Fashion

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

Published

11 months ago

2023-11-20

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.”

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.

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.

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.

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.

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)

Fashion

Exploring the Best Mechanical Watches in Today’s Market

Published

1 week ago

2024-10-02

Geoff Thomas

Curiously enough, despite the arrival of the smart watch with all its multitasking allure and its flashy functionality, mechanical watches have grown a lot in popularity over the past few years.

And though the Quartz revolution has made watches so much more affordable and accessible to everybody, the advance in manufacturing technology has brought to us in recent decades some outstanding mechanical timepieces that rival the affordability of higher-end Quartz ones.

If you’re looking for a mechanical watch that is worth it and is also affordable, you’ve come to the right place because today, we’re going to be listing the best mechanical watches in 2024.

Best Mechanical Watches

Seiko Recraft

The Seiko Recraft is a wacky collection, out of which we prefer the SMK P27 with its lovely green dial and the rectangular case shape with slightly curved edges. It’s a rarity in the watch world, a vintage-inspired timepiece, reminiscent of the 1970s. The watch comes with only 50 meters of water resistance, an automatic movement without hacking function and without hand winding, and just a mineral crystal hard lex protecting the dial, but it’s an impressive timepiece nonetheless, and it costs a humble $275.

Tissot Everytime Swissmatic

An elegant and affordable piece that costs around $400. It’s one of the best mechanical timepieces you can get for the money. The simplicity of its dial, the clean and minimalistic esthetic with that lovely contrast between the stark the dial and the silver hue of the case, hands and indices, really make for a stunning watch. And inside, there’s a reliable Swiss automatic movement with a hearty power reserve of 70 hours with an accuracy of plus or minus 10 seconds a day, proving to be quite a capable mechanical caliber, especially for that price.

Citizen NJ0100 Automatic

One of the big Japanese names in affordable watches is Citizen and their NJ0100 Automatic proves to be quite a sight, powered by a Myota 8210 automatic movement with a water resistance of 50 meters. The price doesn’t exceed $150, so it’s perfect, but the fact that it’s an older model and not in production anymore makes it a little harder to find. But if you look around the internet, you should find plenty.

Seiko Presage Cocktail Time Blue Moon

The Seiko Presage Cocktail Time Blue Moon is a real stunner. It may be a little more expensive at $440, but still on the affordable side, and it’s worth all those bucks. It comes in a 40.5 millimeter stainless steel case with an automatic four R-3-5 movement as it’s ticking hot, reliable, and with a 41-hour power reserve. But the most captivating part of this timepiece is that dark blue sunburst style, giving the watch an artistic and captivating look.

Tufina Sahara Mechanical

The Tufina Sahara is among the most popular mechanical watches out there, one with a dressy look and plenty of variants to choose from. Our favorite is the rose gold one, which boasts a remarkable silver dial with an intricate skeleton composition, playing with light in such a way that it creates a mesmerizing show. On the technical side, it comes powered by a mechanical movement with 17 rubies, a 3 ATM water resistance, rhodium plated case, Alpha photoluminescent hands and a superb sapphire coated lens protecting the dial. The thin bezel and classic guarded crown gives this watch a very elegant look, and the fact that you can find it for about $990 makes it that much more appealing.

Orient Kamaso

The Orient Kamaso is a worthy divers watch, bringing some impressive features for less than $300. The sapphire crystal glass, for example, is a rare feature on affordable watches. Then there’s the rugged stainless steel case that is depth rated for 200 meters, another feature that usually comes with higher price tags. When it comes to appearance, the Kamaso has a stunning black, blue, red, or green sunburst dial, complemented by the rotating vessel, finished in the same color. Under the dial, there’s an automatic Orient Calibur F692, a movement that’s said to be reliable and accurate.

Dan Henry 1970 Automatic Diver

Remaining in the diving watch world, the Dan Henry 1970 Automatic Diver, a tribute to the Compressor case dive watchers that were the thing back in the late 1960s and early 1970s. It comes with the Seco NH-3 five automatic movement, water resistance of 200 meters, and in two case sizes, 40 millimeters and 44 millimeters. What we’re most impressed with is the beautiful and refreshing dial. It’s a classic, but it’s also one that departs from the similar designs that most divers have.

Fashion

Shein Faces Scrutiny In Italy Over Possible Greenwashing

Published

2 weeks ago

2024-09-26

Kiara Grace

Italy’s antitrust police are looking into Shein, the online fast fashion behemoth, for potentially making false statements about its environmental efforts.

The country’s independent competition commission said in a statement that the greenwashing investigation would focus on Infinite Styles Serves Co. Limited, a Dublin-based company that manages Shein’s website and app.

Shein Faces Scrutiny In Italy Over Possible Greenwashing

Shein was started in China and is now headquartered in Singapore. It has risen to prominence in the retail industry, thanks to a business model that enables it to produce garments in real-time and deliver it straight to clients from factories mostly in China.

That has allowed the company to sell things at extremely low prices and attract customers who can go to its website and buy $11 sweaters, $2 cellphone cases, and other items from a constantly updated range of stuff.

However, Shein’s detractors have long contended that the company’s tactics foster overconsumption and environmental waste, both of which the retailer claims it is attempting to address.

However, Italian regulators accuse the corporation of misleading customers with statements about the environmental sustainability of the apparel it sells. Environmental organisations have claimed that similar deceptive methods, known as greenwashing, occur throughout the corporate sector.

Italy’s anti-trust office, known in Italian as AGCM, claims that some of the environmental references on Shein’s Italian website are misleading or omit information. Images advertising Shein’s garments as sustainable are also made “through generic, vague, confused, and/or misleading environmental assertions,” according to the authority.

The watchdog specifically mentioned information from Shien’s “evoluShein” line, claiming that it may have misled consumers into believing that the clothing they purchased could be recycled.

AGCM also claimed that Shein’s website’s declared commitment to decarbonisation was in “apparent contradiction” with the increases in greenhouse gas emissions listed in Shein’s sustainability reports for 2022 and 2023.

The online shop stated that it would assist with the Italian probe.

Shein Faces Scrutiny In Italy Over Possible Greenwashing

“We would also like to take this opportunity to reaffirm our commitment to complying with the laws and regulations in the markets where we operate and to maintaining transparency with our customers,” Shein said in a news release.

Shein has also faced issues in other parts of Europe. Critics and advocacy groups, including Amnesty International UK, have protested the company’s potential listing on the London Stock Exchange due to labour and environmental issues.

SOURCE | AP

Fashion

Milan Fashion Week Closes With A Gala Promoting Sustainability

Published

3 weeks ago

2024-09-23

Kiara Grace

Milan. | AP News image

MILAN — Milan designers concluded six days of runway womenswear previews with a lavish award event at Milan’s renowned Teatro Alla Scala to recognize sustainable ideas.

The first incarnation of the awards was introduced in 2017 to recognise green innovation in an industry traditionally associated with excess, as well as improve brand communication about efforts being taken to reduce their carbon footprint.

This week also celebrated the second annual Black Carpet Awards, which recognize excellence among people of color living and working in Italy as a method of fostering equity.

Black Carpet Awards Return
British fashion designer Ib Kamara and Angolan supermodel Maria Borges presented awards at the second edition of the Black Carpet Awards, which recognize the contributions of people of color working in Italy across a variety of sectors.

Honourees included shot-putter Danielle Madam, actor Alberto Malachino, educator Cinzia Adanna Ebonine, who founded a platform to promote inclusive education, Justin Randolph Thompson, the founder of Black History Month Florence, and Alice Edun, the founder of Italy’s first curly haircare brand.

Despite the multinational audience, many of the prize recipients delivered their speeches in Italian, seeing it as a political decision to highlight their full integration and self-identification as Italians.

milan

Milan Fashion Week Closes With A Gala Promoting Sustainability

“It remains correct to bet on the competencies of young Italians of foreign origin, in a context like Italy that too often marginalises or seeks to make us invisible,” Adanna Ebonine remarked. “This award makes me seen in my entirety, not just as a Black person who works in a prevalently white context, but as professional who tries to make a difference in her own way.”

Anna Wintour went by to meet the honourees before the evening ceremony.

Afro Fashion Week founder Michelle Francine Ngonmo, who launched the rewards, expressed her hope that additional sponsors will come forward so that future editions can include prize money.

Fashion-forward Ferrari
Ferrari’s fashion division uses automotive advancements to create luxury garment collections aimed at brand enthusiasts.

Rocco Iannone, Ferrari Style’s creative director, presents supple leather looks inspired by racing vehicle interiors. This season’s innovations include treated leather for a worn-in, grease-monkey look and denim with fibres pulled in lines to produce tactile pinstripes. The preferred attachment remains the hard-case clutch fashioned like a sports vehicle.

“Performance for us is craftsmanship, and it is conveyed through fabrics,” Iannone explained.

Tokyo James promotes imperfection.
Tokyo James, a British-Nigerian designer, mocked the fashion industry’s pursuit of perfection with a collection featuring minor misalignments, such as faulty seams.

“We have to stop pursuing perfection all the time,” he stated. “It’s a fight against the way the industry operates. “We need to be more fluid.”

Tokyo James made his Milan debut a few seasons ago, during what appeared to be a Renaissance of Black designers on the Italian fashion scene. He is one of the few that remain.

“I hope for better days,” James admitted backstage.

Milan Fashion Week Closes With A Gala Promoting Sustainability

Francesca Liberatore provides sculptured looks.
Francesca Liberatore pays tribute to her father, artist Bruno Liberatore, with a collection featuring his pyramidal forms as the leitmotif.

Models wore stylised bell skirts with jutting pyramids over knitwear for a lively, playful style that evolved into a more serious and wearable tiny version with pink cotton panels. Liberatore created flower motifs that were stitched white-on-white “to highlight the significance of roots.”

“It was a personal story, with my father,” Liberatore explained.

SOURCE | AP