Donald Trump got caught red-handed during his $250 million New York bank fraud trial on Monday when lawyers for the New York attorney general’s office revealed Trump had long ago signed financial documents with the clear intent that they would be used to curry favor with banks.
After being shown a loan agreement he had signed with Deutsche Bank in 2012, Trump agreed that his faulty financial statements were intended to induce banks to lend money.
While it might not sound like much, the admission is key to the New York attorney general’s case, which hopes to prove that Trump deceived banks and insurers by massively overvaluing his net worth. Trump essentially admitted on the stand that these financial documents were produced with the express intent to induce lending. The Trump Organization was likely able to secure loans at far lower interest rates due to all the overinflated valuations.
The ‘fact’ is that nothing is done until it’s done. I hope you’re right. I’m not an optimist.
I’m not an optimist. I’m a realist with experience in the the legal system that is absolutely fucking sick and tired of unbridled cynicism from people that fundamentally do not understand how the legal system works.