No. of Recommendations: 11
The "guilty" part of the verdict is already in with the New York State fraud case concerning the years of fraudulent financial statements The Trump Organization prepared to obtain more favorable loan terms from banks while failing to pay matching levels of state and local taxes on the same assets. Nonetheless, information highlighted during Ivanka Trump's testimony on November 8, 2023 may reflect a turning point for their future as a business entity and possibly as a (dysfunctional) family.
NBC commentator Lisa Rubin noted that prosecutors described a series of loans Donald Trump obtained from Deutsche Bank for The Trump Organization that included a guarantee that DJT would use his personal assets to pay back the loans should TTO for some reason become unable to make the payments. That's DJT alone, implying DJT alone has enough in assets to pay the loans back if The Trump Organization operation fails in any way to make enough money to make the payments.
With Ivanka on the stand, prosecutors then pointed out that at the same time DJT was signing those loan deals with Deutsche Bank, he was executing written agreements with Junior, Eric and Ivanka confirming that THEY would use their funds (Rubin presumes funds Trump gave to trusts set up in their names) to help pay back those loans should The Trump Organization become unable to.
That's bank fraud.
That not only confirms he lacked the liquidity he claimed to the bank while applying for the loan and misrepresented his personal financial state but that he was worried enough about both the performance of The Trump Organization and his own personal liquidity that he decided to nail down agreements with three of his children -- all of who benefited from the loans being offered to The Trump Organization -- for them to backstop his financial, ahem, assets.
I'm guessing a lot of ketchup hit the wall last night in Trump Tower.
WTH
