(FixThisNation.com) – Ivanka Trump provided a significant disclosure concerning an undisclosed arrangement her father, Donald Trump, engaged in with the Trump Organization’s principal financier. She revealed that the former president had taken loans from his offspring to fulfill a financial commitment.
On Wednesday, while Ivanka was on the witness stand in a civil fraud lawsuit seeking $250 million in damages against her father, her brothers, and their family enterprise, the discussion veered into this territory. The lawsuit alleges that the Trump family inflated their assets to secure loans and insurance terms under false pretenses, also aiming for tax advantages.
Prosecutors brought attention to 2011 emails Ivanka sent to Deutsche Bank. In these emails, she confirmed her father’s personal guarantee within the loan agreement with Deutsche Bank, which required him to maintain a net worth of at least $3 billion for significantly reduced interest rates.
Legal commentator Lisa Rubin, speaking on MSNBC, pointed out that Donald Trump had a pact with his adult children, who pledged their assets to back him up in fulfilling his guarantee to Deutsche Bank — a guarantee meant to be his sole responsibility.
Neama Rahmani, a former federal prosecutor, explained to Newsweek that while personal guarantees are standard for bank loans, and Trump could legally request his children to back the loan, the critical factor is what Trump represented to the bank. If Trump claimed his children’s assets as his own, it would constitute fraud. However, if there was no deception, it might at most be a contractual dispute.
Rubin suggested that Trump’s decision to have his children co-sign indicated he was shifting financial responsibility, which was a surprise revelation in the courtroom.
When questioned about her role in the Deutsche Bank agreement, Ivanka claimed memory lapses in court. Despite evidence suggesting Ivanka knew the deal’s conditions would be problematic, she refuted claims that her family deceived the bank.
Ivanka Trump, who had served as the executive vice president of the Trump Organization, left the company in 2017 to work in the White House with her father. Her status as a defendant in this lawsuit was dismissed earlier in the year, as the allegations against her were considered time-barred by the statute of limitations.
Copyright 2023, FixThisNation.com