New documents and testimony in the New York civil fraud case against former President Donald Trump from Attorney General Letitia James may lead to a major change in the case.
The bank involved in the accusations against Trump over his net worth now claims his adjustments were not unusual, as James has claimed.
Did Letitia James’ case against Trump’s business empire just completely fall apart? https://t.co/iEbEBvrXVK
— Bo Snerdley (@BoSnerdley) November 30, 2023
“It’s not unusual or atypical for any client’s provide[d] financial statements to be adjusted to this level to this extent,” banker David Williams said during the trial Tuesday.
“I think we expect clients-provided information to be accurate,” Williams said. “At the same time, it’s not an industry standard that these statements be audited. They’re largely reliant on the use of estimates.”
Deutsche Bank Testimony Destroys AG Letitia James's Case Against Trump.
Deutsche Bank executive David Williams testified in Manhattan on Tuesday, arguing that net worth can be elevated on s...
— The National Pulse (@TheNatPulse) November 29, 2023
"The lawsuit argues that Trump inflated his assets to obtain favorable terms from banks and insurers, portraying Deutsche Bank as Trump’s biggest victim," according to the National Pulse.
"Williams, however, drew attention to the bank’s standard practice of independently reducing a client’s stated asset values before loan approval, which was the case with Trump," it continued.
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
— *Gun♤Delta™* D1/4 (@Gun_DeltaFMF) November 29, 2023
"Earlier in the trial, Trump and two of his sons, Donald Trump Jr. and Eric Trump, testified that no banks had been harmed by the alleged inflated valuation, and that multiple lenders had profited millions of dollars in interest on the loans," Trending Politics reported.
"Trump also claimed that the earlier assessments took into account his name and the possibility for future development," it noted.
The case is one of several against the former president as he seeks a comeback bid to the White House next year.
In addition to the New York fraud trial, Trump faces additional cases in Florida over classified documents found in his home last year, along with cases in Georgia and Washington.
The latest development in the New York case may be a major win for Trump as he continues to defy the odds in his hopes to return as president.