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Tuesday, February 27, 2024

Trump’s Civil Fraud Trial Unravels Backstory of up to $125 Million Loan From Deutsche Bank

Trump’s Civil Fraud Trial Unravels Backstory of up to $125 Million Loan From Deutsche Bank

By Adam Klasfeld, The Messenger

Excerpt:

“Trump reported his net worth on his statement of financial condition at $4.3 billion in 2011, a number that both the attorney general and the trial judge have found fraudulent. 

‘Deutsche ultimately knocked down that calculation to a more conservative $2.4 billion, which the AG alleges was still far higher than his actual net worth of $1.6 billion. The terms of the loan required Trump to agree to covenants including one forcing him to maintain a “minimum net worth of $2.5 billion.'”

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