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Eric Trump, the second eldest son of former President Donald Trump and the executive vice president of the Trump Organization, was behind the quadrupling of a Trump property in New York's value, according to the company's former accountant.
During his testimony in the $250 million civil fraud trial, former Trump Organization Comptroller Jeffrey McConney said that Eric was responsible for the jump in the value of the Seven Springs development in Westchester County, New York, testifying that it was after a phone conversation with the executive that a section of the estate went up in value from $25 million to $101 million.
McConney had also included seven mansions, estimated to be worth $23 million each, that had not been built yet in the calculations of the previous year, adding $161 million to the total value. The former comptroller said Eric also instructed him to continue to value those mansions the same way the following year.
Newsweek reached out to the Trump campaign via email for comment.
McConney, who began working with the Trump Organization in 1987 and retired in February of this year, is appearing in the trial as both a witness for the prosecution and the defense. Thus far, his testimony has revealed that he also increased the value of other properties by factoring unbuilt units as realized profits, like in the case of the Trump National Golf Club Westchester in Briarcliff Manor.
"[Eric] also, by the way, told you that the project was put on hold, right?" prosecutor Andrew Amer asked McConney on Friday. "But you're still accounting for the profit from those 71 mid-rise units that were put on hold, as if it's immediately realized as of June 30, 2013, correct?"
McConney answered "yes" to both questions.
Eric's attorneys have previously tried to defend those calls, saying their client did not believe those conversations with McConney were being used to make decisions about how the Trump Organization's assets should be calculated.
In a video of his deposition, Eric can be heard telling prosecutors, "I don't think I have had any involvement in statements of financial condition, to the best of my knowledge."
McConney is among those named in the lawsuit, but he's been granted immunity in exchange for helping New York Attorney General Letitia James' office. He has previously admitted to breaking the law to help the Trump Organization evade taxes.
On Friday, McConney said he continued to commit fraud at the request of Trump Organization chief financial officer Allen Weisselberg, who pleaded guilty to criminal charges related to tax fraud last year, over fears he would lose his job. Weisselberg took the stand on Tuesday.
About the writer
Katherine Fung is a Newsweek senior reporter based in New York City. She has covered U.S. politics and culture extensively. ... Read more