The attorney general’s office, however, has maintained that such adjustments were never intended to account for the alleged fraud. “It’s a conservative measure to make these adjustments,” he testified, characterizing them as “standard” and a “stress test” of financial strength. The deals came with conditions about Trump’s net worth and, sometimes, liquidity, and they often required annual submissions of his financial statements. The defendants deny the allegations.ĭeutsche 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. 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 loans - for projects in Florida, Chicago and Washington, D.C. NEW YORK (AP) - 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.
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