7 Basic Materials Stocks to Buy to Anchor Your Portfolio

The movement of basic materials stocks requires investors to keep a keen eye on the state of the economy to determine profitability. Raw materials such as plastic, steel, and lumber will always be in demand. Here are 7 stocks to take advantage of the growing demand!

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Trump's Niece, Legal Expert Weigh In On 'Potentially Damning Document' In NY Civil Fraud Case: 'Can't Think Of Bigger Smoking Gun'

Shanthi Rexaline
November 22, 2023

Former Trump Organization comptroller Jeff McConney testified earlier this week and said frustration over accusations of misrepresenting the company’s assets forced him to quit. He was testifying in the civil case against Donald Trump brought about by New York Attorney General Letitia James.

Donald Trump’s niece, Mary Trump, weighed in on the implication of a note reportedly written by McConney found in a document that inflated the former president’s assets by $3.5 billion and also contained “expansive evidence of fraud.”

What Happened: McConney’s note said “DJT TO GET FINAL REVIEW,” Mary Trump noted, adding that she sees this as a “potentially damning document.” Commenting on this “Call to Activism” Attorney Joe Gallina, who appeared as a guest in the “Deep Dives” series of interviews said, “I can't think of a bigger smoking gun.”

“The document is full of fraudulent information and written at the top of it is a note saying Donald Trump has to approve it,” he added.

Calling the Trump organization a “mom-and-pop operation,” Mary Trump said absolutely nothing gets signed off on without her uncle knowing about it or signing off on it.

Mary Trump said she sees this as a “note from hell” not only for her uncle but also for his adult kids, McConney and ex-Trump Organization CFO Allen Weisselberg. McConney’s testimony suggested the hierarchy for approval for Donald Trump’s net worth statement was himself followed by Weisselberg and the financial audit firm from Mazard USA, Mary Trump said.

Although McConney did not testify Donald Trump got the final review, his note clearly says that “Donald got final review,” she added.

Mary Trump, who is also a psychologist, said the state will argue that the note “puts Donald squarely in the chain of approval for the document.

See Also: Trump’s Niece Says Her Uncle Is ‘Actively Engineering A Coup’ Through Johnson As House Speaker: ‘Everything Will Have Been Rigged In Advance’

Why It’s Important? This “potentially deal-breaking document” was not provided by Donald Trump’s lawyers but handed over by Mazars, Mary Trump noted.

Offering his take, Gallina said in the New York state, improper maintenance of business records would be counted as “spoilation” of evidence and it could lead to “sanctions like monetary penalties, and permit the judge to make a negative inference against the Trump Organization.”

He sees the notation as significant as it would not only tie Donald Trump directly to a “fraudulent document” but also put his lawyers at risk for not providing it during discovery.

“I think days like this are a real victory for James and the prosecution. The more they shine a light on Donald’s enterprise, the more fraud comes out,” the attorney said.

Gallina sees it harder for Donald Trump to wiggle out of this case, with the withholding of documents strengthening the case. The damages will be severe, he said.

Judge Arthur Engoron, who is presiding over the case, will likely rule on the case in the next three weeks.

Photo via Shutterstock

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