Deutsche Bank Executive Testifies Loan to Trump Wasn't Unusual
- Bank disputed Trump’s net worth, but still provided him loans
- ‘Difference of opinion’ on assets not uncommon, banker says
Donald Trump
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A Deutsche Bank AG executive gave testimony that could bolster Donald Trump’s defense in his civil fraud trial, telling a New York judge that prospective clients can get loans even after reporting a net worth far higher than the lender’s own calculations.
David Williams, who worked on at least one of three loans Deutsche Bank made to Trump in the years before he was elected president, testified Tuesday that it’s “atypical, but not entirely unusual” for the bank to cut a client’s stated asset value by 50% and approve a loan anyway, as it did with Trump.