Deutsche Bank MD testifies on Trump’s inflated income statements: ‘It’s not an industry standard that these statements be audited’

Published November 29, 2023

David Williams said bankers viewed net worth claims as “subjective or subject to estimates” and a multibillion-dollar adjustment wasn’t necessarily unusual.

When Deutsche Bank loaned Donald Trump’s company hundreds of millions lawyers of dollars, the bank always followed its own guidelines that include checking out information that would-be borrowers provide, an executive testified Tuesday at the former president’s civil fraud trial.

The loans — for projects in Florida, Chicago and Washington, D.C. — are a focus of New York Attorney General Letitia James’ lawsuit contending that Trump and his company deceived lenders and insurers by giving them financial statements that baldly overstated his asset values and overall net worth. The defendants deny the allegations.

Deutsche Bank reviewed the financial statements before making the loans through its department that works with rich individuals — a pathway that allowed for more favorable interest rates than likely available from the commercial real estate division, according to the lawsuit. The deals came with conditions about Trump’s net worth and, sometimes, liquidity, and they often required annual submissions of his financial statements.



RELATED: Deutsche Bank May Have Just Destroyed Letitia James’ Civil Fraud Case Against Trump

Published November 28, 2023

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.



RELATED: At Trump’s NY fraud trial, a rep for ‘victim’ Deutsche Bank wouldn’t use the F-word — for fraud

Donald Trump boards the elevator at Trump Tower in New York City.Dominick Reuter/AFP via Getty Images
Published November 28, 2023
  • Trump’s civil fraud trial, which could run him and Trump Org out of New York, is in its ninth week.
  • A rep for Trump’s biggest “victim,” Deutsche Bank, testified Tuesday as an unlikely defense witness.
  • He said Trump’s math seemed fine at the time, but the state countered that was beside the point.

Donald Trump’s defense team tried to turn the tables at his civil fraud trial on Tuesday — calling a representative from his own biggest fraud victim, Deutsche Bank, to the witness stand in his defense.

The bank official, who signed off on lending Trump $170 million 10 years ago, sure didn’t sound like a fraud victim. Instead, under direct questioning by a Trump lawyer, he testified that the math the former president used to secure that particular pile of money seemed fine to him at the time.

He said the bank double-checked and signed off on the same annual Trump net-worth statements that New York Attorney General Letitia James says were riddled with as much as $3.6 billion in exaggerations a year.





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71% of the earth is covered by ocean, water is a 1000 times denser than air and the mass of the oceans are 360 times that of the atmosphere, small temperature changes in the oceans doesn’t only modulate air temperature, but it also affect the CO2 level according to Henry’s Law.

The reason it is called “Law” is because it has been “proven”!

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That means, the graph proves CO2 do not control temperature, that again proves (Man Made) Global Warming, now called “Climate Change” due to lack of … Warming is – again – debunked!