During his bank fraud trial in New York, Donald Trump’s lawyers said ex-controller Jeff McConney wasn’t an expert on real estate values—except that was his job for Trump.
Jeffrey McConneyNow, McConney is in a precarious position, because the attorney general’s law enforcement effort also targets him directly. Alongside his former boss, he is a defendant in James’ $250 million, given that the accountant was the one who routinely tallied up the estimated values of dozens of Trump properties—many of which were deliberately
“Can we agree, Mr. McConney, that by adding the income from the lease from Dean & DeLuca into your valuation that you double-counted the Dean & DeLuca income in your valuation?” Amer asked. The idea that the Trump Organization’s long-time bean counter would be oblivious to the inner workings of real estate valuations seemed implausible, given that documents presented at trial showed that he was the key conduit to getting those very valuations compiled into Trump’s annual statements of financial condition.
For days, state investigators have been laying out how the Trump Organization fudged its numbers before turning the books over to its outside accountantat MazarsUSA. There, the firm would sign off on Trump’s personal financial statements and give them the aura of authenticity. It was McConney’s job to prepare the spreadsheets that listed properties, associated bank account totals, and estimated values.
But McConney admitted to intentionally deleting that last column before sending it over to Mazars—ensuring the outside firm could only see the pie-in-the-sky prices Trump requested, not the market values that reflected what someone would actually pay for those luxury condos.
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