Elie Honig Flames Trump After Witness Testifies He Used Forbes Article to Show Net Worth: ‘Does Not Cut It’

Former President Donald Trump used a Forbes article in an attempt to “prove” his net worth when he placed a bid to buy the Buffalo Bills, according to testimony heard in his civil fraud trial on Tuesday.

Don Cornwell of Morgan Stanley said in court that Trump gave Bills executives copies of a Forbes article as evidence of his net worth, rather than personal financial statements.

Trump and the Trump Organization are on trial in a civil case in New York. Last month, the judge in the case ruled Trump committed fraud by overstating the value of his assets to obtain favorable terms from lenders and insurance companies.

On Tuesday night, Jake Tapper asked CNN chief legal analyst Elie Honig about Cornwell’s testimony, which prosecutors used to highlight Trump’s history of inflating his worth.

“So, there’s this former Morgan Stanley executive who testified today that back when Trump was trying to buy the Buffalo Bills football team, he sends a letter claiming that his net worth was $8 billion,” Tapper said, incredulously. “And then in a meeting with the Buffalo Bills management, Trump handed out a Forbes article of the top-paid entertainers to back up that claim. Does this sort of testimony bolster what the prosecutors are alleging?”

“It does, Jake,” Honig replied. “That’s the heart of this case – that the inflations of value here were not 10%, 20%, were not a matter of judgment, but were so over the top, that they cannot be defended, that they classify as fraud. And using a Forbes magazine or any magazine article to justify your net worth does not cut it in a court case.”

Watch above via CNN.

New: The Mediaite One-Sheet "Newsletter of Newsletters"
Your daily summary and analysis of what the many, many media newsletters are saying and reporting. Subscribe now!