Ok?
We’re back to the alternate universe of Donald Trump….
In the New York State Civil Trial ?
Several bankers that testified said they did NOT RELEALY rely on the financials submitted to them for bank loans…
Actually?
One person from one bank NEVER looked at his balance sheet info submitted in working up a loan for Trump….
This is what the Trump lawyers are arguing as a defense against the judges ALREADY ruling Trump committed a fraud….
This COULD have the New York State Banking people maybe wanting to follow up on this?
ANYBODY You know can walk into a bank a get a loan with out their banks backroom people NOT run your credit?
I mean is it a fraud defence that bank’s people KNEW they where being lied to?
What about state and federal taxes based on these numbers?
Did the government KNOW they where being lied top on Trump’s taxes?
THAT would be a crime?
Bankers whom Donald J. Trump is accused of defrauding testified at his civil fraud trial this week that they did not rely on his embellished claims of wealth, lending support to the central plank of the former president’s defense.
The New York attorney general, Letitia James, sued Mr. Trump in 2022 for inflating his net worth on his annual financial statements to receive favorable loans from banks, notably including Deutsche Bank. Before the trial, the judge found that the statements were filled with examples of fraud; the trial will determine any consequences the former president may face.
Mr. Trump has protested the premise of the case, insisting that the banks did their own due diligence and that misstatements in the financial documents would not have affected the overall terms of the loans. It follows, his lawyers have argued, that the alleged fraud had no victim.
The bankers who testified this week supported that argument when asked about the loan process.
“We are expected to conduct some due diligence and verify the information provided, to the extent that is possible,” David Williams, a banker in the wealth management group at Deutsche Bank, said on Tuesday. He said repeatedly that the bank had performed that diligence and factored its own analysis into the relationship with Mr. Trump.
The attorney general has said that the bankers’ having done their own due diligence is not a defense. Her lawyers argued that to obtain the pretrial ruling, they were not required to show that the fraud had harmed the banks and that Mr. Trump’s exaggerations had been so hyperbolic that they would be “material to any user” of the financial statements.
But Mr. Williams testified that Deutsche Bank understood that financial statements like those Mr. Trump submitted relied on estimates. As a result, he said, the bank conducted its own “stress test” and adjusted the numbers downward.
At one point in their lending relationship, Mr. Williams said, Deutsche Bank adjusted Mr. Trump’s net worth to $2.6 billion from the $4.9 billion that he had originally reported. Asked about his reaction to the “magnitude” of that adjustment, Mr. Williams was sanguine.
“My reaction was probably pretty measured, considering it’s not unusual or atypical for any client’s provided financial statements to be adjusted to this level, or to this extent,” he said.
Mr. Williams’s testimony and that of his former Deutsche Bank colleague Rosemary Vrablic, who oversaw hundreds of millions of dollars in loans to Mr. Trump before she resigned in 2021, will most likely be key to any appeal filed by Mr. Trump’s lawyers after the trial…..
…
A lawyer for the attorney general’s office, Kevin Wallace, sought to clarify that despite the bank’s rosy assessment, Deutsche Bank had issued the loans only because the former president had personally guaranteed them. Ms. Vrablic agreed that was the case….