The attorney general of New York, Letitia James, has dropped new subpoenas on two banks, Deutsche Bank and Investors Bank. Those banks are connected to four different Trump Organization projects, including Trump’s unsuccessful attempt to buy the Buffalo Bills football team. It’s all part of the fallout from Michael Cohen’s congressional testimony.
When Cohen, Trump’s former fixer, testified before Congress two weeks ago, he stated that Trump inflated his net worth on financial statements. In fact, Cohen said that Trump gave Deutsche Bank falsified statements that overstated his net worth by $4 billion when he was angling to purchase the Bills.
Apparently, even Deutsche Bank, which loaned Trump money when no one else would, knew Trump’s estimations of his wealth were absurd. Officials at the bank viewed his estimates as “wildly optimistic,” and they would usually decrease them by as much as 70 percent.