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Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

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Donald Trump ‘s legal team completed the first week of his defense case in the New York civil fraud trial, continuing to build the former president’s defense around experts who provided a different interpretation of the rules the attorney general claims Trump and his business violated to commit fraud.

Trump’s lawyers called six expert witnesses on accounting, real estate, and surety insurance to refute the attorney general’s charges – and Judge Arthur Engoron’s earlier ruling – that the corporation committed fraud.

Engoron, on the other hand, ruled repeatedly in Trump’s favor in court this week, allowing witness testimony and evidentiary submissions over objections from the New York attorney general’s office.

Engoron frequently ascribed the moderate rulings to his efforts to avoid a case reversal or retrial.

“There’s no jury, no prejudice,” the judge declared. “Allow them to present their defense.”

trump

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

In a win for Trump, a New York appeals court temporarily lifted Engoron’s gag order on parties, preventing them from discussing his personnel.

Here’s what you need to know about the week in court:

On Monday, Donald Trump Jr. was the first witness in the defense case to take the stand for the second time at trial.

Trump Jr., also a named defendant, provided the court with a colorful history of the Trump Organization, much of which was gleaned from advertising materials on the company’s website.

The attorney general’s lawyers contended that most promotional photo-laden testimony was irrelevant, but Engoron found it important and fascinating.

trump

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

According to Trump Jr., his father created the family business by taking over run-down properties and utilizing his ” visionary ” skills to transform them into some of the best in the city, country, and, in some cases, the globe.

“He’s a real estate artist.” “He notices things that others don’t,” Trump Jr. remarked of his father.

An appellate judge granted a stay Thursday temporarily blocking Engoron’s gag order, which banned him and his lawyers from discussing the judge’s staff.

“Considering the constitutional and statutory rights at issue, an interim stay is granted,” First Judicial Department Associate Justice David Friedman wrote in a brief statement following an emergency hearing Thursday afternoon.

trump

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

Engoron already penalized the former president $15,000 for his public complaints about the law clerk who sits next to the judge on the bench and feeds him notes during the trial.

Accounting expert Jason Flemmons testified that there are multiple ways to calculate asset valuations under governing accounting principles, and Donald’s financial statements used compliant methodologies – and to the extent they didn’t, disclosures about those deviations from accounting standards were included in the reports, making them compliant as well.

While 95% of the assets listed on Donald’s 2014 personal financial statement deviated from generally accepted accounting principles (GAAP), the statements properly disclosed the deviations, according to Flemmons, a certified fraud examiner previously working for the Securities and Exchange Commission enforcement division.

“I don’t believe that I identified any GAAP departures within these supporting materials that were not covered by disclosure in the accountant’s report [or] notes of the finals statements,” Flemmons said in a written statement.

Flemmons claimed that Mazars, the Trump Organization’s long-time accounting firm, was required by accounting standards to comprehend the business’s procedure for valuing assets and find variances, an apparent attempt to place blame on them. He also testified that Mazars would have had enough information about the asset calculations from the Trump Organization to identify any problems at the time.

trump

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

Steven Collins, a contract procurement expert, also spoke briefly on Thursday on Donald’s winning bid for the General Services Administration contract for the Old Post Office building in Washington, DC, which he converted into a hotel. Collins stated that records demonstrate that GSA officials knew that Donald Trump’s financial statements showed GAAP deviations but awarded the contract to the Trump Organization.

Steve Witkoff, the former president’s longtime friend and luxury real estate developer, testified earlier this week as an expert in real estate development.

Witkoff said that the two first met in the 1980s when he bought Donald Trump a ham and Swiss cheese sandwich at a New York deli at 3 a.m. since he didn’t have any money on him.

According to Donald Trump’s lawyers, Witkoff’s testimony as a developer who assesses assets in regular business activity should add credibility to how the former president has indicated he evaluated his asset values in his personal financial statements. Witkoff stated that he evaluates properties mostly based on cash flow and what the property can be used for in the future.

He analyzes the worth of a project with an “opportunistic slant” that focuses on how much value can be added to the property.

Dr. Steven Laposa testified that he believes the attorney general’s civil fraud complaint is “flawed” because he alleges Donald Trump used inflated asset valuations on his financial statements based on the assertion that market value appraisals are “true” benchmarks without considering investment values.

trump

Takeaways From The First Week Of Trump’s Defense In The $250 Million Civil Fraud Trial

Investment values differ from market values because they are based on a set of investment criteria not necessarily representative of the market.

According to a real estate market analysis expert witness, it’s “very common” for appraisers to disagree over the value of the same home, which the former president’s team has claimed throughout the case.

However, during cross-examination on Friday, Assistant Attorney General Louis Solomon questioned the expert’s claim that the complaint was “biased” and “flawed” because the definitions of estimated current market value and market value are the same.

Furthermore, Donald’s financial statements say that the asset valuations in the financial statements are based on estimated current values.

Laposa said Friday that he had never seen that page of the former president’s financial statement before Solomon gave it to him.

SOURCE – (CNN)

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics, Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

Business

Luxury Jewelry Maker Cartier Doesn’t Give Stuff Away, But They Pretty Much Did For One Man In Mexico

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Global - VOR News Image

MEXICO CITY — Cartier, the luxury jewelry brand, is not known for giving out gifts, but in the case of one Mexican guy, they pretty much did.

Rogelio Villarreal was browsing Cartier’s website when he stumbled upon an offer that appeared too good to be true. “I broke out in a cold sweat,” he posted on his X account, previously known as Twitter.

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Ny Post – VOR News Image

Luxury Jewelry Maker Cartier Doesn’t Give Stuff Away, But They Pretty Much Did For One Man In Mexico

Cartier made a mistake and advertised gold-and-diamond earrings for 237 pesos ($14) rather than the exact price of 237,000 pesos ($14,000). Villarreal ordered two sets.

What ensued was months of back-and-forth, during which he claimed Cartier offered him a consolation gift instead of the jewelry, and Mexican officials supported his argument that the corporation should uphold the listed price.

Villarreal eventually received the earrings last week at his price, and he posted a video online of himself unwrapping them. But he quickly grew tired of the public attention, realizing that not all that glitters is gold, and posted on Monday, “Alright already, talk about something else, I’m tired of the earrings being the only thing anyone knows about my personality.”

Villarreal’s case had become a lightning rod online during a particularly polarizing period in Mexico, ahead of the June 2 presidential elections.

Some onlookers chastised Villarreal for taking advantage of what they perceived as a genuine error by the high-end jewelry manufacturer. Some claimed he should return the earrings or pay taxes on them. Some called him a thief.

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Jeb – VOR News Image

Luxury Jewelry Maker Cartier Doesn’t Give Stuff Away, But They Pretty Much Did For One Man In Mexico

Villarreal, a doctor doing his medical residency, claimed he had to fight for months to get the company to deliver and that it offered to give him a bottle of champagne instead.

The corporation did not reply to inquiries for comment.

“I have the worst luck in the world, and I’ve never made any money, and what I do have is because I bought it,” Villarreal posted on social media. However, he could now purchase two $14,000 sets of earrings for only around $28.

He says he gave one of them to his mom.

“It feels great and it’s cool not to be the underdog for once in my life,” Villarreal said.

Profeco’s representative, Jesús Montaño, validated Villarreal’s account of his struggle.

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Ebay – VOR News Image

Luxury Jewelry Maker Cartier Doesn’t Give Stuff Away, But They Pretty Much Did For One Man In Mexico

“He filed a complaint in December,” Montaño explained. “There is a conciliation hearing scheduled for May 3, but the consumer already received his purchase.”

When asked about ethics, Montaño stated that corporations “have to respect the published price.” If an error occurs, “it’s not the consumer’s fault.”

SOURCE – (AP)

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Fashion

Hermes Lawsuit Claims Luxury Retailer Reserves Its Famed Birkin Bags Only For Its Biggest Spenders

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Hermes is the object of a new lawsuit alleging the luxury retailer of only selling its renowned Birkin handbags to customers who had spent a lot of money at the store on other items.

The proposed federal class-action complaint, filed this week in San Francisco, claims that Hermes violates antitrust law by requiring buyers to purchase other items in the store before being permitted to purchase a Birkin bag from Hermes.

hermes

Hermes Lawsuit Claims Luxury Retailer Reserves Its Famed Birkin Bags Only For Its Biggest Spenders

Birkin handbags, created from leather by artisans in France, can cost tens of thousands or hundreds of thousands of dollars on the secondary market and are seen on the arms of celebrities such as Jennifer Lopez, Kim Kardashian, and Cardi B. The handbags may only be purchased in a Hermes store, not through its online.

However, the complaint contends that the average client must do more than just stroll into a Hermes store, see a Birkin on display, and purchase it. Instead, “deemed worthy” customers will be shown a Birkin in a private room.

According to the lawsuit, Hermes sales workers are responsible for identifying qualified customers to purchase Birkins.

hermes

Hermes Lawsuit Claims Luxury Retailer Reserves Its Famed Birkin Bags Only For Its Biggest Spenders

The lawsuit claims that “these sales associates are directed by Defendants to only offer Birkin handbags to consumers who have established a sufficient” purchase history” or “purchase profile” with Defendants or Defendants’ ancillary products such as shoes, scarves, belts, jewellery, and home goods.

While sales associates do not receive a commission for selling Birkins, the lawsuit claims that they are trained to utilize the Birkin purses to pressure customers into purchasing other products for which they are paid a 3% commission.

The company waited to immediately reply to a request for comment early Thursday.

hermes

Hermes Lawsuit Claims Luxury Retailer Reserves Its Famed Birkin Bags Only For Its Biggest Spenders

The lawsuit seeks class-action status for all residents of the United States who have purchased or been asked to acquire auxiliary products to purchase a Birkin over the last four years.

The plaintiffs are seeking specific monetary damages and a court order against the companies’ alleged selling techniques.

SOURCE – (AP)

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Celebrity

Iris Apfel, Fashion Icon Known For Her Eye-Catching Style, Dies At 102

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Iris Apfel, Fashion Icon

NEW YORK — Iris Apfel, a textile expert, interior designer, and fashion celebrity renowned for her unique style, has died. She was 102.

Lori Sale, Apfel’s business agent, confirmed her death and described her as “extraordinary.” No cause of death was specified. It was also confirmed on her verified Instagram page on Friday, a day after she celebrated her 102nd and a half birthday on Leap Day.

Apfel, born on August 29, 1921, was known for her irreverent, eye-catching costumes that combined haute couture with huge costume jewellery. A traditional Apfel ensemble would include a feather boa, strands of chunky beads, bangles, and a jacket embellished with Native American beadwork.

apfel

Iris Apfel, Fashion Icon Known For Her Eye-Catching Style, Dies At 102

With her large, round, black-rimmed glasses, bright red lipstick, and short white hair, she stood out at every fashion event she attended.

Her style has been the focus of museum exhibits and the documentary film “Iris,” directed by Albert Maysles.

“I’m not pretty, and I’ll never be pretty, but it doesn’t matter,” she commented at one point. “I’ve got something far better. “I have style.”

Apfel achieved late-life stardom on social media, accumulating nearly 3 million followers on Instagram, where her profile reads: “More is more & Less is a bore.” She gained 215,000 TikTok followers as she waxed eloquent about fashion and style and promoted previous collaborations.

“Being stylish and being fashionable are two entirely different things,” she stated in a TikTok video. “You can simply buy your way to being fashionable. I believe you have a natural sense of style. It denotes inventiveness and boldness.”

She never retired, saying “Today” that “I believe retiring at any age is a fate worse than death.” Just because a number appears does not mean you have to stop.

“Working with her was an honour of a lifetime.” “I shall miss her regular calls, always greeted with the usual question: “What have you got for me today?,” Sale said in a statement. “A testament to her voracious drive to work. She was a visionary in every sense of the term. She observed the world through a unique lens equipped with massive, unusual spectacles perched on her nose.”

Apfel was an expert in textiles and ancient fabrics. She and her husband Carl ran Old World Weavers, a textile manufacturing company specializing in restoration work, including projects at the White House for six U.S. residents. Apfel’s celebrity clients included Estee Lauder and Greta Garbo.

apfel

Iris Apfel, Fashion Icon Known For Her Eye-Catching Style, Dies At 102

Apfel’s celebrity skyrocketed in 2005 when the Metropolitan Museum of Art’s Costume Institute in New York City staged a show about her called “Rara Avis,” Latin for “rare bird.” The museum characterized her approach as “both witty and exuberantly idiosyncratic.”

Her individuality is generally seen in her mingling of high and low fashions—Dior haute couture with flea market finds, 19th-century church vestments with Dolce & Gabbana lizard trousers.” According to the museum, her “layered combinations” broke “aesthetic conventions” and “even at their most extreme and baroque” showed a “boldly graphic modernity.”

The Peabody Essex Museum in Salem, Massachusetts, was among several museums nationwide that held a touring version of the display. Apfel later donated hundreds of pieces to the Peabody, including couture gowns, to help them establish what she described as “a fabulous fashion collection.” The Museum of Fashion & Lifestyle, located near Apfel’s winter home in Palm Beach, Florida, also plans a gallery to display artefacts from her collection.

Apfel was born in New York City to Samuel and Sadye Barrel. Her mother owned a store.

apfel

Iris Apfel, Fashion Icon Known For Her Eye-Catching Style, Dies At 102

In her later years, Apfel appeared in advertisements for M.M.A.C. Cosmetics and Kate Spade, contributing to her reputation. She also created a line of accessories and jewellery for Home Shopping Network, worked with H&M on a collection of brightly coloured apparel, jewellery, and shoes that sold out in minutes, launched a makeup line with Ciaté London, an eyeglass collection with Zenni, and collaborated with Ruggable on floor coverings.

In a 2017 interview with APA.P.t the age of 95, she claimed her favourite modern designers were Ralph Rucci, Isabel Toledo, and Naeem Khan, but added, “I have so much, I don’t go looking.” When asked for fashion tips, she replied, “Everyone should find her own way. I’m a strong advocate for individualism. I don’t like trends. If you learn who you are, what you look like, and what you are capable of, you will know what to do.”

She dubbed herself the “accidental icon,” which inspired the title of a book she published in 2018, replete with keepsakes and style ideas. Odes to Apfel abound, ranging from a Barbie in her likeness to T-shirts, eyewear, artwork, and dolls.

Apfel’s husband died in 2015. They had no children.

SOURCE – (AP)

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