Well, well, well. The political prosecution of New York Attorney General Letitia James just took a significant hit after one expert witness testified.
Deutsche Bank executive David Williams explained to the court that it wasn’t impossible or unheard of for a bank to slash someone’s net worth by 50% and still grant them a loan under the same terms.
Williams went on to explain that banks take certain things into account such as the history of profitable ventures and the performance of the client in the investment world. In other words, President Trump did nothing wrong.
George of the Behizy independent media outlet asked: “Williams also said he personally went to Trump Tower in December 2011 to review bank and brokerage statements to verify there was $51.8 million in marketable securities [and] $178 million cash balances. So exactly who did Trump defraud here? And what laws were broken?”
BREAKING: The bank Trump allegedly defrauded just gave a testimony saying Trump did nothing wrong in their dealings with him.
“It’s not unusual or atypical for any client’s provide financial statements to be adjusted to this level to this extent.” Bank Exec David Williams… pic.twitter.com/Ud7LSjoiFR
— George (@BehizyTweets) November 29, 2023
Bloomberg featured a partial transcript of the testimony given by Williams:
Under questioning by Suarez, Williams said the bank always reviews a prospective client’s stated net worth and adjusts it as needed.
“As part of our due diligence, we subject a client’s asset value to adjustments,” Williams said.
“It’s part of our underwriting process we apply it to every client regardless of what’s reported.”
“Is a difference of opinion in asset values between the client and the bank a disqualifying factor to extend credit?” Suarez asked Williams. “No,” he replied.
MAGA patriots all pointed out the New York Attorney General’s weakening case against the 45th President of the United States. It seems like most clear-headed people agree: there was no fraud.
NY AG Letitia James’ Case Against Trump Gets Wrecked by Deutsche Bank Testimony. AG James says Trump mislead Deutsche Bank. The bank says he didn’t. It was business as usual. No fraud. A difference of opinion.
Did James bite off more than she can chew?https://t.co/B67WivbJkr
— MAGA PATRIOT TGM (TERI) (@udreams30) November 29, 2023
"It turns out that she [Letitia James] has a problem with her alleged ‘victim.’ The bank seems to have approved of Trump’s asset valuation."
NY AG Letitia James' Case Against Trump Gets Wrecked by Deutsche Bank Testimony https://t.co/ndYiIxk0Ex
— Trump2024_no_matter_what (@TexasTrump2024) November 29, 2023
David Williams,testified on Tuesday in Manhattan that it’s “atypical, but not entirely unusual” for a bank to internally slash a client’s stated asset values by 50% and still approve a loan, as they did with Trump, https://t.co/zPMDz4AtER
— *Delta♤Gun™* D1/4 (@Gun_DeltaFMF) November 29, 2023
CNN reports:
In 2013, Deutsche Bank also adjusted Trump’s operating cash flow to a negative $26 million but Williams said, “It’s not unusual for high net worth individuals’ cash flow to vary from year to year positives and negatives.”
Trump’s lawyers have argued that any apparent inflation of Trump’s net worth or asset valuations in his financial statement weren’t material or significant to the bank whose lenders adjusted the values downward significantly when considering the loan terms in the underwriting process.
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