Ivanka Trump's testimony allows prosecutors to introduce 'damning' loan documents
November 08, 2023
Ivanka Trump's testimony allowed New York prosecutors to enter key documents into evidence in her family's fraud trial.
Former president Donald Trump's eldest daughter testified Wednesday that she did not recall nearly any of the loan terms or negotiations, even when shown email conversations she took part in at the time, but her participation in those communications allowed prosecutors to enter those documents as evidence the judge may consider, reported MSNBC's Lisa Rubin.
"Some of those documents, as I have already noted, are damning," Rubin noted in a piece of news analysis posted on MSNBC. "Especially Ivanka’s admission in an internal Trump Org. email that the terms offered by Deutsche Bank’s private wealth management group were as good as they get, even if concerns about Trump’s ability to satisfy the bank’s covenants were in doubt."
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The Trump Organization was unable to secure favorable loan terms for Doral in Florida through commercial real estate lenders or private equity firms, including Trump ally Tom Barrack's Colony Capital, so they turned to Rosemary Vrablic of Deutsche Bank’s private wealth management group.
"Unable to find financing with acceptable interest rates, Ivanka was rescued by Rosemary Vrablic, who offered an interest rate that was almost too good to be true in exchange for two key variables: a personal guarantee from Donald Trump and a minimum net worth of $2-3 billion, exclusive of the estimated value of his brand," Rubin reported. "These were not incidental to Deutsche Bank’s decision to lend; they were, in fact, instrumental to that decision."
Ivanka Trump seemed to recognize the terms were almost too good to be true, because she said in an internal Trump Organization email in December 2011 that "it doesn't get better than this."
She testified that the email did not refresh her memory, but she agreed the terms offered by Vrablic were favorable, and Trump Organization lawyer Jason Greenblatt seemed to agree in his email response.