Donald Trump Jr. told New York investigators that he doesn't know basic accounting.
He claimed he wasn't aware that he had to sign his dad's financial statements.
He remembered a little about accounting principles from Wharton.
Donald Trump Jr. insisted during a recent deposition that he has very little understanding of accounting, New York officials revealed Thursday.
According to court papers filed by the New York state's attorney general, the younger Trump claimed that he was unaware of the generally accepted accounting principles.
According to the filing, Donald Trump, Jr. testified that his only familiarity with GAAP was probably because of Accounting 101 in Wharton.
Donald Trump, Jr. is also a graduate of the Wharton School. He told New York Magazine that he used to drink a lot.
James offered a peek into Donald Trump Jr.'s claimed accounting ignorance as part of a new court filing that alleges the Trump Organization is engaging in a continuing pattern of fraud.
Her office is asking a Manhattan judge to bar Trump from shifting assets to "Trump Organization II," a new entity that is not named as a defendant in the lawsuit or in a pending Manhattan criminal prosecution.
She wants the judge to assign an independent monitor to oversee Donald Trump's finances and to require him to formally accept service of her lawsuit, something he hasn't done yet.
Donald Trump Jr. did not invoke his Fifth Amendment right against self-incrimination when he gave a deposition for the attorney general's investigators.
Donald J. Trump has been a Trustee of the Donald J. Trump Revocable Trust.
Donald Trump, Jr. had no recollection of the annual statements of financial condition at the center of the lawsuit, despite being a Trustee.
Donald Trump, Jr. testified that he doesn't know how the statement is compiled.
Donald Trump, Jr. testified that he had no knowledge of the process or mechanics of the statements.
Business Insider has an article on it.
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