#rosemary vrablic
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Did Deutsche Bank Just Destroy New York AG's Case Against Trump?
A Deutsche Bank executive may have just tanked New York Attorney General Letitia James' lawsuit against former President Donal Drump - which revolved around portraying the German lender as Trump's biggest victim in an alleged scheme to inflate his assets in order to obtain favorable terms from banks and insurers.
David Williams, who directly worked on at least one of several loans obtained by Trump over several decades, 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 approve a loan anyway, as they did with Trump, Bloomberg reports.
"It just depends on the circumstances," said Williams, a managing director at the bank.
Deutsche Bank, which loaned hundreds of millions of dollars to Trump for properties in Miami, Chicago and Washington, cut his stated net worth in 2011 and 2012 from about $4.2 billion to $2.3 billion, according to internal bank credit memos. The same documents indicated the bank approved the loans anyway because it expected them to generate a profit based on Trump’s history of successful developments and other criteria.
Trump, who denies wrongdoing and claims the case is politically motivated, is calling to the stand this week four current and former Deutsche Bank employees — including the family’s former private banker Rosemary Vrablic — as part of his defense case, seeking to flip the script on the state’s version of events. -Bloomberg
The testimony completely undermines AG James' premise, that Trump defrauded the German bank.
"As part of our due diligence, we subject a client’s asset value to adjustments," said Williams.
"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?" Trump attorney Jesus Suarez asked Williams.
"No," he replied.
"Why not?"
"It’s just a difference of opinion," Williams continued.
"I think we expect clients to provide information to be accurate."
Victimless crime?
Trump and two of his sons, Donald Trump Jr. and Eric Trump, testified earlier in the trial that no banks had been victimized by the alleged inflated valuation, and that various lenders had made millions of dollars in interest on the loans. Trump also argued that his name, and the potential for future development, was a factor in the previous valuations.
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Trump Cannot Participate in Closing Arguments in NY Civil Trial, Judge Engoron Says
This is wrong in so many ways!
NTD
5–7 minutes
New York Supreme Court Justice Arthur Engoron indicated to attorneys on Jan. 10 that former President Donald Trump likely won’t participate in closing arguments for his civil fraud trial.
Emails posted to the court docket show Justice Engoron telling Trump’s attorney Chris Kise: “Not having heard from you by the third extended deadline (noon today),” I assume that Mr. Trump will not agree to the reasonable, lawful limits I have imposed as a precondition to giving a closing statement above and beyond those given by his attorneys, and that, therefore, he will not be speaking in court tomorrow.”
President Trump’s lawyers, who have already appealed unsuccessfully for a directed verdict on the grounds of prosecutorial bias, will make their case on Jan. 11.
The email chain shows Justice Engoron telling Mr. Kise repeatedly that he needed to state whether the former president would abide by limitations he sought to impose.
“As I have already indicated to you, if Mr. Trump wishes to speak … you will have to tell me NOW that he will agree to the limitations I have imposed, which go without saying and apply to everyone, and he will have to agree to do so tomorrow, on the record,” Justice Engoron said in an earlier Jan. 10 email to Mr. Kise, the New York attorney general’s office, and other Trump attorneys.
Justice Engoron initially approved the unusual request, saying he was “including to let everyone have his or her say.”
But he said Trump would have to limit his remarks to the boundaries that cover attorneys’ closing arguments: “commentary on the relevant, material facts that are in evidence, and application of the relevant law to those facts.”
He would not be allowed to introduce new evidence, “comment on irrelevant matters” or “deliver a campaign speech”—or impugn the judge, his staff, the attorney general, her lawyers, or the court system, the judge wrote.
Trump attorney Christopher Kise responded that those limitations were “fraught with ambiguities, creating the substantial likelihood for misinterpretation or an unintended violation.
At 11:40 a.m. ET, Mr. Kise told Justice Engoron that he was being “very unfair.”
“You are not allowing President Trump, who has been wrongfully demeaned and belittled by an out of control, politically motivated Attorney General, to speak about the things that must be spoken about,” he said.
Justice Engoron responded: “I won’t debate this yet again. Take it or leave it. Now or never. You have until noon, seven minutes from now. I WILL NOT GRANT ANY FURTHER EXTENSIONS.”
Justice Engoron had denied Mr. Kise’s request to postpone closing arguments after President Trump’s mother died.
In their closing arguments, Trump’s legal team is expected to emphasize critical points from the direct examination of such witnesses as Rosemary Vrablic, a former Deutsche Bank managing director closely involved in efforts to grow business between the bank and the Trump Organization, and Eli Bartov, an expert on real estate accounting practices who spoke on the meaning of generally accepted accounting principles (GAAP) as applied to loans and insurance.
Since the trial began on Oct. 2, 2023, attorneys for New York Attorney General Letitia James’s office have attempted to build a case that in preparing SFCs to seek loans and insurance policies for Trump properties, members of the Trump Organization inflated the value of assets in a manner that involved conscious wrongdoing.
Throughout the government lawyers’ direct examination and cross-examination, they pulled up images on a courtroom screen of statements of financial conditions, emails, letters, contracts, and memoranda bearing the signatures of Mr. Donald Trump Jr., Mr. Eric Trump, Ivanka Trump, Mr. Weisselberg, Mr. McConney, and President Trump himself. The court heard witness after witness testify as to the content of conversations and email exchanges from as far back as 2012, and heard expert testimony about GAAP and whether the documents on the screen adhered to such norms and standards.
Ms. James, a Democrat, who had previously sought a $250 million settlement—almost one-tenth of President Trump’s estimated net worth of $2.6 billion—has announced that nothing less than $370 million will suffice as a penalty for inflated valuations of his assets.
Ms. James also seeks five-year bans on the former president’s sons, Eric Trump and Donald Trump Jr., taking part in any real estate deals.
President Trump blames the attorney general for what he sees as a politically motivated prosecution of the GOP’s 2024 front-runner.
He has also argued that Ms. James is going after him without real legal ground as crime surges on New York’s streets, and that her actions will drive businesses out of New York and deter others from operating in the city.
The Associated Press and Michael Washburn contributed to this report.
From The Epoch Times
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#politics#us politics#trump administration#donald trump#trump#fuck trump#anti trump#trump scandals#against trump#news#the new york times#deutsche bank#rosemary vrablic
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+ Rosemary Vrablic and Dominic Scalzi have worked closely together for years since joining Deutsche Bank a decade ago.
+ Vrablic was a trusted contact to the Tr*mp Organization and Kushner and assumed the bank's lending relationship with Tr*mp in the private side of the bank after the commercial lending division stopped doing business with Trump.
+ Deutsche Bank has loaned the Tr*mp Organization more than $300 million. ...
+ The Tr*mp Organization is under investigation by the Manhattan District Attorney's office and New York Attorney General and both agencies have subpoenaed the bank about its lending relationship with the company.
+ Investigators are looking into whether the Tr*mp Organization mislead or defrauded the lender by inflating the value of some of its assets, according to court filings.
#donald dunce#crooked donald#tr*mp private bankers quit Deutsche Bank#jared kushner wed ivanka tr*mp#jared kushner underqualified presidential adviser#jared kushner a tr*mp son-in-law#kushner condescends to Black Americans#kusher private bankers quit Deutsche Bank#tr*mp WH most corrupt regime in U.S. history#follow the money#Tr*mp Organization owes Deutsche Bank $300 million#Rosemary Vrablic#Dominic Scalzi
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RT @Amy_Siskind: Trump and Kushner's private banker, Rosemary Vrablic, as well as a longtime colleague, Dominic Scalzi have resigned from Deutsche Bank. The reason is thus far unclear. https://t.co/lFXmcPOMEJ 2PLAN22 http://twitter.com/2PLAN22/status/1341486374646591488
Trump and Kushner's private banker, Rosemary Vrablic, as well as a longtime colleague, Dominic Scalzi have resigned from Deutsche Bank. The reason is thus far unclear. https://t.co/lFXmcPOMEJ
— Amy Siskind 🏳️🌈 (@Amy_Siskind) December 22, 2020
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Angel Urena (via Twitter)
Take what you will from a spokesperson from the office of the former Prez BC.
Yet, the flood of bullshitters on the internet want you to forget under whose watch Epstein died. Also, it’s rather telling when there’s far more fake memes/photos/posts circulating around of Clinton’s ties to Epstein that have been debunked than the ones circulating of Trump. Many of the Clinton-Epstein memes/posts have about the same credibility as the whole far-flung Wayfair shipping QAnon allegations that flooded the internet (sadly enough, including here on Tumblr).
Keep in mind, the whole major purpose of QAnon is to deflect and distract from- while overlaying upon-any real pedophilia networks (Trump and many of his underlings-from Anton Lazzaro to Ralph Shortey, Bohemina Grove, Children of God, and the Olympic Gymnastic industry) operating in this world with a highly selective fabrication serving multiple agendas. We’ve already seen how the fruits (or abyssal destinies) of various Q supporters manifest themselves (suicides, homicide, train wrecks, forest fires, traffic blocks, pizzeria shootings, etc.).
Trump had ties to Epstein with Acosta, Barr, Dershowitz, Schoen, and the Deutsche Bank (Rosemary Vrablic). When a Federal Judge in New Jersey tried to investigate ties the Deutsche Bank had to Epstein, a man (a lawyer under major duress who happened to be a misogynist Trump supporter) arrived at her house and shot her son and husband.
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The transaction was a 2013 Park Ave. apartment purchased from a company called Bergel 715. Jared Kushner was a minority investor in the entity. But it looks like another client of Vrablic's also might have been involved.
What a mess!
https://www.nytimes.com/2021/02/03/business/rosemary-vrablic-trump-kushner-deutsche.html
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Hold #TRE45ON Trump Accountable: Freeze and seize Trump’s accounts and assets.
In the wake of the deadly riots on Capitol Hill last week, Deutsche Bank and Signature Bank (New York) have said they are cutting future ties with President Donald Trump.
Deutsche Bank, where the president has two personally guaranteed mortgages for a total of $340 million, is refraining from further business with Trump, according to a person familiar with the matter. The loans come due in 2023 and 2024.
In December, two of Trump's personal bankers at Deutsche Bank, Rosemary Vrablic and Dominic Scalzi, responsible for managing hundreds of millions extended to him over the years, resigned.
Forbes: Ivanka Trump served as its board member of Signature Bank
Signature Bank said it was closing two personal accounts in which the president held about $5 million.
"Signature Bank began the process to close President Trump’s personal accounts," company spokesperson Susan Turkell said in a statement.
"Signature Bank pledges it will not do business in the future with any members of Congress who voted to disregard the Electoral College.”
Ladder Capital, a small real estate investment trust that specializes in riskier debt that many other banks avoid, has issued Trump millions of dollars in loans for four of his New York properties.
Financial records filed with the New York Department of Finance show four loans to Trump by Ladder Capital for an estimated $282 million: $160 million for 40 Wall Street, $100 million for Trump Tower, $15 million for Trump Plaza, and $7 million for Trump International Hotel & Tower.
The loans were uncovered and first reported on by Wendy Siegelman, an independent reporter who has written for the Guardian and Buzzfeed.
CNN: Trump disclosure form
Has between $5 million and $25 million in checking-and-savings accounts at Capital One (COF)
Has between $500,000 and $1 million in accounts at JPMorgan Chase (JPM), according to the also listed
Has up to $250,000 in a money market account at Bank United.
Has up to $50,000 in a First Republic (FRC) checking account
The NYTimes has a list of businesses and institutions cutting ties with Trump and Republicans
#TrumpInsurrection #CapitolCoup #Sediction #MAGATerrorists #TrumpCoup #CapitolRiots #DomesticTerrorists #RepublicansComplicit
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Trump’s Deutsche Bank Private Lenders Resign Suddenly
(from CNN 12/22/20)
New York (CNN Business)The private bankers responsible for lending to President Donald Trump and Jared Kushner have resigned from Deutsche Bank, the bank said.
"Rosemary Vrablic and Dominic Scalzi have tendered their resignations to Deutsche Bank effective as of year-end, which was accepted by the bank," Daniel Hunter, a spokesman for the bank said in a statement. Vrablic and Scalzi have worked closely together for years since joining Deutsche Bank a decade ago. Vrablic was a trusted contact to the Trump Organization and Kushner and assumed the bank's lending relationship with Trump in the private side of the bank after the commercial lending division stopped doing business with Trump. Deutsche Bank (DB) has loaned the Trump Organization more than $300 million.
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