Trump’s Own Witness in Fraud Trial Admits He Knows Nothing About Finances (Tori Otten, November 17, 2023, New Republic)
Laposa said the attorney general’s approach to valuation was “flawed” because it relied on a market value analysis of Trump’s properties. He argued it should have been based on the investment value, which takes into account the owner’s investment requirements.
When Laposa returned to the stand Friday, a lawyer for the attorney general’s office asked him if he had any experience reviewing personal financial statements. Laposa said no.
The lawyer, Louis Solomon, then asked if Laposa is or has ever been a certified appraiser. Again, Laposa said no.
Solomon cited Laposa’s initial deposition from July, in which he said that when “disparate valuations exist, it is prudent and common practice to examine the underlying assumptions.” Laposa admitted he had not done so with Trump’s valuations.
Laposa also revealed he had never seen the financial statements for Trump’s property at 40 Wall Street, which might make it difficult to value the property accurately. (On the stand Thursday, Laposa said that 40 Wall Street in Manhattan was also undervalued.)
It’s unclear what Trump’s legal team sought to accomplish by bringing in Laposa as an expert witness. His disastrous testimony reflects how much of the trial has gone for Trump.
Pretty hilarious that Never Trumpers pretended this was a weak case to try to establish their bona fides.