Deutsche Bank saw Trump as ‘whale’ of a client, NY fraud trial documents show

[mystery-ak]

 Deutsche Bank saw Trump as ‘whale’ of a client, NY fraud trial documents show
by Ella Lee - 11/29/23 3:02 PM ET

Deutsche Bank eagerly pursued former President Trump as a “whale” of a client more than a decade ago, and their partnership became mutually beneficial over the years, according to documents introduced by Trump’s legal team Wednesday during his ongoing fraud trial.

Trump’s counsel introduced emails from 2011 between then-bank managing director Rosemary Vrablic and colleagues, in which Vrablic expressed significant interest in working with the Trumps.

“We are whale hunting,” she wrote after meeting Donald Trump Jr., before she had met his father. The bankers used “whale” to refer to very wealthy clients, she testified Wednesday.

Trump’s relationship with Deutsche Bank is a core component of New York Attorney General Letitia James’s lawsuit against the former president, his business and several executives — including his adult sons. The state claims the Trump Organization falsely inflated and deflated the value of its assets on key financial statements to receive lower taxes and better insurance coverage, deceiving lenders and insurers in the process.

As part of its defense, Trump’s counsel has attempted to show that bankers were excited to work with the former president’s business and that there was “no victim” of its business dealings. According to a bank document prepared for Deutsche Bank’s then-co-chairman in 2013, shown as evidence at trial, the bank’s revenue from its business with Trump skyrocketed from around $13,000 in 2011 to a projected $6 million in 2013.

more
https://thehill.com/regulation/court-battles/4333700-deutsche-bank-trump-ny-fraud-trial/

[DefiantMassRINO]

I learned something working for a financial services company ... DON'T F WITH THE EXECUTIVE BONUSES!

In a post-2008 era of private profit and socialized losses, why not roll the dice?  It's not your money at risk - it's the shareholders', depositors', and taxpayers' problem if the deal in a lemon.

[Elderberry]

Report: Testimony has 'blown up' Letitia James' fraud case against Trump

WND 11/29/2023

Banker says loan procedures not out of the ordinary

A new report reveals that testimony from Deutsche Bank officials in New York Attorney General Letitia James' claims that Donald Trump's companies engaged in fraud has "blown up" the case.

James campaigned for her statewide office on the slogan of getting Trump, even though there was no evidence of wrongdoing on the part of his companies. She's now in court, claiming fraud and demanding $250 million in damages and the execution of his New York enterprises, even though there's no evidence of unpaid loans, irate partners, unmade payments, or anything of that kind.

Trump has charged repeatedly that it's no more than a political witch hunt in which James, apparently with the aid of Judge Arthur Engoron, is trying to inflict as much damage on him as possible, without cause.

A report in The Gateway Pundit explains now how testimony from a Deutsche Bank official undermined James' claims.

The report first explained the executive "gave testimony that could bolster Donald Trump’s defense in his civil fraud trial, telling a New York judge that prospective clients can get loans even after reporting a net worth far higher than the lender’s own calculations."

"David Williams, who worked on at least one of three loans Deutsche Bank made to Trump in the years before he was elected president, testified Tuesday that it's 'atypical, but not entirely unusual' for the bank to cut a client’s stated asset value by 50% and approve a loan anyway, as it did with Trump."

Williams worked on at least one of the loans Deutsche Bank made to Trump before he was president, and said the stated assets are merely an opinion and a difference of opinion in asset values does not disqualify a borrower.

The Pundit explained, "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."

More: https://www.wnd.com/2023/11/report-testimony-blown-letitia-james-fraud-case-trump/

[mystery-ak]

https://twitter.com/leslibless/status/1730024650053214383

[DefiantMassRINO]

... hasn't Deutsche Bank been on life-support since 2008?

Just because practices were "ordinary" doesn't mean they were compliant or sound.  Just means Deutsche Bank was a $h!tty bank.

They don't call them Banksters for nothing.