Facts Keep Getting In The Way Of The Democrat Witch Hunts in Court. Deutsche Bank testimony destroys NY case even further…
In a pivotal twist to the legal battle between former President Donald Trump and New York Attorney General Letitia James, a Deutsche Bank executive’s testimony may have significantly weakened the state’s lawsuit. The lawsuit centers around allegations that Trump manipulated asset values to secure favorable terms from banks and insurers, with the German lender portrayed as the primary victim. David Williams, a managing director at Deutsche Bank who was directly involved in at least one of Trump’s loans, testified on Tuesday, offering insights that could reshape the narrative of the case.
Williams stated that it is “atypical, but not entirely unusual” for a bank to internally reduce a client’s stated asset values by 50% and still approve a loan. According to Bloomberg, Williams emphasized that the decision depends on the circumstances, challenging the notion that such a practice is inherently fraudulent.
Deutsche Bank, a major lender that provided Trump with hundreds of millions of dollars for properties in Miami, Chicago, and Washington, reportedly reduced Trump’s stated net worth in 2011 and 2012 from about $4.2 billion to $2.3 billion. However, internal bank credit memos indicated that the loans were approved despite the reduction in asset values, based on the expectation that the projects would yield a profit, considering Trump’s track record of successful developments and other criteria.
This testimony directly contradicts AG James’ claim that Trump defrauded Deutsche Bank. The executive’s explanation sheds light on the bank’s underwriting process, asserting that adjusting a client’s asset value is routine during due diligence and not a disqualifying factor for extending credit.
When questioned by Trump’s attorney, Jesus Suarez, about the difference of opinion in asset values between the client and the bank, Williams stated that it is not a disqualifying factor, emphasizing that it is merely a divergence of opinions. This challenges the core premise of the lawsuit and raises questions about whether the alleged discrepancies in asset valuations constitute fraudulent behavior.
Of course there was no fraud. That’s the point. pic.twitter.com/oI6iIwEnRp
— Dr_Insensitive_Jerk (@DrInsensitive) November 29, 2023
Trump and his sons, Donald Trump Jr. and Eric Trump, had previously testified that no banks suffered as a result of the alleged inflated valuations, asserting that lenders had made substantial interest earnings on the loans. Trump argued that his name and the potential for future development were legitimate factors in previous valuations.
JUST IN: NY AG Letitia James’ Case Against Trump Gets WRECKED by Deutsche Bank Testimony – Kyle Becker
The trial, characterized by some as a partisan endeavor, has faced controversy, with the judge, Justice Arthur Engoron, having ruled Trump liable for fraud before the trial began. The focus now shifts to the remaining claims and potential penalties, with the state seeking the return of $250 million in “illegal profit” and a ban on Trump and his sons from serving as directors or officers of any New York-based company.
As the legal proceedings unfold, the Deutsche Bank executive’s testimony introduces a significant challenge to the narrative, suggesting that the alleged fraudulent activities may be a matter of differing opinions rather than criminal misconduct.
Wanna know EXACTLY how CORRUPT the NY case against Trump is?
Watch THIS!!👇🏼
It explains just how intertwined these people are and what an absolute abuse of power this case actually is!!
This election, and what is going on, will be looked back on as one of the biggest scandals… pic.twitter.com/3ddSzQmRyW
— SaltyGoat (@SaltyGoat17) November 28, 2023
Major Points Discussed:
- David Williams, a Deutsche Bank executive, testified in the legal battle between Trump and NY AG Letitia James, challenging the lawsuit’s premise that Trump defrauded the bank.
- Williams noted that it’s “atypical, but not entirely unusual” for a bank to approve a loan after internally slashing a client’s stated asset values by 50%, as was done with Trump, highlighting the importance of circumstances in such decisions.
- Williams clarified that adjusting a client’s asset value is part of the bank’s routine due diligence and is not considered a disqualifying factor for extending credit, challenging the claim of fraudulent behavior.
- The testimony directly contradicts AG James’ assertion that Trump defrauded Deutsche Bank, indicating that the bank’s approval of loans was based on expectations of profitability rather than fraudulent activities.
- The trial, perceived by some as a partisan show, has faced criticism, with the judge ruling Trump liable for fraud before the trial began. The focus now shifts to remaining claims and potential penalties sought by the state, including the return of $250 million in “illegal profit.” Continued below the Goldco Ad
Comments – Threads – Links
- Trump is blasting out press clippings on Truth Social about Deutsche Bank executive David Williams who testified yesterday in New York that Trump had “one of the strongest balance sheets we have seen and totally unlike any of our major redeveloper clients.” Williams also testified that there was never a default event, and that it’s not unusual for banks to estimate a net worth differently than a client, bolstering Trump’s claim that banks do their own due diligence before issuing loans. The only fraud being committed in New York is by Letitia James and partisan hack Judge Engoron. – Charlie Kirk
- You can bet that Deutsche Bank executive David Williams knows a lot more about financial matters than that hack New York AG and clown judge. – First Words
- POOR UNINFORMED LETITIA JUST CAN’T WIN FOR LOSING. Deutsche Bank May Have Just Destroyed Letitia James’ Civil Fraud Case Against Trump 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. This type of lending is typical in high net-worth, high-profile clients like Donald Trump. Anyone with basic knowledge of banking, lending, portfolio and credit risk management knows this. – Gateway Pundit
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