Takeaways From Lvanka Trump’s Testimony in the New York fraud trial,

Ivanka Trump’s appearance Wednesday was the highly anticipated conclusion to an unprecedented eight days of witness testimony that included Donald Trump and three of his adult children in the civil fraud trial brought by the New York attorney general’s office.

The AG’s office rested its case after hearing from the eldest Trump daughter, who was pressed about her role securing loans for the Trump Organization and a penthouse apartment she leased from her father.

Her appearance was not anywhere near contentious as her father’s on Monday – there were no fireworks or angry outbursts.

In all, the attorney general’s office elicited testimony from 25 witnesses in its case against Trump, his two adult sons and his business, culminating in the testimony from the Trumps as the final four witnesses. While Donald Trump, Donald Trump Jr. and Eric Trump are all co-defendants in the attorney general’s lawsuit seeking $250 million in damages and to bar the former president from doing business in the state, Ivanka Trump is no longer a co-defendant in the case.

Here are key takeaways from Ivanka Trump’s day in court:

AG focused on Deutsche Bank loan negotiations
Ivanka Trump was questioned at length by Louis Solomon, a lawyer with the attorney general’s office, about the financing of loans for the Doral Golf Resort & Spa in Florida through Deutsche Bank.

The loans are a key part of the case because they required Donald Trump to submit annual financial statements – and the attorney general alleges those statements were falsified to inflate Trump’s net worth and obtain better loan rates.

The final agreement for the Deutsche Bank loan required Donald Trump, as the guarantor, to maintain a minimum net worth of $2.5 billion.

One earlier draft of the loan terms proposed by the bank required Trump maintain a $3 billion net worth. Ivanka Trump proposed a change to lower the net worth requirement to $2 billion, in an email Solomon showed in court.

At the time, Trump’s net worth on his statement of his financial condition in 2011 was $4.2 billion.

Trump was able to get better terms for the Doral property with Deutsche Bank’s loan secured by Trump’s financial statements because he personally guaranteed the loans with the private wealth management group, which offered the option for a high net worth individual to back the loan.

The Trump Org. was offered different terms through Deutsche Bank’s commercial real estate arm for the same property.

Ivanka Trump distances herself from her apartment’s valuation on Donald Trump’s financial statement
Ivanka Trump said she had no knowledge about why a penthouse apartment she leased from her father’s Trump Park Avenue building was valued on Donald Trump’s financial statement at more than $12 million more than what she was able to purchase it for.

Ivanka Trump had a purchase option on the apartment for $8.5 million, but the value on Trump’s financial statement was $20.8 million, according to the attorney general’s civil complaint.

Solomon asked Ivanka Trump whether the value of her purchase option was factored into her father’s financial statement.

“As I had told you a year-and-a-half ago, I wasn’t involved in his statement of financial condition, so I can’t say what it took into account or didn’t take into account,” Ivanka Trump responded.

In her deposition last year, she said she knew that companies had financial statements, but she had no “specific” recollection that her father had personal statements of financial condition.

“Sure he has accountants who have all sorts of stuff who have all sorts of statement but no, sorry, I don’t specifically know what was prepared on his behalf for him as a person separate and distinct from the organization and the properties that I was working on, so no I don’t know how they did that and who prepared that and the mechanisms like that,” she testified.

Her testimony on the financial statements mirrored her brothers, who also both said they were unaware of the work that was done on Donald Trump’s statement of financial condition, even though they submitted information that was used for preparing the statements. READ MORE