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.”
more...
She needs to be thrown out on her fat black a##. She has done nothing to serve the people
As a former lender, to me To me this trial is a
prime example of “Political Persecution For Dummies”.
You nailed it..... and besides, wouldnt that $250 million she hopes to
disgorge from Trump make a nice bundle to finance her political ambitions?
Who, in heaven’s name, ever heard of a judge, sitting on the bench, no less, expressing his opinion......
actually disdaining the defendant, and coming down on the side of the AG’s attorney...in.an.open.court?
Let me guess, in the next 6 months we will see a story about New York discontinuing involving Deutsche Bank in some program involving the city.
After Letitia extorts Trump of $250 million to finance her political ambitions, next
she sues Deutsch Bank for “exploiting” the People,”enabling” capitalist criminals
like Trump, and for daring to expose the rank stupidity of her ghetto-nurtured lawfare.
Ahh. Thanks. They put that entire backstory in the article and hid the payoff. What garbage writing. I enjoy GP. But their article formats stink.
Btw. If the state believes that statute was violated then the state should have filed criminal charges. Not civil. What standing does the state have in this transaction?
Civil court is so those that are harmed have a venue to seek relief because they do not have the authority to file criminal charges and extract damages like the state.
There’s just one problem with James’s case: the tax assessor’s office accepted and adopted Trump’s property values. If they were inflated, it only means he’s paying higher property taxes, but the fact the figures were validated and entered into the documents of record means the Government accepted them. If James wants to assert fraudulent behavior, she’s going to have to take on the city assessor’s office to explain the contrast.
I didn’t know that,thanks for sharing
There’s nothing like a sale to finally nail down the market-clearing price, is there? Arguing about the validity of an appraisal is like arguing about the number of angels that can dance on a pin head.
“I think the idea that you can’t lie to a bank is pretty well established,” Wallace said.
I think the idea that these prosecutors do like is pretty well established.
Yes, everything is an ESTIMATE based on countless factors. I used to get estimates for large scale R&D projects and the high/low spread in the estimates was astounding.
Often the estimate didn’t even depend on the factual estimates by the professional engineers, but how hungry the seller was. If his order book was empty and he was facing imminent layoffs of his most important asset (his highly trained people), you got a MUCH better price quote. So even if you had perfect estimating by all the engineers and estimators arriving at the exact same price, you still had spread on your quoted prices depending on the bidders hunger or imminent hunger.
This appears to be about President Trump’s gross worth. Someone argued 4 billion, someone else 2.5 billion, and others as high as 10 billion or as low as 2 billion.
Evidently, it is possible to loan money to those with gross worths far below the value of what the loan is for. Otherwise, most Americans wouldn’t be able to purchase houses or even cars, for that matter.
The whole idea of credit is credit history in terms of paying off loans.
Because she is Black
It's the NY state government, not the USDOJ, although the feds may be helping Leticia and vice versa. Both want to damage Trump's candidacy, but Smith has not announced an interest in other government positions yet.
Yep, exactly right, they did their own due diligence.
IMO her race wouldn’t be a factor. She’ll get her conviction because except for the District of Columbia itself the State of New York is,by far,the most corrupt administrative jurisdiction in the United States.
And the AA HIRE, JAMES, will go after EVERY NEW YORK CCOMPANY AND CEO THAT SHE DOESNT LIKE!
WAY more than one problem.
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.