Jury told that Trump had lost $ 900 million in two years

(Bloomberg) — Donald Trump reported a total of $900 million in operating losses over two years, an accountant who handled the tax returns of some Trump Organization executives told a jury.

Read the most from Bloomberg

Donald Bender of Mazars USA LLP — who for years prepared Trump’s tax returns and helped prepare returns for former Trump Organization chief financial officer Alan Weiselberg — first defense in tax fraud trial of Trump payroll, two of the former president’s companies There were witnesses. Corp and Trump Corp. Trump was not charged.

With the trial entering its fourth week in state court in Manhattan, prosecutor Susan Hoffinger asked Bender during cross-examination if he remembered whether Trump had reported damages over the years.

“Do you remember in 2010 Donald Trump lost about $200 million?” He asked.

“Yeah,” said Bender.

“And in 2009, did Donald Trump have a deficit of about $700 million?” He asked.

“That sounds about right,” Bender said.

Read more: When the DA accuses his firms of tax fraud, Trump says fight it

The New York Times previously reported that Trump had suffered business losses, but Bender’s testimony was the first public confirmation from a professional who saw or helped prepare Trump’s tax returns.

Hoffinger asked Bender if he prepared Donald Trump’s tax returns for free. The accountant scoffed in surprise, shook his head. And said: “No.”

“It was a big comeback, a really big comeback, it’s high like this,” he said, raising his hands about three feet above his head.

Hoffinger showed Bender a series of spreadsheets kept by Trump companies that showed more than $1 million in annual bonuses paid to executives such as Wesselberg from various Trump-owned entities that he claimed were Was an independent contractor. Bender said he first saw the records when prosecutors showed them to him last year.

Hoffinger asked Bender how he would react if he saw him while he was getting ready.

“I probably would have had a heart attack,” Bender said. “I would be very concerned that they were reducing their income by these amounts.”

“What would you have done if you had known about or been provided with these spreadsheets?” Hoffinger asked.

Mazars “would have had a very serious conversation with the client,” he replied.

Defense attorneys tried to highlight that Bender, who served as the company’s external accountant for nearly 35 years, failed to protect companies from Wesselberg’s tax fraud. But during her questioning, Hoffinger tried to show that the accountant was also kept in the dark by Wesselberg about details that included renting apartments to the CFO as well as luxury cars.

“We did our due diligence,” Bender insisted. “I was not blindly accepting him. He said it was fair. We expected him to live up to the deal,” and to be honest, he said.

Testing is in recess for the Thanksgiving holiday. Bender continued his testimony on Monday.

Weiselberg, who has pleaded guilty to tax fraud charges, testified for the prosecution earlier during the trial. He told the jury he was hoping for a more lenient sentence of just 100 days in jail instead of the maximum 15 years in prison.

The case is People v. Trump Organization, 01473-2021, New York State Supreme Court (Manhattan).

(Update with testimony beginning in the eleventh paragraph.)

Read the most from Bloomberg Businessweek

©2022 Bloomberg L.P.

Leave a Comment

Your email address will not be published.

Then We Knew It Was on..” – Roman Reigns Shark Tank Keto Gummies Scam Alert? McDonald’s Halloween Buckets Could Be Back How to Watch Spacecraft Collide With Deep Space Asteroid Grand Theft Auto VI footage leaked after the hack Floyd Mayweather Jr boxer knocks out Mikuru Asakura martial artist