In a recent trial involving former U.S. President Donald Trump, a senior employee of Trump Organization Inc. has given testimony suggesting that Trump’s top aides had contemplated implementing a “presidential premium” to his property values post his 2016 election to the White House.
As per the employee’s statements, the premium, estimated to be as high as 35%, was discussed to uplift Trump’s net worth. The idea revolved around increasing the values of his properties based on his newly acquired presidential status.
The testimony was given by Patrick Birney, a vice president at the Trump Organization, during the trial of a civil fraud lawsuit against Trump by the state of New York. Birney clarified that these internal discussions, while noted in documentation, never went on to influence the company’s statements of financial condition.
The actual “presidential premium” being deliberated was as high as 35% in draft financial statements examined into evidence. However, it was never reflected in the submitted financial documents related to Trump’s assets.
Trump is currently accused in a civil fraud case which alleges him of inflating his assets. The matter is under trial and the latest disclosures are expected to add significant information to the proceedings.
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