Live reporting on Ivanka Trump’s testimony from the BBC

  • @girlfreddyOP
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    58 months ago

    We’re still going over the terms of the Deutsche Bank loan to the Trumps for their Doral golf course and the emails that went back and forth at the Trump Organization about it.

    The bank had proposed a covenant that required Donald Trump to maintain a minimum net worth of $3bn (£2.4bn) to get the loan.

    Prosecutors are showing emails from within the Trump Organization, that Ivanka Trump was involved in, discussing what net worth terms they could accept.

    One Trump Organization lawyer voiced a concern that the $3bn number was a “problem”.

    The prosecution’s Lou Solomon asks whether Ivanka was aware that Trump’s 2011 statements of financial condition said he was worth $4bn.

    She responds, no.

    The Trump Organization ultimately proposed a $2bn net worth covenant; the final loan turned out to hold Donald Trump to $2.5bn.