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AP-National

Banker says Trump’s financial statements were key to loan approvals, but there were ‘sanity checks’

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Published 1:27 PM

By MICHAEL R. SISAK and JENNIFER PELTZ
Associated Press

NEW YORK (AP) — A retired bank official has testified that Donald Trump obtained hundreds of millions of dollars in loans using financial statements that a court has since deemed fraudulent. Former Deutsche Bank risk management officer Nicholas Haigh took the stand Wednesday at the former president’s New York civil fraud trial. Haigh said Trump’s financial statements were key to his approval for a $125 million loan in 2011 for his Doral, Florida, golf resort and a $107 million loan in 2012 for his Chicago hotel and condo skyscraper. But Haigh said the bank did do what might be called ‘sanity checks’ on the values Trump placed on assets.

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