Bingo: Trump Admits Intent to “Induce Lending” With Financial Statements - eviltoast

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.

  • RojoSanIchiban@lemmy.world
    link
    fedilink
    arrow-up
    6
    arrow-down
    2
    ·
    1 year ago

    I’ve long expected him to run off to Russia and I’m continually surprised he hasn’t. Maybe he still somehow thinks he’ll skate or otherwise knows he doesn’t have a way in? Maybe that’s why he’s been buttering them up in his speeches.

    And to the other point, absolutely agree. That’s been the one thing that’s kept me more optimistic, that once he’s put away or buried under a piss-covered headstone, there’s no one capable of controlling the cult. The craziest of the crazies will go on with doomsday conspiracies with miraculous returns that never happen, but the head of the magatshitsnake will be cut off.

    • rifugee@lemmy.world
      link
      fedilink
      arrow-up
      9
      arrow-down
      1
      ·
      1 year ago

      I think the reason he hasn’t fled is because he’s so narcissistic and delusional that he honestly believes that he did nothing wrong.