10:55 AM 3/1/2019 - Cohen: Trump sought Deutsche Bank loans by inflating assets - Fox Business | M.N.: Does this mean that Trump sold himself for the "value of his brand name, $4B", which covered his outstanding debt to the DB in 2012, after the Revolution in Ukraine and the overthrow of Yanukovich? And that now he is owned by the group of Oligarchs who guaranteed this loan when it was sold to the Sberbank in 2016 - 2018?
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M.N.: Does this mean that Trump sold himself for the "value of his brand name, $4B", which covered his outstanding debt to the Deutsche Bank in 2012, after the Revolution in Ukraine and the overthrow of Yanukovich? And that now he is owned by the group of Oligarchs who guaranteed this loan when it was sold to the Sberbank in 2016 - 2018?
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Quotes:
2 days ago - Cohen: Trump sought Deutsche Bank loans by inflating assets ... Michael Cohen is a professional liar, says ex-FBI official Kallstrom ... financial statements outlining Trump's assets and liabilities in 2011, 2012 and 2013.
Attorney Michael Cohen alleged on Wednesday that his former client President Trumpinflated his real estate assets when applying for loans from Deutsche Bank.
As part of his testimony to the House Oversight Committee, Cohen provided financial statements outlining Trump’s assets and liabilities in 2011, 2012 and 2013. In 2013, his net worth nearly doubled to $8.66 billion due to a new $4 billion line item attributed to “brand value.”
That next year, Trump submitted those documents to Deutsche Bank to try to obtain a loan to bid on the Buffalo Bills – a failed effort given the NFL team was eventually sold to Terry Pegula -- and the Forbes company.
“I believe those numbers are inflated,” said Cohen, who was previoulsy sentenced to prison for three years for lying to Congress.
Trump Exaggerated His Wealth in Bid for Loan, Michael Cohen Tells ...
2 days ago - The president's former lawyer, Michael Cohen, testified that Donald Trump ... Deutsche Bank officials viewed some of the values Mr. Trump assigned to ... Mr. Trump's personal assets and liabilities in 2011, 2012 and 2013.
As part of his testimony on Wednesday, Mr. Cohen provided financial documents that described Mr. Trump’s personal assets and liabilities in 2011, 2012 and 2013. The documents covering 2011 and 2012 were previously presented to Deutsche Bank; it was not clear whether the 2013 documents were as well.
In the documents, Mr. Trump reported a net worth of up to about $8.7 billion, with much of it coming from the value of his brand and his portfolio of residential properties, office buildings and golf resorts in the United States and overseas.
Mr. Cohen told members of the House Oversight Committee that he was there when the documents were presented to Deutsche Bank. “I believe these numbers are inflated,” he told the committee. He did not elaborate on which assets he was referring to or to what degree their values were exaggerated.
Attorney Michael Cohen alleged on Wednesday that his former client President Trump inflated his real estate assets when applying for loans from Deutsche Bank.
As part of his testimony to the House Oversight Committee, Cohen provided financial statements outlining Trump’s assets and liabilities in 2011, 2012 and 2013. In 2013, his net worth nearly doubled to $8.66 billion due to a new $4 billion line item attributed to “brand value.”
That next year, Trump submitted those documents to Deutsche Bank to try to obtain a loan to bid on the Buffalo Bills – a failed effort given the NFL team was eventually sold to Terry Pegula -- and the Forbes company.
“I believe those numbers are inflated,” said Cohen, who was previoulsy sentenced to prison for three years for lying to Congress.
Cohen cited a real estate holding Trump said was worth $524.7 million in 2011 that was ultimately based upon what he "wanted to value the asset at." The Trump Organization obtained an appraisal in 2015 on the 40 Wall Street property that valued it at $540 million, according to the Real Deal.
In a statement released on Tuesday, the White House said “disgraced felon Michael Cohen is going to prison for lying to Congress and making other false statements.
“Sadly, he will go before Congress this week and we can expect more of the same. It’s laughable that anyone would take a convicted liar like Cohen at his word, and pathetic to see him given yet another opportunity to spread his lies,” Press Secretary Sarah Sanders said.
A Deutsche Bank spokesman declined to comment.
Ticker Security Last Change %Chg
DB DEUTSCHE BANK AG 9.44 +0.20 +2.16%
The bank has been a key focus of Democrats in their investigation into Trump and his business dealings.
House Intelligence Chairman Adam Schiff and Financial Services Chairwoman Maxine Waters – both Democrats from California – sent an initial request for information from Deutsche Bank in January. A spokesman at the time told Fox Business the bank “is engaged in a productive dialogue from those Committees to determine the best and most appropriate way of assisting them.”
Deutsche Bank previously rebuffed Waters’ attempts to obtain information on Trump’s ties to the lender, which go back to 1998 when it provided Trump a loan to renovate a property. In 2018, Deutsche Bank also loaned Trump $130 million to construct the Trump International Hotel in Washington, D.C.
Mr. Cohen told members of the House Oversight Committee that he was there when the documents were presented to Deutsche Bank. “I believe these numbers are inflated,” he told the committee. He did not elaborate on which assets he was referring to or to what degree their values were exaggerated.
Attorney Michael Cohen alleged on Wednesday that his former client President Trump inflated his real estate assets when applying for loans from Deutsche Bank.
As part of his testimony to the House Oversight Committee, Cohen provided financial statements outlining Trump’s assets and liabilities in 2011, 2012 and 2013. In 2013, his net worth nearly doubled to $8.66 billion due to a new $4 billion line item attributed to “brand value.”
That next year, Trump submitted those documents to Deutsche Bank to try to obtain a loan to bid on the Buffalo Bills – a failed effort given the NFL team was eventually sold to Terry Pegula -- and the Forbes company.
“I believe those numbers are inflated,” said Cohen, who was previoulsy sentenced to prison for three years for lying to Congress.
Cohen cited a real estate holding Trump said was worth $524.7 million in 2011 that was ultimately based upon what he "wanted to value the asset at." The Trump Organization obtained an appraisal in 2015 on the 40 Wall Street property that valued it at $540 million, according to the Real Deal.
In a statement released on Tuesday, the White House said “disgraced felon Michael Cohen is going to prison for lying to Congress and making other false statements.
“Sadly, he will go before Congress this week and we can expect more of the same. It’s laughable that anyone would take a convicted liar like Cohen at his word, and pathetic to see him given yet another opportunity to spread his lies,” Press Secretary Sarah Sanders said.
A Deutsche Bank spokesman declined to comment.
Ticker | Security | Last | Change | %Chg |
---|---|---|---|---|
DB | DEUTSCHE BANK AG | 9.44 | +0.20 | +2.16% |
The bank has been a key focus of Democrats in their investigation into Trump and his business dealings.
House Intelligence Chairman Adam Schiff and Financial Services Chairwoman Maxine Waters – both Democrats from California – sent an initial request for information from Deutsche Bank in January. A spokesman at the time told Fox Business the bank “is engaged in a productive dialogue from those Committees to determine the best and most appropriate way of assisting them.”
Deutsche Bank previously rebuffed Waters’ attempts to obtain information on Trump’s ties to the lender, which go back to 1998 when it provided Trump a loan to renovate a property. In 2018, Deutsche Bank also loaned Trump $130 million to construct the Trump International Hotel in Washington, D.C.
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2 days ago - Cohen: Trump sought Deutsche Bank loans by inflating assets ... Michael Cohen is a professional liar, says ex-FBI official Kallstrom ... financial statements outlining Trump's assets and liabilities in 2011, 2012 and 2013.
2 days ago - The president's former lawyer, Michael Cohen, testified that Donald Trump ... Deutsche Bank officials viewed some of the values Mr. Trump assigned to ... Mr. Trump's personal assets and liabilities in 2011, 2012 and 2013.
2 days ago - Michael Cohen, right, President Trump's former personal lawyer, walks ... the value of his real estate assets and the amount of his outstanding debts. ... premiums and obtain a Deutsche Bank loan to buy the NFL's Buffalo Bills ...
2 days ago - Trump's former fixer and lawyer Michael Cohen accuses Trump of being a ... of Trump's assets and liabilities and a bottom line declaration of his worth. ... when Trump was trying to secure a loan from Deutsche Bank for an ...
2 days ago - NEW YORK (AP) — Michael Cohen said during his congressional ... before becoming president, including inflating his assets during a. ... gave financial statements to Deutsche Bank in hopes of getting a loan. ... NFL rules require owners to control 30 percent of the team and have a debtlimit of $350 million.
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