Organization's profits

Attorney general's office raises Trump Organization's profits of sale of license for Bronx golf course

From CNN's Lauren del Valle, Kara Scannell and Jeremy Herb

Assistant Attorney General Colleen Faherty introduced the Trump Organization’s 2023 sale agreement with Bally’s Corporation for the company’s city licensing agreement of Donald Trump’s golf course in the Bronx, New York.

Faherty said the property, Trump Golf Links at Ferry Point Park, can be considered for disgorgement because the Trump Org. submitted annual financial attestations about Trump’s net worth to maintain the license based on the fraudulent financial statements.

Disgorgement is the repayment of ill-gotten gains based on the wrongdoing at issue in a civil case, which the court can order defendants to pay as a penalty.

Engoron overruled objections from Trump’s attorneys, arguing that the deal is irrelevant to the case.

Faherty asked Trump. Jr how much was made on the sale.

“I didn’t make anything,” Trump Jr. responded, laughing when Faherty asked how much he made.

Trump Jr. clarified the sale was for $60 million, but he doesn’t know what the company profited after expenses.

Trump Jr. was also asked about his signature on an agreement with Cushman & Wakefield, a firm hired to conduct an appraisal for the Trump Organization as it was considering a conservation easement on a portion of the Briarcliff Golf Course in Westchester, New York.

Earlier in the trial, an executive with Cushman & Wakefield testified at length about his conversations with Eric Trump about the value the firm placed on the property, which was much lower than the value the Trump Organization assigned to the property in its financial statements.

Trump Jr. said he signed the document because of his role as a senior executive, but he deferred to Eric Trump, who is expected to take the stand next.

"It was his project. He worked on it. He would know the details," Trump Jr testified.