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Eric Trump Testifies He Wasn’t Aware Of Dad’s Financial Statements, But Emails Show Some Involvement
NEW YORK – Eric Trump, one of Donald Trump’s two sons tasked with running the family business, swore Thursday that he was never involved with financial statements that New York state officials allege illegally inflated the ex-president’s wealth and the value of the family business.
When presented with a decade-old email requesting information for one of his father’s financial statements, the angry son attempted to clarify.
“We’re a large organization, a massive real estate organization — yes, I believe I understand we have financial statements.” “Without a doubt,” Eric Trump testified during the family’s and company’s civil fraud trial. However, the executive vice president of the Trump Organisation maintained, “I had no involvement and never worked on my father’s statement of financial condition.”
Even though another Trump Organisation executive testified that Eric Trump was on a video conversation concerning his father’s financial statement as recently as 2021, the son said he couldn’t recall it.
“I’m on a thousand calls a day,” he admitted.
On a carefully watched and often turbulent day in the trial, Eric Trump joined their brother and colleague, Trump Organisation Executive Vice President Donald Trump Jr., to the testimony. After defense counsel criticized his legal clerk’s conduct in the case again, Judge Arthur Engoron suggested extending a gag order.
Eric Trump Testifies He Wasn’t Aware Of Dad’s Financial Statements, But Emails Show Some Involvement
Engoron forbade participants in the case from slandering his workers early in the trial after Donald Trump disparaged the clerk on social media. The former president was fined twice, totaling $15,000, for what the judge described as infractions.
Trump’s attorneys have often complained about the clerk passing notes to the judge during evidence, which they believe is inappropriate and unfair to them. Engoron claims an “absolutely unfettered right” to the clerk’s advice.
When the defense objected Thursday again, with Eric Trump calmly looking from the witness box, a sometimes table-pounding Engoron threatened to widen the gag order to include attorneys if anybody mentioned a member of his staff again.
The former president, his adult sons, and other defendants deny wrongdoing in the case that New York Attorney General Letitia James initiated. She accuses them of inflating the ex-president’s net worth on his annual “statement of financial condition” forms, which were distributed to banks, insurers, and others for them to accept loans and do business with him.
“So sad to see my sons being persecuted in a political witch hunt,” the Republican presidential candidate for 2024 posted Thursday on his Truth Social platform. Engoron and James are Democrats.
On Monday, Donald Trump and Ivanka Trump are both scheduled to testify. Late Thursday, an appeals court dismissed her request to postpone her testimony.
Eric Trump will take the stand again on Friday.
An appraiser testified earlier in the trial that the scion took an active interest in determining the worth of the Trump National Golf Club and Seven Springs estate, both in New York’s suburban Westchester County, a decade ago. According to the lawsuit, Donald Trump’s financial filings listed the properties at estimated values more than double the appraiser’s approximate calculations.
Eric Trump claimed that he couldn’t even recall the appraiser’s name, let alone the appraisals.
As he began his evidence, he stated that he “never had anything to do with the statement of financial condition,” that he didn’t believe he’d ever seen one, that he “was not personally aware” of the document, and that he “didn’t know anything about it, really, until this case came into fruition.”
“It’s not what I did for the company,” claimed the son, who has stated that he focuses on property development and management.
Andrew Amer, a state lawyer, then presented him with emails from former Trump Organisation controller Jeffrey McConney from 2013.
In one, McConney informed Eric Trump, who was then in a different job at the company, that he was “working on your father’s statement of financial condition” and required information about one of the company’s properties.
In another communication, McConney stated that he was “working on the notes to Mr. Trump’s annual financial statement” and requested a report on recent big building activity from Eric Trump and others.
“Yes, I know Jeff McConney does financial statements for my father,” Eric Trump admitted as he shifted back in his chair. He jumped right into his response about the “massive real estate organisation,” his voice rising as he spoke.
Emails and records showed he had responded to McConney’s inquiries. When pushed to admit that he was “very familiar” with the financial accounts, Eric Trump dismissed the texts as just responding to an accounting colleague’s request for a property description.
He explained, “I just don’t think it would have registered” that they were for the financial statement.
For his part, Donald Trump Jr. stated that he only interacted with the financial accounts in passing, relying on assurances from business finance officers and an independent accounting firm that the information was correct.
On his second day on the stand on Thursday, he stated that, notwithstanding James’ charges, he believed his father’s financial accounts were “materially accurate.” According to the former president, the paperwork, if anything, understated his riches.
Trump Jr. also claimed that the Trump Organisation paid Bally’s $60 million to acquire the right to operate a public golf course in New York City. The lease transfer details for the former Trump Golf Links Ferry Point in the Bronx were not previously publicized.
Trump Jr. told reporters outside the courthouse that his testimony went “really well, if we were actually dealing with logic and reason, the way business is conducted.”
“Unfortunately, the attorney general has brought forth a case that is purely a political persecution,” the general remarked. “I think it’s a truly scary precedent for New York — for me, for example, before even having a day in court, I’m apparently guilty of fraud for relying on my accountants to do, wait for it: accounting.”
SOURCE – (AP)
News
Cases Of The US Flu Season Are Rising, While Vaccinations Are Behind Schedule.
(VOR News) – The U.S. flu season has begun, according to health experts, who also noted a sharp rise in cases countrywide on Friday.
Significant increases were noted by the Centres for Disease Control and Prevention in a number of indicators, such as laboratory tests and ED visits. “For the past few weeks, it has been increasing steadily.” “Yes, we are in flu season right now,” CDC’s Alicia Budd said.
Last week, flu-like sickness was reported at elevated or very elevated levels in 13 states, roughly twice as many as the week before. Dr. William Schaffner, an infectious disease specialist at Vanderbilt University, says Tennessee is seeing a spike in sickness in the Nashville area.
Schaffner said, “Influenza cases have been increasing, but they have increased significantly in the last week.” He noted that up to 25% of patients in a nearby clinic, which is a gauge of illness trends, have flu-like symptoms.
An early focal point was Louisiana.
Our Lady of the Lake Regional Medical Centre, the largest private hospital in the state, in Baton Rouge, has infectious diseases specialist Dr. Catherine O’Neal, who said, “This week is a significant turning point as individuals are affected by the flu.” “Parents frequently say, ‘I have the flu and can’t go to work,’ and ‘Where can I get a flu test?'”
Fever, cough, sore throat, and other influenza-like symptoms are caused by a variety of viruses. COVID-19 is one of them. Another flu season common disease that causes cold-like symptoms but poses serious hazards to infants and the elderly is respiratory syncytial virus (RSV).
Recent CDC numbers indicate a decline in COVID-19 hospitalisations since the summer. According to CDC wastewater data, COVID-19 activity is modest nationwide but elevated in the Midwest.
Although RSV hospitalisations are still marginally more common than flu admissions, they started to rise before flu season cases and currently show signs of perhaps stabilising. RSV activity is low nationwide, but wastewater data shows that it is high in the South.
Based on a number of indicators, such as laboratory results from hospitalised patients and outpatient clinics, as well as the percentage of ED visits that resulted in an influenza diagnosis at discharge, the CDC declared the start of the flu season.
According to Budd, it is too early in the season to determine the effectiveness of the influenza vaccine, and no type of virus seems to be more common.
The flu season last winter was classified as “moderate” overall, but it continued for 21 weeks, and the CDC estimates that 28,000 people died from the virus. With 205 paediatric deaths reported, the situation was particularly dangerous for kids. It was the largest number ever recorded for a conventional influenza season.
The prolonged flu season was probably one of the reasons, Budd added.
The lack of influenza vaccinations was one of the contributing factors. The CDC reports that 80% of children who passed away and had verified vaccination status and were of the right age for flu shots were not completely immunised.
Children’s immunisation rates are drastically lower this year. About 41% of people had a flu shot as of December 7, which is similar to the percentage at the same time last year. For youngsters, the figure is steady, although it is lower than in the previous year, when 44% received an influenza vaccination, according to CDC data.
About 21% of adults and 11% of children are fully vaccinated against COVID-19, which is still a poor vaccination rate.
Influenza experts advise everyone to get vaccinated, especially as people get ready for holiday gatherings where respiratory diseases could spread widely.
“This virus also has the potential to spread from person to person at all those happy, pleasant, and heartwarming events,” Schaffner said. “flu season Vaccination remains a viable option.”
However, Louisiana’s health department announced on Friday that it was rescinding its COVID-19 and flu vaccination recommendations. According to an official, the department’s current position is that people should speak with their doctors about whether the immunisations are suitable for their situation.
The department’s spokesperson, Emma Herrock, did not respond to follow-up questions regarding the policy. Dr. Ralph Abraham, the state’s surgeon general, has expressed concerns in the past regarding the COVID-19 vaccine’s effectiveness and safety.
SOURCE: AP
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Social Security Change Approved By Senate Despite Fiscal Concerns
King Charles Could Millions Annually from Renting His Properties
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Social Security Change Approved By Senate Despite Fiscal Concerns
(VOR News) – On Saturday, the U.S. Congress passed a plan to increase Social Security retirement payouts for some retirees who receive public pensions, a move that critics say will further erode the program’s financial stability. Among these pensioners are former firefighters and police officers.
The Social Security Fairness Act was passed by the Senate on a bipartisan vote of 76-20 just after midnight. The act may lower payments for those receiving pensions and aims to repeal provisions that have existed for 20 years.
The House of Representatives passed the bill last month by a vote of 327-75, meaning that if the Senate also approves it, it would be delivered to Democratic President Joe Biden to become law.
The White House dodged enquiries regarding Social Security’s objectives.
In order to limit government benefits for certain higher-paid employees who are also getting pensions, the measure will reverse a long-standing change to the program. It has become increasingly common in recent years for municipal employees, such as postal workers and firefighters, to face pay limitations.
The vast majority of Americans do not take part in pension plans that provide a fixed return on investment, instead relying on their own savings and Social Security. According to data from the Department of Labour, only 10% of private sector employees in the US are covered by pension plans.
The new rules apply to about 3 percent of Social Security users, or more than 2.5 million people in the United States. Legislators are heavily influenced by the workers and retirees impacted by these rules, and the powerful advocacy organisations that speak for them have been using the legislative process to push for a legislative cure.
According to retirement experts, some retirees may be able to earn hundreds of dollars more in government benefits each month as a result of the move.
According to a Congressional Budget Office analysis, the bill is expected to cost approximately $196 billion over the next 10 years. As a result, federal budget experts are worried that the change could negatively affect the program’s already fragile financial status.
In an interview with the Bipartisan Policy Centre, Emerson Sprick, associate director of economic policy, said he was frustrated by “the overwhelming support in Congress for the contrary of what policy researchers concur on is quite frustrating.”
Instead of eliminating current formulas, we could improve them.
Among these changes is the Social Security Administration’s increased disclosure of the anticipated monetary benefits for these public sector workers.
The Committee for a Responsible Federal Budget, a nonpartisan fiscal think tank, has voiced concerns that the additional cost will impact the program’s ability to continue.
Maya MacGuineas, the organization’s leader, made the declaration, saying, “We are hastening towards our own fiscal ruin.”
“It is noteworthy that lawmakers are in a position to shorten the timeframe by six months, as there are just nine years left before the trust fund for the biggest program in the country runs out.”
Senator Ted Cruz, a Republican, said on the Senate floor on Wednesday that the bill in its current form would “throw granny over the cliff.”
According to what he stated, “every senator who votes to impose a burden of $200 billion on the Social Security Trust Fund is opting to put the interests of senior citizens who have contributed to Social Security and earned those benefits in jeopardy.”
Those who favoured the legislation said that the question of what would happen to Social Security could be settled later.
“Those are significantly longer-term concerns that we must collaboratively address,” a supporter of the idea Senator Michael Bennett told Reuters when asked if the move would affect the government’s capacity to be viable.
SOURCE: BR
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King Charles Could Millions Annually from Renting His Properties
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King Charles Could Millions Annually from Renting His Properties
A recent analysis suggests that King Charles might earn over £1 million each year by renting out royal properties to holidaymakers.
The Royal Family’s historic houses and mansions are popular holiday rentals, contributing significantly to the Palace’s revenue.
Pikl Insurance estimates that the royals may earn up to £118,775.85 per month, or around £1,425,310.20 per year, from their holiday rental portfolio. Even after accounting for cancellations, the monarchy is anticipated to generate a net annual income of somewhat more over £1.4 million.
Estimated Annual Rental Income of £1.4 Million
The four primary royal properties accepting public bookings are Balmoral Castle, Castle of Mey’s Captain House, Restormel Manor, and Dumfries House, according to Express.co.uk. Cottages at Balmoral Castle in Scotland are expected to generate £36,798.30 per month after accounting for cancellations.
According to the numbers, the 500-year-old Restormel Manor in Cornwall is the most profitable of them all, earning a solid £47,082 every month. The resort, located in the Fowey Valley, has four booking spaces and six converted barns.
Dumfries House in Ayrshire, Scotland, adds an estimated £31,185.63 and offers 25 rooms for booking. The Castle of Mey’s Captain House in the Scottish Highlands is estimated to generate a more modest £3,709.92 per month, despite the fact that the entire property is available for booking.
The analysts stated, “While the Royal Family’s primary role is undoubtedly to serve the nation, it is clear that their properties are also a valuable asset.” These estimates highlight the royal estate’s considerable financial potential and provide an intriguing peek into the monarchy’s corporate operations.”
Royal Family received £86.3 million from the taxpayer-funded Sovereign Grant in the previous fiscal year, according to official numbers released in July.
All revenues from the Crown Estate, which includes royal households, forestry, agriculture, and offshore wind, are paid directly to the Treasury, with a portion of this money, now 12%, returned to the Royal Family to finance their tasks.
The records also cover a period of jubilation, including the coronation and festivities surrounding the King and Queen’s crowning in May of last year.
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