Ex-Trump Organization controller Jeffrey McConney cried after dismantling former President Donald Trump's claims about the value of Mar-a-Lago in court on Tuesday.
McConney took the stand to testify for the defense in the former president's civil business fraud case. New York Attorney General Letitia James is suing Trump for $250 million, accusing him of inflating his net worth by billions of dollars to obtain benefits such as better bank loans and reduced tax bills between 2011 and 2021. Trump maintains his innocence in the case, accusing prosecutors of targeting him for political purposes. He pleaded not guilty in this case as well as in the other three indictments he's facing.
During his testimony, McConney said the Trump Organization valued Trump's Mar-a-Lago estate as a residence, not a social club, reported The Messenger's Adam Klasfeld.
James has accused Trump of overvaluing the estate, and Trump has said the estate is valued as high as $1.5 billion. James says the estate is operated as a social club but was valued as a private residence to evade restrictions and taxes.
Former President Donald Trump prepares to testify in a New York courtroom on November 6, 2023. Trump’s witness on Tuesday cried after dismantling his claims about Mar-a-Lago. David Dee Delgado/Getty Images
McConney said his intention was to "always to reflect as best we could the value of these properties." He also said he does not remember how the estate was valued as a private residence rather than a club.
A short time later, McConney cried about the number of legal inquiries he is facing after being asked why he no longer works at the Trump Organization, Klasfeld said.
"I just want to relax and stop being accused of misrepresenting assets for the company that I was working for," he said. "To be hit with a negative comment every time is just really frustrating."
ABC News reported that McConney "broke down on the stand" over having his work questioned. He said he felt proud of his work at the Trump Organization and that numbers do not "represent fully what these assets are worth."
Judge Arthur Engoron, who is overseeing the case, ruled in September that Trump, his adult sons, their businesses and executives committed fraud and will now decide on six other accusations, including falsifying business records, insurance fraud, and conspiracy claims during the trial.
The trial is civil, not criminal, meaning Trump is not facing jail time. It began in October, with Trump testifying earlier this month. Now, after weeks of James's office making the case, Engoron has heard the defense's arguments for the past two weeks.
Update 11/21/23, 1:51 p.m. ET: This article was updated with additional information.
Bart_Yellowbeard on November 21st, 2023 at 19:42 UTC »
To quote the great legal mind of Fletcher Reede, "Stop breaking the law, asshole!"
Revolutionary-Ad4588 on November 21st, 2023 at 19:24 UTC »
“He said he felt proud of his work at the Trump Organization and that numbers do not "represent fully what these assets are worth."
That’s not how valuations work.
gfh110 on November 21st, 2023 at 18:45 UTC »
So wait... he was testifying in Trump's defense, but his testimony confirmed the AG's accusation?
That seems like the sort of thing the defense would want to avoid.