All posts tagged "louis solomon"

An expert witness for Donald Trump in his New York City civil fraud trial seemingly contradicted himself under cross examination Friday, according to reports

Steven Laposa took the stand to rebut what he called the State’s “flawed” interpretation of Trump’s financial condition documents, according to ABC News.

On Thursday, the real estate expert argued the state mistakenly relied on market value of Trump properties, which would be much lower than its investment value, according to the report.

Attorney General Letitia James' $250 million complaint contends Trump inflated the value of his assets to defraud lenders and investors. Trump denies wrongdoing, though the judge has already found him liable for fraud in a summary judgment. The trial is largely about determining damages.

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But state attorney Louis Solomon Friday whipped out Trump’s financial document Friday and demanded Laposa read from its notes section, according to ABC.

"Assets are stated at their estimated current values," read the note. Laposa then reportedly said, "First time I've seen this."

Laposa was then shown a definition of "Estimated Current Value" and asked if it was the same as market value, according to Messenger reporter Adam Klasfeld.

"It could be," Laposa said, according to Klasfeld.

That’s when Solomon showed Laposa a video deposition on this topic from July 19, 2023, Klasfled notes.

“Back then,” writes Klasfled, “Laposa testified that the two were synonymous.”