The New York Attorney General has subpoenaed a bank used by President Donald Trump to finance a number of property projects, as well as his failed effort to buy the Buffalo Bills football team, an insider claims.
The office of Attorney General Letitia James is asking Deutsche Bank for documents relating to financing of three Trump hotels and the attempt to secure a loan to buy the Bills, according to the New York Times.
It has reportedly been prompted by longtime Trump lawyer Michael Cohen testifying before congress that the President routinely 'inflated' valuations of his property empire, including in financial statements provided to Deutsche Bank.
The office of New York Attorney General Letitia James, pictured earlier this year, has reportedly subpoenaed Deutsche Bank for documents relating to financing of three Trump hotels and the attempt to secure a loan to buy the Buffalo Bills in 2014
Cohen handed over internal Trump financial valuations from 2011 through 2013 – including documents he said were used to try to obtain a loan to purchase the Buffalo Bills football team in 2014 - to the House Oversight Committee.
Cohen's valuations show a sudden jump in Trump's self-proclaimed worth, from $4.6 billion in 2012 to $8.7 billion a year later, when he was angling to buy the team.
'These documents and others were provided to Deutsche Bank on one occasion where I was with them in our attempt to obtain money so that we can put a bid on the Buffalo Bills,' Cohen testified at the House Oversight Committee.
'I believe these numbers are inflated,' the former fixer said of the valuations generally.
At the time of Cohen's s congressional testimony, experts said a criminal case against Trump appears unlikely for several reasons, and according to the New York Times, the attorney general's investigation is civil - not criminal.
Donald Trump tried and failed to buy the NFL team Buffalo Bills in 2014, and had sought a loan from Deutsche Bank to do so
The investigation is said to have been prompted by longtime Michael Cohen, Donald Trump's former personal lawyer, testifying before congress that the President routinely 'inflated' valuations of his property empire
Deutsche Bank has been subpoenaed for 'loan applications, mortgages, lines of credit and other financing transactions in connection with the Trump International Hotel in Washington DC; the Trump National Doral outside Miami; and the Trump International Hotel and Tower in Chicago', the newspaper reported.
The statute of limitations- five years for most federal offenses - could preclude a prosecution. Trump could theoretically face criminal bank fraud charges if prosecutors could prove Trump intended to deceive with financial statements and that the bank relied on those figures, said John Coffee, a law professor at Columbia University.
The Justice Department, however, has held since 1973 that prosecuting a sitting president is unconstitutional.
Deutsche Bank have reportedly been told to hand over documents relating to the Trump International Hotel and Tower in Chicago, Illinois
Deutsche Bank has been subpoenaed for 'loan applications, mortgages, lines of credit and other financing transactions' in connection with three of Donald Trump's hotels, including the Trump International Hotel in Washington DC
Banks are skeptical of estimates of personal wealth, and Trump was well known for inflating the value of his assets. Trump once admitted in a deposition that his net worth calculations depend partly on 'my own feelings.'
Brand value is part of what accountants call 'goodwill' and is difficult to value. Companies frequently adjust goodwill because their estimates are so flawed. In 2017, publicly traded companies in the U.S. admitted they overestimated 'goodwill' by $35 billion, according to the advisory firm Duff & Phelps.
While Trump said he could get $4 billion for his brand, Forbes pegged the value at just $125 million two years later.
Trump was one of three known finalists in the bid to purchase the Bills in the summer of 2014 following the death of franchise founder and Hall of Fame owner Ralph Wilson. He lost out to the owners of the NHL's Buffalo Sabres, Terry and Kim Pegula, who purchased the Bills for $1.4 billion. The third group was led by rocker Jon Bon Jovi.
Deutsche Bank declined to comment when approached by MailOnline.
Link hienalouca.comhttps://hienalouca.com/2019/03/12/bank-used-by-trump-to-finance-hotels-and-bid-to-buy-buffalo-bills-is-subpoenaed-by-attorney-general/
Main photo article The New York Attorney General has subpoenaed a bank used by President Donald Trump to finance a number of property projects, as well as his failed effort to buy the Buffalo Bills football team, an insider claims.
The office of Attorney General Letitia James is asking Deutsche Bank for documents...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves US News HienaLouca
https://i.dailymail.co.uk/1s/2019/03/12/09/10869448-6798655-The_office_of_New_York_Attorney_General_Letitia_James_pictured_e-m-15_1552383380228.jpg
Комментариев нет:
Отправить комментарий