Advertisement
OPINION: This article may contain commentary which reflects the author’s opinion.
New York Attorney General Letitia James’ civil fraud case against former President Donald Trump took a turn for the worse on Tuesday following testimony by an executive with Deutsche Bank.
Under questioning from Trump’s legal team, 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 News reported.
Trump attorney Jesus Suarez asked Williams, a managing director at the German-owned bank, “Is the bank capable of reaching its own judgment based on the evaluation it makes of the guarantor’s financial condition?”
“Certainly, yes,” Williams said.
Bloomberg noted further: “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…
Read the full article here