know the truth. And every time he says that, he's absolutely lying.

Starting point is 00:05:16 But he's acting like he was too busy dealing with North Korea and not running the business. But Eric was. So if you want to ask about statement of financial conditions, go ask Eric or my other kids. Here's an example of that where the New York Attorney General's office is talking about the DC Postal Office turned into the Trump Hotel and then the subsequent sale of it. Here's a question that was asked. Okay. If you see below this email, it states, quote, see the attached updated spreadsheet. We don't have a spreadsheet attached to this email. Quote, assuming we get the $139 million in the title company today and combine it with the $383,000 of interest on the deposits that is already in the bank account, the amount of distributions should be the amount listed below. And that says DJT, $126 million. And then it lists your three

Starting point is 00:06:15 children, each getting about $4 million. Question, can I ask, do you know if the $126 million amount for you represents your full profit on that transaction, Mr. Trump? Answer, I don't know. And then Trump goes on to try to explain why he doesn't know. And he goes, especially as president, I had very little to do with statements of anything, with statements being released about me on the business. Question, okay, I'm just asking about this statement from February 15th, 2022, which was after you left the White House. Answer, yeah, and you're now post-presidency. What is the process of someone issuing a statement in your name?

Starting point is 00:07:03 Goes on to say, objection. He goes, I would say generally, I would look at it, see it. I may have looked at this, but I see so many things. I may have looked at this. I haven't read this now. I may have looked at this. If you have a family like I do, you know how much your loved ones depend on you. In a worst case scenario, you wouldn't want them to worry about money. PolicyGenius was built to modernize the life insurance industry. Their technology makes it easy to compare life insurance quotes from America's top insurers in just a few clicks to find your lowest prices. Now with PolicyGenius, you can find life insurance policies that

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Starting point is 00:08:46 New York Attorney General's office, so I'm just trying to understand, Mr. Trump, what that process looks like from your view. How would you go about determining the values of the assets that are listed in this statement or any statement of financial conditions? Answer. For the most part, my people did this. They would give me a statement. I would certainly look at it, but I had not a lot to do with it. I just didn't consider it important because of the worthless clause. I just didn't consider it an important statement. And it wouldn't be very hard to do a statement where every time he did a statement, you'd go out and it would be very hard, he goes. It would be very hard to do a statement where every time he did a statement, you'd go out and it would be very hard, he goes. It would be very hard to do a statement where every time you did a statement, you'd go out and hire appraisers and this and that.

Starting point is 00:09:35 You know, I mean, it would take you forever to do a statement. No, it wouldn't. Just for each property, hire an appraiser. Why would that take you forever to do it? Then Trump goes on to say, so you use common sense. You use some other things. People come up with the numbers. Sometimes they're right. Sometimes they're wrong. In this case, they were low because I mean, many of them, certainly in many of them, they were low. So he's referring to his people. So he's throwing his accountants.

Starting point is 00:10:00 He's throwing Eric. He's throwing other people. And he goes, I just use common sense. I would just look at it and just whatever. I would just say whatever the value is. It would be, why would I go seek an appraisal? I don't know, because maybe that's the way you appraise a property is by using an appraisal. And then Donald Trump says, I would say from 2015 on, because I started campaigning in 2015, as you know, I would say I had very little, if any, involvement. I just didn't have very much involvement.

Starting point is 00:10:28 And again, we had lots of cash. You know, banks were interesting. You don't have to do deals. If you don't do a deal, that's okay. You don't need banks. For instance, right now. So if I was going to do a deal now, generally, you'd sell finance to deal. Most deals you can do, you can sell finance to sell,

Starting point is 00:10:47 but it's sell finance if you have this kind of cash. Question, and what are the situations in which you would use a bank loan instead of your own cash? Well, the deal depends. Then when the questioner went into the specific deals, Donald Trump claimed not to know the specifics and would just say, I wasn't involved in the statement of financial conditions. Other people prepared. The people prepared it for me and they showed it to me. So I just don't know anything. Some other

Starting point is 00:11:15 notable moments in this deposition as well, like Trump claiming that the valuation of Mar-a-Lago, he says, was $1.25 billion. He claims Miami Doral was valued, he says he believes it's valued at billions of dollars. He believes that the NFT cards of himself, that a single card can sell for $82,500 for one single card. And he believes that there are lots of cards selling for over $23,000. And he believes that all you have to do is just use common sense for his properties. And he goes and just apply a valuation. And he goes, he didn't include his brand value, but he should have included his brand value in the statement of financial conditions, which he claims not to have looked at. But he goes, if you did, they would be worth like 10 times as much as they're ultimately

Starting point is 00:12:11 valued at there. So you can see why when looking at this, why New York Attorney General Letitia James feels confident that there are no disputed facts of his liability. You got Donald Trump basically claiming his position is going to be, I don't know anything about the statement of financial conditions. Other people did that for me. You just apply common sense. Eric did it. And then Eric ultimately is going to have to say that he's going to be put on the stand. And ultimately, Donald Trump does have the final decision-making authority here. Obviously, it's not Eric. I think that's going to come out of my opinion. That'll

Starting point is 00:12:49 come out in the testimony. And, you know, when you hear Donald Trump applying these bogus valuations, even bragging the way he is, it's just playing right into the hands of this is what he does in everything. Everything is a lie. Everything is an exaggeration. And I thought the strategy here in the deposition of just let Trump talk and just let him keep going on. You don't even need to do too much more. And Trump will walk himself into liability. Let me know what you think below. But clearly he's pointing the finger at Eric here. I don't just want to say that's happened. I want to show you the specific pages. So thanks for watching and going over this together. Go to MidasTouch.com for more breaking news. Also, check out our Patreon, P-A-T-R-E-O-N.com slash MidasTouch, spelled M-E-I-D-A-S-T-O-U-C-H.

Starting point is 00:13:42 Have a great day. Hey, Midas Mighty. Love this report? Continue the conversation by following us on Instagram, at Midas Touch, to keep up with the most important news of the day. What are you waiting for? Follow us now.

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The MeidasTouch Podcast - Trump Throws Son Eric UNDER THE BUS in New York AG Deposition

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