The Trump Organization's assistant controller, Donna Kidder, testified Tuesday in Donald Trump's fraud trial that the company's then-chief financial officer, Allen Weisselberg, told her to omit some of the country's financial fees from a ledger, ABC News reported.
According to Kidder, Weisselberg described the transaction as money being moved from 'one pocket to another' within the Trump Organization.
The ledger documents were related to the refinancing of 40 Wall Street, according to ABC News.
"Allen Weisselberg said that since they were affiliated entities, management fees could be omitted," Kidder said.
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"Lowering expenses would make the building's net operating income higher and, thereby, make the building more valuable, state attorneys said. The move helped the Trump Organization claim 40 Wall Street was worth $540 million when its true appraised value was $260 million, said the state," ABC News' report stated.
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Kidder also said that the value of a penthouse apartment that was rented by Ivanka Trump and Jared Kushner in 2011 was overvalued on financial reports.
Read the full report over at ABC News.
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