An expert witness supporting Donald Trump in his New York City civil fraud trial faced apparent contradictions under cross-examination on Friday, as reported by ABC News.
Steven Laposa took the stand to challenge what he deemed the State’s “flawed” interpretation of Trump’s financial documents. In a previous argument on Thursday, Laposa contended that the state erred by relying on the market value of Trump’s properties, suggesting that investment value should be considered instead.
The $250 million complaint from Attorney General Letitia James alleges that Trump inflated asset values to deceive lenders and investors, a charge the former president denies. However, the judge has already found Trump liable for fraud in a summary judgment, and the ongoing trial primarily focuses on determining damages.
During Friday’s cross-examination, state attorney Louis Solomon presented Trump’s financial document and requested Laposa to read from its notes section. The note stated, “Assets are stated at their estimated current values,” to which Laposa reportedly responded, “First time I’ve seen this.”
When shown a definition of “Estimated Current Value” and asked if it was equivalent to market value, Laposa replied, “It could be,” according to Messenger reporter Adam Klasfeld.
The apparent contradiction deepened when Solomon presented a video deposition from July 19, 2023, in which Laposa had previously testified that the two terms were synonymous, as noted by Klasfeld. The exchange in court raises questions about the consistency of Laposa’s statements and adds complexity to the ongoing trial.
Good morning from New York.
Another week of Trump's civil fraud trial is drawing to a close with testimony by defense expert Steven Laposa, who offered opinions yesterday about the transformation of the Old Post Office to Trump's former D.C. hotel.