Trump used to try and get loans from banks by falsifying how much money he had

[Peacetrain]

https://www.pbs.org/newshour/politics/donald-trumps-fraudulent-financial-statements-were-key-to-getting-loans-former-bank-official-says

NEW YORK (AP) — Donald Trump obtained hundreds of millions of dollars in loans using financial statements that a court has since deemed fraudulent, a retired bank official testified Wednesday at the former president’s New York civil fraud trial.

"Trump’s statements of financial condition were key to his approval for a $125 million loan in 2011 for his Doral, Florida, golf resort and a $107 million loan in 2012 for his Chicago hotel and condo skyscraper, former Deutsche Bank risk management officer Nicholas Haigh testified.

They also helped Trump secure bigger loans and lower interest rates, said Haigh, who headed the risk group for the bank’s private wealth management unit from 2008 to 2018.

A judge last month ruled that Trump and his company, the Trump Organization, committed years of fraud by exaggerating the value of Trump’s assets and net worth on the financial statements he gave to banks, insurers and others to make deals and secure loans."

[efhmc]

1. And so?

[Peacetrain]

3. Trump is wanting to accuse people of Mortgage Fraud.. something he did..

It is his MO. He breaks laws and then accuses other of doing the crimes he did. Anytime Trump comes out and accuses anyone of anything.. all you have to do is look back and see how many times he has been accused of said same crime..

[karynnj]

5. Not to mention his fraud has been proven and is far bigger than anyone he has accused

In many of their cases, they did nothing or very little wrong. Certainly not a series of loans all with falsified financials. Trump enterprises actually had double books.

[Peacetrain]

6. Precisely!!!

[lame54]

2. Old news...

Just another thing he got away with

[Ocelot II]

4. This article is from 2023.

[ProfessorGAC]

7. Old News

And, I don't mean because the article is 2 years old.
It has been established fact 20+ years that it was impossible for him to have the net worth he claimed or was estimated by others using inflated values.
The cash flow (remember the multiple bankruptcies) just wasn't there.
It was loan stacking, and the only people who appeared oblivious to it were bankers.

[LetMyPeopleVote]

8. Deadline: Legal Blog-The Trump civil fraud case is a mess. Another round of appeal could clean it up.

New York Attorney General Letitia James has already signaled her intention to seek further review at the state’s highest court.

The Trump civil fraud case is a mess. Another round of appeal could clean it up.

New York Attorney General Letitia James has already signaled her intention to seek further review at the state’s highest court.
www.msnbc.com/deadline-whi...

— Phyllis B Kantor (@wiselady11.bsky.social) 2025-08-22T15:54:35.908Z

https://www.msnbc.com/deadline-white-house/deadline-legal-blog/trump-civil-fraud-case-letitia-james-appeal-new-york-rcna226377

But that was just the beginning. The oddity grew upon seeing, toward the start of the first of three separate decisions from the five-justice panel, that “none of the three decisions garners a majority.”.....

That first opinion, by Justice Peter Moulton joined by Justice Dianne Renwick, said that those two justices thought New York’s attorney general acted lawfully in bringing the fraud case. But they said that ordering the defendants to “pay nearly half a billion dollars” to New York amounts to an “excessive” and unconstitutional fine.

The second opinion, by Justice John Higgitt joined by Justice Llinét Rosado, agreed that James had the authority to bring the suit but said they thought a new trial was warranted.

The third opinion, by Justice David Friedman, argued for dismissing the case outright in Trump’s favor.

So, we have three opinions saying different things. How did the panel attempt to come to a resolution?....

Though they thought a new trial was needed, their opinion said that “after much consideration, with great reluctance and with acknowledgement of the incongruity of the act,” they agreed to join the bottom line of Moulton and Renwick’s opinion that tosses out the massive financial penalty as well as sanctions on Trump defense lawyers, while otherwise upholding the case in James’ favor.

Citing the “truly extraordinary circumstances here, where none of the writings enjoys the support of a majority,” they said the parties “must have a decision on this matter and, concomitantly, the option of further review of this matter by the Court of Appeals.”....

James, who has denied any wrongdoing herself, said in a statement Thursday that the appeals court “affirmed the well-supported finding of the trial court: Donald Trump, his company, and two of his children are liable for fraud.” She said the court “upheld the injunctive relief we won, limiting Donald Trump and the Trump Organization officers’ ability to do business in New York. It should not be lost to history: yet another court has ruled that the president violated the law, and that our case has merit.” She concluded: “We will seek appeal to the Court of Appeals and continue to protect the rights and interests of New Yorkers.”

I followed the trial of this case and I listened to the oral arguments in this case. Prior to the oral arguments, the court had on its own motion reduced the bond that trump was required to post from $500 million or so to $175 million. I personally thought that the judge used the wrong measure of damages in his judgment and was expecting to see a remittitur or reduction of damages.

The Court of Appeals (the highest court in NY) is going to have fun in this case. The fact that court found that trump violated the law and upheld the injunctions is meaningful. trump and his kids are banned from being an officer in a New York corporation.