Ivanka Trump quizzed over father’s net worth loan deals as she gives evidence in fraud case
Ivanka Trump took the witness stand on Wednesday in the $250m (£203m) civil fraud case that could lead to a ban on her father doing business in New York.
Prosecutors have alleged in the weeks-long trial that the former president falsely boosted his net worth by as much as $3.6bn (£2.9bn) to secure favourable loans from banks.
In contrast to her father’s ill-tempered and belligerent appearance in the witness box on Monday, Ms Trump spoke in measured, hushed tones – often repeating the phrase “I don’t recall” when asked about details of her work for the Trump Organisation, while defence lawyers raised repeated objections to evidence.
She had unsuccessfully attempted to resist an order to testify in the case, arguing she would “suffer undue hardship” from travelling to New York because she now lives in Florida with her three children.
Ms Trump was executive vice-president of the Trump Organisation and her father’s heir-apparent until his 2016 election victory, leaving the firm to serve as a White House adviser.
The court heard that in 2011, Ms Trump’s husband Jared Kushner introduced her to a wealth management contact at Deutsche Bank who helped draw up some of the loan agreements at issue in the case, which were contingent on guarantees of Mr Trump’s net worth.
Emails showed Ms Trump telling a colleague that the only way to get a “great rate” on a financing deal was if it was backed with a guarantee of her father’s net worth – which the deal ultimately stipulated must be above $2.5bn (£2bn).
Asked about her knowledge of her father’s financial statements, she told the court: “Those were not statements I was privy to… I had no involvement in his statement of financial condition and don’t know about the valuations that were taken into account”.
But Letitia James, the New York Attorney General, alleged that Ms Trump “negotiated loans to obtain favourable terms based on fraudulent statements of financial conditions”.
Despite attempts to “distance herself” from the firm, Ms James insisted that “the facts reveal she was very much involved, she benefited from it personally… she is inextricably tied to the Trump Organisation and to the properties she secured financing for.”
A preliminary ruling from Judge Arthur Engoron in September found that the former president deceived banks, insurers and others by massively overvaluing his assets while securing financing.
Ms Trump was initially listed as a co-defendant in the case alongside her father and adult brothers Eric and Donald Jr, who testified last week, but her name was dropped due to a statute of limitations over her involvement.
She kept her distance from her family on Wednesday, appearing as a third-party witness and not sitting at the defence table.
Never far from her father’s side during his spell in the White House, Ms Trump has played no role in his 2024 election campaign amid persistent reports that she and Mr Kushner were uncomfortable with many of his actions in the dying days of his presidency.
When her father announced his decision to run for the White House last year, Ms Trump said: “I love my father very much. This time around, I am choosing to prioritise my young children and the private life we are creating as a family. I do not plan to be involved in politics.”
She previously gave evidence to the committee investigating the 2021 storming of the US Capitol by Trump supporters, though the committee found she was not “entirely frank” or “forthcoming” in her testimony.
Ahead of the testimony, Mr Trump raged on his Truth Social platform about the decision to involve “my wonderful and beautiful daughter, Ivanka” by a “Trump Hating, out of control Clubhouse appointed Judge”.
