Politics - News Analysis

Looks Like Ivanka Trump Wildly Inflated the Value of Her NYC Penthouse Apartment as Well

Well, perhaps this doesn’t come as a surprise, but the purported value of Ivanka Trump’s swanky penthouse on Park Avenue has come under scrutiny this week as testimony continues at trial in  New York Attorney General Letitia James’s $250 million civil fraud case against dear old Dad, Donald Trump.

Donald Bender, who formerly worked as an accountant for Donald Trump at the accounting firm Mazars USA, testified at the Manhattan Supreme Court Monday that he saw errors between the value listed for the penthouse on financial documents and its potential sale price, The New York Post reports. On the witness stand Bender explained that although he wasn’t in charge of auditing the company’s financials, he would “from time to time” tell Trump Organization officials that there were discrepancies in the company’s financial documents, a CNN report found.

Bender said on one occasion he pointed out that there was a difference regarding how Ivanka’s penthouse was valued on the financial documents compared to what it was listed as for a buying option for her.

James cited that discrepancy in her lawsuit against the 77-year-old former president, his sons Eric, and Donald Trump Jr., and the family company claiming that, from 2011 through 2021, they exaggerated Trump’s net worth so he could obtain more advantageous loan and insurance terms.

According to the lawsuit, Ivanka’s apartment on Trump Park Avenue was valued at $20.8 million per financial statements in both 2011 and 2012 even though there was a purchase option of $8.5 million in lease.

Her rental agreement specified that she could have purchased the penthouse for “substantially below the market rent for similar units in the building,” the suit states.

You may remember that Ivanka was previously a defendant in the lawsuit until an appeals court ruling dismissed the charges against her last June because they fell outside the statute of limitations.

And she and three other Trump family members in the case who are all listed as witnesses may be called to testify at the trial, which began Monday and is expected to last until December.

Mazars departed the Trump Organization in 2022, after finding that Trump’s “Statements of Financial Condition” from 2011 through 2020 “should no longer be relied on.”

Bender continued his testimony Tuesday, as a scowling Trump sat in attendance again in the Lower Manhattan courtroom. He wore a blue suit, a red tie, and a white shirt.

The twice-impeached and four-times indicted president and GOP presidential candidate — who continues to call the case a sham — apparently had several side conversations with his lawyer and fidgeted with papers as Bender’s questioning wore on.

James was also in attendance for the second day of the trial. In lieu of a jury, the case is being decided by Justice Arthur Engoron.

It’s encouraging to see Trump in court, any court for that matter. Now let’s hope justice prevails.

meet the author

Megan has lived in California, Nevada, Arizona, Texas, Louisiana, Mississippi, and Florida and she currently lives in Central America. Living in these places has informed her writing on politics, science, and history. She is currently owned by 15 cats and 3 dogs and regularly owns Trump supporters when she has the opportunity. She can be found on Twitter at https://twitter.com/GaiaLibra and Facebook at https://www.facebook.com/politicalsaurus

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