Trump Exec: Sweeping Financial Reports No Longer Prepared

Donald Trump's company no longer prepares the sweeping financial statements that New York state contends were full of deceptive numbers for years, an executive testified Monday at the former president's civil fraud trial.

Trump's 2014 to 2021 “statements of financial condition” are at the heart of state Attorney General Letitia James' lawsuit against him and his company and some of its key figures. The defendants deny wrongdoing, but James says they misled lenders and insurers by giving them financial statements that greatly inflated the value of Trump's assets and overall net worth.

Nowadays, the Trump Organization continues to prepare various audits and other financial reports specific to some of its components, but “there is no roll-up financial statement of the company," said Mark Hawthorn, the chief operating officer of the Trump Organization’s hotel arm.

He wasn't asked why the comprehensive reports were no longer prepared, but said they are “not required by any lender, currently, or any constituency.”

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