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The deals came with conditions about Trump’s net worth and, sometimes, liquidity, and they often required annual submissions of his financial statements. But, testifying for the defense, managing director David Williams said the bankers viewed clients' reports of their net worth as “subjective or subject to estimates” and took its own view of such financial statements. The attorney general's office, however, has maintained that such adjustments were never intended to account for the alleged fraud. He asserted in his own testimony this month that his lenders cared more about property locations and the parameters of the deals than they did about the financial statements. “Are you aware of any time Deutsche Bank didn’t adhere to its own guidelines in making loans to President Trump?” defense attorney Jesus M. Suarez asked.
Persons: Donald Trump's, Letitia James, Trump, baldly, David Williams, , it’s, ” Williams, Williams, “ It’s, Nicholas Haigh, , Arthur Engoron, There's, Engoron, James, Jesus M, Suarez, James ’, haven’t Organizations: Deutsche Bank, D.C, New York, Democrat, Trump Locations: Florida, Chicago, Washington, New York
Political Cartoons View All 1211 ImagesMcArdle said he was asked to figure out what the property would be worth if the Trump Organization built 71 high-end townhomes there, and he got substantial input from Eric Trump. McArdle said Thursday that Eric Trump may have had a “more lofty value" in mind, but a higher number wouldn't have been credible. Trump's financial statements went on to list the golf course at values sometimes topping $100 million, according to James' lawsuit. Both Eric and Donald Trump have attended some parts of the trial but weren't there Thursday. Earlier in the trial, retired Deutsche Bank official Nicholas Haigh testified that Trump’s financial statements were key to approvals for hundreds of millions of dollars in loans in 2011 and 2012.
Persons: Donald Trump's, Eric, Letitia James, Trump, Eric Trump, David McArdle, McArdle, “ Eric, ” McArdle, wasn't, , didn't, James, Donald Trump, Jack Weisselberg, Allen Weisselberg, Trump's, Weisselberg, Nicholas Haigh, Haigh, Judge Arthur Engoron, Michael R Organizations: New York, Republican, Trump Organization, Trump National Golf, Trump, Deutsche Bank, Associated Press Locations: New York, New, Westchester County, Briarcliff Manor , New York, Wakefield, Sisak
For 2 days, Deutsche Banks' in-house Trump credit reports flashed on screens at his NY fraud trial. For a second day on Thursday, a former Deutsche Bank executive sat on the witness stand as years of his firm's confidential Trump "credit reports" flashed across two big screens. Trump never missed a loan payment, the credit reports and the banker's testimony showed. In almost a decade as a borrower, Trump was never even late making a payment – not before, during, or after his presidency. AdvertisementAdvertisement"And all the obligations of the borrower were met," Trump attorney Jesus M. Suarez asked the banker in his next question.
Persons: , , Donald Trump, Trump, Nicholas Haigh, Letitia James, Jesus M, Suarez, James, Louis M, Solomon, Patrick Birney, Birney, general's Organizations: Deutsche Banks, Trump, NY, Service, Deutsche Bank, Trump Organization, Washington DC, Associated Press, Bank Locations: New York, Chicago, Miami, Washington
NEW YORK (AP) — Donald Trump will back in court next week for his New York civil fraud trial, a person familiar with the former president’s plans told The Associated Press on Thursday, setting up a potential face-to-face showdown with fixer-turned-foe Michael Cohen, who is expected to testify. Trump is expected to attend the non-jury trial Tuesday through Thursday next week, according to the person who confirmed the plans, which were first reported by news website The Messenger. Outside, Trump decried the civil trial a “sham,” a “scam,” and “a continuation of the single greatest witch hunt of all time.” His campaign, meanwhile, attempted to capitalize with fundraising appeals tied to the proceedings. Trump isn’t required to be in court for the civil trial until he is called to testify in the few weeks. The civil trial, which doesn't have a jury because one is not required under the law, concerns allegations of conspiracy, insurance fraud and falsifying business records.
Persons: — Donald Trump, Michael Cohen, Trump, “ It’s, Cohen, Donald, Letitia James ’, , James, Allen Weisselberg, Jeffrey McConney, Donald Bender, Nicholas Haigh, general's, Trump’s, , he's, Arthur Engoron, Engoron, __ Colvin Organizations: New, Associated Press, Trump, Secret Service, New York, Democrat, White, Trump Organization Locations: New York, Manhattan, New, Congress, Washington
Trump's longtime finance chief, Allen Weisselberg, acknowledged in testimony Tuesday that information in the financial statements wasn't always accurate. The disclaimers say, among other things, that the financial statements aren't audited and that others “might reach different conclusions” about Trump's financial position if they had more information. It’s the first time a bank official has testified in court about the impact Trump’s financial statements had on his ability to obtain loans. Haigh said he reviewed Trump’s financial statements before approving the loans and, at the time, had no reason to doubt their validity. “I assumed that the representations of the assets and liabilities were broadly accurate," Haigh said of Trump’s financial statements.
Persons: — Donald Trump, Trump’s, Nicholas Haigh, , Haigh, , Allen Weisselberg, wasn't, Trump, weren't, Letitia James ’, ” Trump, Jesus M, Suarez, ” Haigh, He's, Arthur Engoron, Engoron, James Organizations: Deutsche Bank, Trump, Trump Organization, Deutsche, Doral, Republican, Democrat Locations: York, Doral , Florida, Chicago, New, Miami, Wabash, Trump, New York
On Wednesday, state officials called former Deutsche Bank banker Nicholas Haigh to the stand. He described the so-called Trump "haircut": routinely applied reductions to Trump's stated worth. AdvertisementAdvertisementThey called it the Trump "haircut." An excerpt from Deutsche Bank's internal records, showing the difference in what Trump's self-reported net-worth and his "haircut" worth. The attorney general countered that in lending to Trump, Deutsche Bank relied on both Trump's adjusted, worst-case, "haircut" worth and his self-reported worth.
Persons: Nicholas Haigh, , Deutsche Bank – Donald Trump's, , Kevin Wallace, Haigh, Trump, Bauer, Griffin, Eric Trump's, James, – Trump, Allen Weisselberg Organizations: Trump Org, Deutsche Bank, Service, Trump's, Deutsche, DB, New York Attorney, Trump, . Deutsche Bank, Trump National Doral, Trump International Hotel, Tower, Post, Trump Organization, AaronP, NY, Deutche Bank Locations: NY, York, Trump National Doral Miami, Chicago, Washington ,, Springs, New York
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