Deutsche Bank might have just blown up Letitia James’s civil fraud case against President 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.
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.
“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.
Late last month far-left New York Judge Arthur Engoron blasted Trump’s lawyers and said fining Trump for ‘illegal profits’ is an ‘available remedy’ – in a fraud case with zero victims.
Engoron said fining Trump for ‘illegal profits’ is an available remedy…even though there are no victims and a Deutsche Bank executive testified that loaning Trump was a “good credit decision.”
Trump’s former lawyer Michael Cohen, a convicted felon, testified last month.
Last month, Michael Cohen, a known liar, told the court that Trump inflated his assets. He continued his testimony later that week where he admitted in court that Trump never ordered him to inflate his financials.
“So Mr. Trump never asked you to inflate the numbers on his financial statement,” Trump attorney Cliff Robert asked Michael Cohen, according to CNN.
“Correct,” Michael Cohen said.
Trump’s lawyer Cliff Robert immediately asked the judge to dismiss the trial because Cohen, the key witness, just told the court that Trump never instructed him to inflate his assets.
Judge Engoron denied the motion to dismiss and it was at this point that Trump got up and abruptly walked out of the courtroom.
“The witness just admitted that we won the trial and the judge should end this trial immediately,” Trump said after he stormed out of the courtroom last month.
