{"id":2111186,"date":"2023-11-29T15:29:08","date_gmt":"2023-11-29T20:29:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bank-executive-flips-the-script-during-his-testimony-at-trumps-ny-fraud-trial\/"},"modified":"2023-11-29T15:31:20","modified_gmt":"2023-11-29T20:31:20","slug":"bank-executive-flips-the-script-during-his-testimony-at-trumps-ny-fraud-trial","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bank-executive-flips-the-script-during-his-testimony-at-trumps-ny-fraud-trial\/","title":{"rendered":"Bank executive surprises during Trump&#8217;s NY fraud trial testimony"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbank-executive-flips-the-script-during-his-testimony-at-trumps-ny-fraud-trial%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2111186&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>A Deutsche Bank Executive Confirms Trump&#8217;s Claims in NY Fraud\u200c Trial<\/h2>\n<p>In a surprising turn of events, a Deutsche Bank AG executive has confirmed what \u200dformer\u200c President Donald Trump has been \u200csaying all\u200d along about the\u2062 fraud \u200clawsuit \u200bbrought \u2062by New York Attorney General Letitia James: there were no victims.<\/p>\n<p>James&#8217; civil case is based \u2062on the allegation that the Trump\u200c Organization overvalued\u2063 its properties, leading to fraud \u200cagainst banks like \u200bDeutsche when obtaining business loans.<\/p>\n<p>The lawsuit \u2064claims\u200b that the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/letitia-james-trying-to-nail-trump-for-losses-no-one-ever-suffered-former-fed-prosecutor-says\/\" title=\"Letitia James Trying to Nail Trump for 'Losses No One Ever Suffered,' Former Fed Prosecutor Says\">company inflated property values<\/a> by up to \u200b$3.6 billion to secure better loan\u2062 terms, according to Bloomberg.<\/p>\n<p>New York is seeking $250 million\u2064 in penalties and a ruling that would prevent the Trump Organization from\u200b doing business in \u2062the state.<\/p>\n<p>During the\u200c trial, Trump&#8217;s attorney Jesus Suarez questioned David \u2062Williams, a \u200cmanaging director\u2064 at Deutsche Bank, about the bank&#8217;s ability\u200b to \u200cassess a client&#8217;s financial condition. Williams confirmed that the bank is capable of making its own judgment based on its evaluation.<\/p>\n<p>Williams further testified that \u2062Deutsche Bank always \u200creviews a client&#8217;s financial statements and\u200b adjusts the company&#8217;s worth based on its\u200c own assessment. \u200bHe\u200b emphasized that a difference of opinion in asset values\u2062 between the client and the \u200bbank is not a disqualifying \u2063factor for\u200b extending\u2062 credit.<\/p>\n<p>Trump has consistently maintained that\u200b his company&#8217;s financial\u200d statements were conservative and that lenders should conduct\u200b their own due diligence to determine \u2064asset values.<\/p>\n<p>Former\u200d federal prosecutor Andrew McCarthy supports Trump&#8217;s\u200d claims, \u200dstating that banks in high-end \u2064lending \u200bare sophisticated financial \u2064actors who rely \u2063on experienced appraisers to assess values. McCarthy \u2063argues that the banks were not deceived\u2062 into loaning money \u200bto\u200b the Trump Organization.<\/p>\n<p>Furthermore, McCarthy\u2062 points out that even\u2062 if Trump&#8217;s properties were overvalued, there is no evidence that the banks would\u200d have charged \u2062a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/employment-growth-unexpectedly-accelerates-with-187000-jobs-added-in-august\/\" title=\"Surprising boost in employment as 187,000 jobs added in August.\">higher interest\u2063 rate<\/a>. The banks set\u2063 loan terms based on various factors, \u200dincluding Trump&#8217;s payment history and their \u200down desire\u2063 to earn money.<\/p>\n<p>After Williams&#8217; testimony, Trump&#8217;s attorney Christopher Kise requested an immediate directed verdict in his\u2064 client&#8217;s favor, arguing\u2064 that the \u200ballegedly\u200b inflated property values\u2064 were not material \u200cto the bank&#8217;s decision to loan to the Trump \u200bOrganization. The judge has yet to rule on this request.<\/p>\n<p>It is clear that this case would not have \u200bbeen brought if \u2063it weren&#8217;t for Trump&#8217;s presidential candidacy in 2024. James seems to\u2062 be using the lawsuit to raise her profile and damage the front-runner for the Republican nomination.<\/p>\n<p>In conclusion, the testimony of the\u2063 Deutsche Bank executive\u200c has provided a boost to\u2063 Trump&#8217;s defense in \u200cthe NY fraud trial,\u2064 challenging the notion that there were victims and highlighting the banks&#8217; own assessment \u2063processes.<\/p>\n<hr>\n<h3>Do you think Trump is getting \u200ba \u2063fair\u2063 trial?<\/h3>\n<ul>\n<li>Yes<\/li>\n<li>No<\/li>\n<\/ul>\n<p><em>Completing this poll entitles you to The \u2063Western Journal news updates \u2064free \u200cof charge via email. You may \u200copt out at\u200b any time. You also agree to\u2063 our\u200c <a href=\"https:\/\/www.westernjournal.com\/about\/privacy-policy\/\">Privacy Policy<\/a> and <a href=\"https:\/\/www.westernjournal.com\/about\/terms-service\/\">Terms of Use<\/a>.<\/em><\/p>\n<div id=\"firefly-poll-results\" style=\"display: none\">\n<div id=\"firefly-poll-results-yes\" style=\"width: 0%\">Yes: 0% (0 Votes)<\/div>\n<div id=\"firefly-poll-results-no\" style=\"width: 100%\">No: 100% (12 Votes)<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.westernjournal.com\/bank-executive-flips-script-testimony-trumps-ny-fraud-trial\/\">Read \u200bmore<\/a> on The Western Journal.<\/p>\n<p> <\/p>\n<h2> What role\u2064 does the difference of opinion in asset values play in the bank&#8217;s decision to extend credit, and \u200bhow does this align with Trump&#8217;s argument?<\/h2>\n<p><span>  This confirmation by\u200b a Deutsche Bank executive adds weight\u200b to Trump&#8217;s assertions and raises questions about the \u2064validity of the fraud lawsuit brought against him by the New York Attorney General.<\/p>\n<p>The allegations made by Letitia James suggest that the Trump\u2064 Organization \u2064intentionally inflated the\u200b value of its properties in order to secure more <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/review-the-last-emperor-of-mexico\/\" title=\"REVIEW: \u2018The Last Emperor of Mexico\u2019\">favorable loan terms<\/a> from banks such as Deutsche. However, the executive&#8217;s testimony suggests that the bank is\u2064 fully\u2064 capable of assessing a client&#8217;s financial condition\u2064 and making its \u200down judgment \u200cbased on\u2063 its evaluation.<\/p>\n<p>It is important to note that a difference of opinion in asset values between the client and the bank is not a disqualifying factor for extending credit. This aligns with Trump&#8217;s argument that his company&#8217;s financial statements were conservative and that lenders should\u2062 conduct their own\u200b due diligence to determine asset\u2062 values.<\/p>\n<p>Andrew\u200d McCarthy, \u200da former federal prosecutor, supports Trump&#8217;s\u2063 claims\u2064 and states\u200c that banks \u2063in high-end lending are sophisticated financial actors who rely on experienced appraisers to assess values. This further strengthens the argument \u2062that the \u200bTrump Organization did not engage in fraudulent activities,\u2063 as alleged by the New \u200dYork Attorney General.<\/p>\n<p>The outcome of this trial could have significant implications for both\u200d Trump and the Trump Organization. If the court rules in favor of James and imposes the sought-after penalties, it could severely impact the organization&#8217;s ability to do business in the state of New York. On\u200c the\u200b other hand, if the \u2063court finds in favor of Trump, it could discredit the fraud allegations and vindicate his claims.<\/p>\n<p>Regardless of the outcome, this case highlights\u200b the importance of transparency\u2062 and due diligence in the lending process. Lenders must take responsibility for conducting thorough evaluations and not solely rely on the statements provided by borrowers. This ensures the integrity of the \u200clending system and protects\u2064 both parties involved.<\/p>\n<p>As the trial \u2062continues, it \u2063remains to be seen \u200chow the court will interpret the evidence presented. However, the confirmation by a \u200dDeutsche Bank \u200cexecutive certainly adds a compelling layer to the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/supreme-court-ducks-emergency-appeal-in-tennessee-abortion-case\/\" title=\"Supreme Court Ducks Emergency Appeal in Tennessee Abortion Case\">ongoing legal battle<\/a> between Donald Trump and the New York Attorney General.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Deutsche Bank AG executive confirmed on Tuesday that former President Donald Trump&#8217;s claims about the fraud lawsuit brought by New York Attorney General Letitia James were true: No victims were found. James&#8217; case alleges that the Trump Organization overestimated property values, deceiving banks like Deutsche<\/p>\n","protected":false},"author":662,"featured_media":2111187,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2111186","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2111186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/662"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2111186"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2111186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2111187"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2111186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2111186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2111186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}