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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…
READ FULL ARTICLE HERE… (thegatewaypundit.com)
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