Donald Trump's Colossal Admission During Trial

Former President Donald Trump made what one legal analyst described as an "astonishing admission" during his Monday testimony in his civil fraud trial when he allegedly agreed that a statement of financial condition was intended to induce Deutsche Bank to lend him money.

Trump took the stand on Monday in the $250 million civil fraud trial in New York. Trump, his two eldest sons Donald Trump Jr. and Eric Trump, as well as The Trump Organization are co-defendants in the civil case brought by New York Attorney Letitia James, who is accusing the former president of inflating his net worth by billions of dollars to obtain benefits such as better bank loans and reduced tax bills.

In addition to the New York trial and other civil cases, Trump is facing 91 felony charges across four criminal indictments. He has pleaded not guilty to all charges and claims that all of his legal troubles amount to "election interference" as he campaigns in the 2024 presidential election.

Last month, New York Judge Arthur Engoron, who is overseeing the civil fraud trial, ruled that Trump, his adult sons, their businesses, and executives committed fraud. Moving forward, the court will rule on six other accusations, including falsifying business records, insurance fraud, and conspiracy claims. Engoron himself will rule on the charges, as Trump's legal team did not opt for a jury trial. The result could see the former president lose some of his famous properties and be barred from doing business in New York.

Meanwhile, multiple legal analysts took to social media after a prosecutor for James' office asked Trump about a financial statement to Deutsche Bank. They argued that the former president had admitted he intentionally tried to induce lending and thus admitted to fraud.

The prosecutor had shown Trump a term agreement made to Deutsche Bank for him to verify his signature before asking if the statement about the values of Trump Organization businesses and the properties were made "in order to induce lending."

Trump reportedly answered in the affirmative, according to Matt Russell Lee of Inner City Press in an X, formerly Twitter, post.

Katie Phang, a lawyer and MSNBC host, described why she felt the moment was important on X.

"In order to induce lending," she wrote. "A CRITICAL admission by Trump as he admits that the INTENT in making these financial representations was to convince lenders to loan money."

Newsweek reached out to a representative for Trump via email for comment.

Attorney and writer Amee Vanderpool also posted on X about the exchange during Trump's testimony, commenting: "Trump just admitted his intent to 'induce lending' - add this to the inaccurate numbers used and you have proven the basic legal elements of fraud."

Joyce Vance, an attorney and former federal prosecutor, called Trump's remarks "an astonishing admission" that could be used against him.

"Not only is this an astonishing admission, it will damage efforts to argue on appeal that the judge was wrong to grant judgement ahead of trial on the fraud claims," she wrote on X. "That is pretty much Trump's last gasp at saving his NY business."

Former federal prosecutor Andrew Weissmann also posted on X about the moment, using all capital letters in his message.

"BREAKING: AG GETS TRUMP TO AGREE THAT THE FINANCIAL STATEMENTS AND TRUMP'S PERSONAL GUARANTY WERE TO INDUCE BANKS TO LEND MONEY. KEY FACT FOR THIS FRAUD CASE," he wrote.

Meanwhile, Mary Trump, the former president's estranged niece, simply wrote: "Donald is f*****."