Lawyers for Donald Trump are gearing up for the next chapter in the former president’s civil fraud trial, centered on the relationship between the mogul and his go-to lender.
Trump’s relationship with Germany’s Deutsche Bank — and vice versa — is likely to play a key part in his defense, Bloomberg reported. New York Attorney General Letitia James’ team spent six weeks portraying the bank as a victim of the Trump Organization’s fraudulent financial statements.
Days after Trump testified the bank was “thrilled” with him, the defense will likely look to demonstrate that with evidence of the bank’s support for his projects in Miami, Chicago and Washington. They’re also expected to bring witnesses connected to the bank to testify, including Rosemary Vrablic, a former member of the company’s wealth management unit who was the personal banker for the Trump family.
Ivanka Trump in testimony last week partially detailed the coziness between the Trump clan and the bank, claiming Vrablic “courted” the family’s business. Through Vrablic, Deutsche Bank loaned the Trump family roughly $300 million. Vrablic also asked Ivanka to appear in a promotional video for the bank, though it’s unclear if that video was made; Ivanka said she had no recollection of it.
Deutsche Bank’s lending to the family firm came to a halt during the former president’s first run for the Oval Office. Vrablic told Ivanka in an email that the banker put a loan request in front of the bank’s chief executive officer, but was denied. Deutsche Bank cut ties altogether following the Capitol riot, a month after Vrablic departed the company over a real estate deal.
Even if the defense lawyers can demonstrate Deutsche Bank as an eager participant in the lending relationship and not a victim, the impact may be limited. The judge found Trump liable for fraud before the trial began, setting the non-jury trial up as a damages determinant. James has also said the bank can be a victim of the alleged fraud, even if it was tight with the clan.
James accused the Trumps of fraudulently manipulating financial statements obtained by banks and insurers. The civil trial could determine if they are fined up to $250 million and prohibited from doing business in New York, which would cost them control of the Trump Organization.
— Holden Walter-Warner
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