Retired Deutsche Bank official testifies that Trump’s financial statements were key to loan approvals
NEW YORK — 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 longtime finance chief, Allen Weisselberg, acknowledged in testimony Tuesday that information in the financial statements wasn’t always accurate. Deutsche Bank’s DB, +0.37% rules required Trump to act as a guarantor for the Doral and Chicago loans, in addition to putting up the Miami-area resort and Wabash Avenue skyscraper as collateral.
“I assumed that the representations of the assets and liabilities were broadly accurate,” Haigh said of Trump’s financial statements.
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