Thread by @karolcummins

📌If it is proven that Trump knowingly exaggerated his net worth, then journalists need to start using the word ‘lied.’

📌When anyone lies to a bank in order to receive credit or approval to underwrite a securities issue, this is called fraud. forbes.com/sites/mayrarod…

📌Bloomberg presented numerous incidents going back twenty years of Trump “inflating his wealth” when trying to obtain approval for loans or securities underwriting.
bloomberg.com/opinion/articl…

📌📌These incidents seriously call into question the quality of Deutsche Bank’s risk management enterprise-wide.
forbes.com/sites/mayrarod…

Deutsche Bank ♥️ Trump

https://twitter.com/karolcummins/status/1108143652725907456?s=21

People lie to banks, b/c they are looking to receive not only approval for a loan or an investment product, but also because they are looking for more favorable terms.

📌Did Trump receive more favorable terms?

If so, based on which substantiated factors?
forbes.com/sites/mayrarod…

📌Fraud is an important element of operational risk, which under the Basel Committee for Banking Supervision’s Basel Accord (now Basel III) is defined as a breach in the day-to-day running of a business
forbes.com/sites/mayrarod…

Fraud can be external, that is someone outside of a bank lies to the bank to obtain approval for a transaction.
forbes.com/sites/mayrarod…

📌Yet, fraud can also happen within a bank, that is, if a professional at a bank helps a customer obtain a loan or financial transaction by helping the customer lie
forbes.com/sites/mayrarod…

📌📌Or by making changes to relevant information or interfering in an established bank process to help a client get approval for the transaction.

📌📌Did Deutsche Bank employees bend the established protocols to secure loans for Trump?
forbes.com/sites/mayrarod…

No doubt, more information will be coming out about Trump and his relations with Deutsche Bank as the New York Attorney General analyzes documents for which a subpoena was issued on March 11, 2019.
nytimes.com/2019/03/11/nyr…

📌We will soon learn more as the U.S. Committee on Financial Services, under the leadership of Representative Maxine Waters. She too requested information from Deutsche Bank.
americanbanker.com/opinion/house-…

Trump’s History With Deutsche Bank
nytimes.com/2019/03/18/bus…

📌What legal entities of Deutsche in the U.S. or abroad have approved loans or any financial transaction for Trump?

📌Were established banking procedures & protocols followed when Trump requested a loan or were there any deviations? If so, why?

forbes.com/sites/mayrarod…

📌Did any Deutsche Bank bankers visit the properties for which Trump was requesting loans?

📌Can you produce the documents, plans, and pictures Trump gave Deutsche Bank to support loan approval?

forbes.com/sites/mayrarod…

📌Did Deutsche bankers ask for the methodology that Trump used to determine the value of his assets, especially for real estate and his brand?
forbes.com/sites/mayrarod…

📌Did Deutsche Bank speak to Trump’s accountants?

📌And if there was a model to determine assets’ value, what is the expertise of the modeler? Was the model audited?

forbes.com/sites/mayrarod…

📌📌In 2004, Trump told Deutsche Bank that he was worth $3 billion.

📌However, Deutsche Bank calculated that he had a net worth of about $788 million.
nytimes.com/2019/03/18/bus…

📌What methodology did Deutsche Bank use to calculate his net worth?

📌Did Deutsche Bank show your methodology to Trump and his accountants and modelers?

📌What accounts for such a huge difference?
forbes.com/sites/mayrarod…

📌In the deposition ‘Trump, Plaintiff, vs. Timothy L. O’Brien’ on December 19, 2007, Trump described how he assesses his net worth

📌Is this methodology acceptable to Deutsche in determining net worth for all clients seeking loans?

📌To Deutsche Bank knowledge what academic papers use this methodology to determine net worth?
forbes.com/sites/mayrarod…

📌Given Trump’s history of defaults to other banks and to Deutsche Bank, what was his internal risk score at Deutsche?

forbes.com/sites/mayrarod…

📌📌Enrich states that Deutsche Bank “reaped fees from the assets he [Trump] put in its custody and leveraged his celebrity to lure clients.”

nytimes.com/2019/03/18/bus…

📌📌Please enumerate all the fees that Deutsche Bank earned and the clients that DB lured.

📌How did Deutsche Bank lure the clients?

📌Does Deutsche Bank have documentation of any kind where Deutsche Bank used Trump’s name to get more clients?
nytimes.com/2019/03/18/bus…

📌📌Given all the fines that Deutsche Bank have been charged, should Bank be increasing its operational risk portion of risk-weighted assets and hence your levels of regulatory capital?

dfs.ny.gov/search/site?se…

If Trump or Deutsche Bank are found to have committed fraud, how quickly will you raise capital for operational risk?

forbes.com/sites/mayrarod…

📌📌If legislators and regulators cannot get answers to these questions soon, perhaps it is high time we say not only auf wiedersehen to Deutsche Bank, but more appropriately, auf nimmerwiedersehen, (may we never see you again or good riddance).
forbes.com/sites/mayrarod…

📌NY's attorney general is one of the most powerful in the nation. That should worry Trump.

The state's chief legal officer, who is investigating the president and his company, has the ability to render a "judgment of corporate death" for business fraud..
nbcnews.com/politics/donal…

@threadreaderapp unroll please and thank you.

#DeutscheBank #Trump #Fraud