The civil fraud case against former President Donald Trump by New York Attorney General Letitia James took a turn as an executive from Deutsche Bank testified that the bank cut a client’s asset value by 50% and still approved a loan.
Trump is accused of inflating his assets and faces a $250 million penalty and a ban from doing business in New York.
Trump denies wrongdoing and claims the case is politically motivated. (Trending: Biden Shamefully Removes God From National Address)
Deutsche Bank Executive, David Williams, testified in Trumps NY civil lawsuit, that when he worked on several of Trumps loans, “he had one of the strongest balance sheets we have ever seen, and totally unlike any of our major developer clients.
He (Trump) reported both a net… pic.twitter.com/Rfgw6ELT1C
— 🇺🇸ProudArmyBrat (@leslibless) November 30, 2023
“Is the bank capable of reaching its own judgment based on the evaluation it makes of the guarantor’s financial condition?” Trump attorney Jesus Suarez asked.
“Certainly, yes,” bank executive David Williams said.
“The suit brought last year by New York Attorney General Letitia James accuses Trump of inflating his assets by as much as $3.6 billion a year to get better terms from banks and insurers. Trump is scheduled to take the witness stand for the second time on Dec. 11, when he’s likely to double down on his earlier testimony that no banks were financially harmed by loaning to him,” a Bloomberg report read.
“Trump, who denies wrongdoing and claims the case is politically motivated, is calling to the stand this week four current and former Deutsche Bank employees — including the family’s former private banker Rosemary Vrablic — as part of his defense case, seeking to flip the script on the state’s version of events. The testimony could undermine the state’s portrayal of Deutsche Bank as Trump’s biggest victim.”
Legal experts argue that the case lacks victims and is being used for political purposes.
“The case against the former president lacks victims, so Tish James and Arthur Engoron are inventing some,” former federal prosecutor Andrew McCarthy said.
“That is not stopping elected progressive Democrats Letitia James and Arthur Engoron, the state attorney general and her cat’s paw in a judge’s robe, from concocting a mammoth fraud scheme masterminded by Trump in which we’re to believe the banks lost their shirts . . . but just forgot to complain about it,” he wrote.
“It’s an amazing thing to watch: Donald Trump, front-runner in the Republican presidential nomination race, is on trial for supposedly inventing wealth that he didn’t have; and in order to nail him, elected Democrats Tish James and Arthur Engoron are inventing losses that no one ever suffered.”