To: Bill who wrote (1424641 ) 11/9/2023 5:15:58 PM From: Brumar89 3 RecommendationsRecommended By
Read Replies (1) | Respond to ...... On Wednesday, Ivanka Trump was asked questions about a 2011 email in which she acknowledged her father may not be able to meet a requirement from Deutsche Bank that his net worth be above $3 billion so a deal with the lender to purchase the Doral golf club in Miami could go through. The emails appeared to show that Ivanka Trump still wanted the company to approve the deal regardless. "We wanted to get a great rate and the only way to get proceeds/term and principal where we want them is to guarantee the deal, " she wrote to a Trump Organization lawyer. At the trial, she was shown a 2011 email in which she acknowledged that a requirement by lender Deutsche Bank that her father maintain a net worth of at least $3 billion was a problem that they "have known from day one" but encouraged company officials to approve it anyway. ......... A deal was eventually struck, with Trump as a guarantor, for the Deutsche Bank loan to go through, providing the former president's net worth was above $2.5 billion. That year, Trump claimed a net worth of $4.3 billion in financial statements, with James' office stating Trump's net worth was actually $1.6 billion in 2011. ........... Prosecutors allege that the financial statements were used to mislead lenders to give the company better bank loans. ............. In October, former Deutsche Bank risk management officer Nicholas Haigh testified that the former president was able to obtain hundreds of millions of dollars in loans after using fraudulent financial statements. "I assumed that the representations of the assets and liabilities were broadly accurate," Haigh said of Trump's financial statements. .......... newsweek.com
