The evidence shows that banks made money on these loans, which were paid off either early or on time. In fact, none of the banks complained about the Trump organization’s estimations, which were accompanied by a warning that the banks should not rely on those estimates.
Moreover, James is seeking to kill a corporation once viewed as iconic in New York, not just by denying the certificates for the Trumps to do business in the city but by imposing $250 million in penalties for money that no one actually lost.
That all became curiouser this week when two bankers were called by the defense. Rosemary Vrablic and David Williams worked on Deutsche Bank loans to the Trumps for years, and they testified that the banks made millions and viewed Trump as a much-sought-after “whale” client — what Vrablic described as a “very high net-worth individual.”
Williams testified that net worth is “subjective” in such documents as property valuations and are offered as mere “estimates.” It is not uncommon for a bank’s estimates to differ from a client’s.
Vrablic wrote emails at the time about the benefits to the bank in dealing with the Trumps, as well as pitches to the family that the bank was happy to extend conditions which allowed added benefits of “flexibility, rate and service” to get the business relationship.
Justice Engoron seemed irritated by the testimony, however, and when Trump counsel asked why the bank was so eager to secure future loans, Engoron snapped back: “They’re trying to make money. Why wouldn’t they be interested?”
The real question here is James’ overriding interest in killing the company. Engoron has already declared that Trump is guilty of fraud, and he is now weighing the massive penalties sought by James — and eagerly supported by many New Yorkers.
That eagerness could prove the court’s undoing, however. Some of Engoron’s earlier orders are currently under review. Yet it is James’ demand for the effective dissolution of the corporation and $250 million in penalties that could push this case beyond the curious to the unconstitutional.
R&I – TP
DGM
Article URL : https://themessenger.com/opinion/donald-trump-fraud-trial-engoron-letitia-james-bankers-testimony