Skip to comments.Letitia James’s Office Hits Back After Deutsche Bank Testimony Blows Hole in New York AG’s Case Against Trump
Posted on 11/29/2023 7:56:25 PM PST by bitt
New York Attorney General Letitia James’s office responded to testimony by a Deutsche Bank executive that could have torpedoed her civil fraud case against Trump.
Radical Marxist New York Attorney General Letitia James is seeking $250 million in ‘damages’ when there is no victim in this fraud case and she is also seeking to ban Trump and his sons from operating any businesses in New York. She accused Trump of inflating his assets and defrauding lenders and insurance companies.
A Deutsche Bank executive who worked to approve at least one of Trump’s loans testified on Tuesday that it is “atypical, but not entirely unusual” to reduce a client’s asset values and still approve a loan.
“A Deutsche Bank AG executive gave testimony that could bolster Donald Trump’s defense in his civil fraud trial, telling a New York judge that prospective clients can get loans even after reporting a net worth far higher than the lender’s own calculations.” Bloomberg reported.
“David Williams, who worked on at least one of three loans Deutsche Bank made to Trump in the years before he was elected president, testified Tuesday that it’s “atypical, but not entirely unusual” for the bank to cut a client’s stated asset value by 50% and approve a loan anyway, as it did with Trump,” Bloomberg reported.
Williams testified that Trump’s stated assets are merely an opinion and a difference of opinion in asset values does not disqualify the potential borrower from a loan.
“It’s just a difference of opinion,” Williams said, according to Bloomberg.
Trump’s defense attorney argued that Deutsche Bank conducted its own due diligence and made their own decision to loan Trump money.
“The bank conducted its own due diligence. The bank had no problem with a $2 billion or a $3 billion difference,” Trump’s attorney Christopher Kise said.
Kise also argued that the German bank wasn’t harmed because it “didn’t change what it did based on what President Trump submitted.”
Totally exculpatory, but then again so is everything related to this kangaroo court case.
What did her office say? The response doesnt seem to be part of the excerpt. Or did I miss their reply?
She’ll get her conviction.Why? New York.
Being an insult to honest, hard-working blacks, stupid, insane, fat and corrupt is the right qualification for being a NEW YORK judge.
Except the bank executive described this as a "difference of opinion" and not a lie, you jackass (Wallace).
a difference in fmv is not a lie
not all appraisers come up with the same number
This is the most outrageous and ridiculous case. There are no victims, no complainants, except for an intrusive DOJ . How do they live with themselves?
“Kise also argued that the German bank wasn’t harmed because it “didn’t change what it did based on what President Trump submitted.”
is seeking $250 million in ‘damages’ when there is no victim in this fraud case>>> Sorry but when we allow the courts to declare corps and states as people then they can be defrauded.
She’ll get her conviction. Why? New York.>>> Well maybe but with our legal system declaring states and corps as people then the fraud was perpetrate on the citizens of New york. NOt the banks or real people. I think that the cause of action in this new york case. and it is not a court. it is a prosecutorial administrative function between fake people corp trump and corp New york.
This is very bad news for boring DeSantis and Neocon queen Haley.
Any conviction can be appealed all the way to SCOTUS
“not all appraisers come up with the same number”
Just look at big equities with dozens of analysts forecasting the price. The estimates are all over the map. It’s no different with real estate.
A bank appraiser must use comparables of similar properties without speculating on the value a celebrity’s property would fetch or the likelihood of value increasing projects coming nearby. The borrower considers what is likely a property will be valued at while the lender must value on existing conditions minus a fudge factor.
So, what was her response?
“Any conviction can be appealed all the way to SCOTUS”
This is a civil case, so no conviction (except in the public opinion), but I get what you mean. Just a dirty plot to steal his money and ruin his businesses and family.
RE: A bank appraiser must use comparables of similar properties without speculating on the value a celebrity’s property would fetch or the likelihood of value increasing projects coming nearby.
The bottom line is this — Appraising a property for collateral purposes is THE JOB OF THE LENDER’s appraiser. It is and should be none of the Attorney General’s ( i.e. the state) business.
It is only the state’s business if the borrower fails to pay the loan and the lender files a lawsuit ( which is NOT the case here ).
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.