OK - now in NY AG v Trump Org case, Trump expert says, Yes that is my report. Trump is at defense table; AG's lawyer objecting to testimony about what Deutsche Bank thought. Inner City Press will live tweet, thread below
Trump lawyer: Professor, are these differences expected?
Professor: Yes. And I think DB agreed with me. DB didn't say, This is fraudulent, we don't deal with him
Trump lawyer: Does it read, "Through our due diligence, we find an expansive-
Judge Engoran: Extensive
Trump lawyer: OK, does it read that?
Professor: Yes. There is no news in the complaint. We know that one valuation is different if you use a different way of measuring. There is no fraud. They are saying, he is in a strong financial position. This is the right way
All rise!
Judge Rakoff: We have an hour, at 4:30 I must attend training of our newly confirmed judge. First, we must address Mr Unny's submission - at the Daubert hearing, I struck Mr Unny as an expert...
Judge: So it seems like an unauthorized submission. But I will consider it on summary judgment.
SEC lawyer: Do Kwon and Terra committed fraud with Luna, with fake transactions
OK - now in crypto case of SEC v. Terraform Labs Pte Ltd. et al - defebdant want in a defi expert, Professor Parlor, from Berkeley. Inner City Press is on to Do Kwon cases (s) and will live tweet, thread below innercitypress.com/sdny127cronand…
SEC lawyer: Prof Parlour says the use case for UST was as a fiat replacement- but admits she's never seen that. We'll be calling Terra employees as witnesses.
Prof Christine Parlour takes the stand, and says (in British accept) I put the system design in context
Judge Rakoff: So we're talking crypto securities- I mean cryptocurrency, I'm sure no one is interested in that distinction (grins) This case alleges fraud
Parlour: The DiMaggio paper has a limited scope.
Judge Rakoff: I'll rule by Thanksgiving.
OK - now in NY AG v. Trump trial, Donald Trump Jr on the stand. Inner City Press live tweeted Trump Nov 7 and Ivanka Trump Nov 9 and now live Xing Don Junior, thread below
Don Jr: When my father became president, we dropped our int'l licensing. Probably a mistake, because people said we were still doing it. We protected the projects that were underway.
Trump lawyer: How would you describe the structure now?
Don Jr. My brother & I
Trump lawyer: Who is Mr. Weisselberg?
Don Jr.: He was with us for 50 years, until 2021.
Trump lawyer: How was your relationship with Mr. Weisselberg through 2017?
Don Jr.: Very positive. He was our accounting guy, along with Mazars
OK - now Ivanka Trump on the witness stand in NY AG trial - Inner City Press live tweeted Monday's Trump after publishing book on Trump Trial 1 @SDNYLIVE (below) & will live tweet this, thread below
NY AG lawyer: Are you familiar with GAAP?
Ivanka Trump: Yes.
NY AG lawyer: Have you performed work for the Trump Organization since 2017?
Ivanka Trump: I don't believe so, no.
NY AG lawyer: Have you had an interest in the DC Post Office project?
Ivanka Trump: Yes
NY AG lawyer: Between January 2017 to the present have you received any payments from the Trump Organization other than for the Old Post Office?
Ivanka Trump: No
NY AG lawyer: Are you familiar with Deutsche Bank?
Ivanka Trump: Yes. They lent to the Chicago project
OK - now Trump on the stand in NYS AG bench trial. Trump just said (testified?) "This is a very unfair trial, I hope the public is watching." Inner City Press published book on Trump Trial 1 @SDNYLIVE and will live tweet, thread below
Judge Engoran: We are not here to listen to what you have to say. You are supposed to answer
Trump's lawyer: We *are* here to hear what he has to day --
Judge Engoran: Sit down. Proceed.
NY AG lawyer: This says value based on leases
Trump: It's estimated value
NY AG lawyer: Was the $560 million valuation based on current accurate information?
Trump: Yes
NY AG lawyer: This document is about the mansion at Bedford Springs and says it is valued at $291 million. Was that true?
Trump: I thought it was too high, we lowered it