Defrauding lenders.

Banker says Trump declined to share financials in Bills' bid

The former president is facing allegations of defrauding lenders.

ByPeter CharalambousandAaron Katersky

After claiming a net worth of $8 billion, Donald Trump declined to share his financial statements with bankers related to his $1 billion bid to purchase the Buffalo Bills football team in 2014, according to documents presented at trial and testimony from Morgan Stanley executive K. Don Cornwell.

Of the 86 parties contacted to potentially bid on the Bills, Trump was one of six parties to make a final bid, according to a Morgan Stanley document shown at trial.

However, when Morgan Stanley attempted a close review of Trump's bid, Trump declined to provide his financial statements.

"We feel it is premature to sign the consent release forms until such time as we know that Mr. Trump is the final bidder," then-Trump attorney Michael Cohen said in a 2014 email shown at trial.

During a management presentation with Bills' leadership, Trump instead handed out a Forbes magazine list to support his bid, according to Cornwell.

"He gave us handouts of the Forbes list of the top-paid entertainers," Cornwell said.

Trump eventually lost his bid to purchase the football team to billionaire Terry Pegula, who outbid Trump by $400 million.

During cross-examination, Cornwell acknowledged that a lawsuit Trump previously brought against the NFL, as well as his affiliation with casinos, also limited the likelihood of his success.

"You thought that President Trump had little chance of being approved by the NFL?" defense attorney Ivan Feris asked.

"Yes," Cornwell replied.

Trump's lawyers have argued that his bid to purchase the Bills -- which has featured prominently in the testimony of other witnesses -- is irrelevant to the conduct alleged in the attorney general's lawsuit.

"It is the defense position that none of this relates to a cause of action in this case," Feris said.