Lender says he relied on Trump's inflated financial statements when he agreed $160M loan

An executive with a lender who did deals with the Trump Organization – who also happens to be the son of the company's longtime chief financial officer – testified Thursday that he relied on Donald Trump's financial statements when clearing loands for the company.

Jack Weisselberg, an executive with Ladder Capital, testified Thursday that he partially relied on the financial statements when he worked on a $160 million loan for the Trump Organization, where his father Allen Weisselberg oversaw the company's money, reported ABC News.

"The liquidity was really what we were paying attention to," he testified.

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Trump claimed $302 million in cash and marketable assets in his 2014 statement of financial condition and, while Weisselberg agreed that he partially relied on that information, he declined to say whether he fully relied on the statement – which New York Attorney General Letitia James says had been fraudulently inflated.

Judge Arthur Engoron has already found Trump and his associates liable for fraud, ruling that the reported value of his company was vastly inflated. The ongoing trial is largely to determine the consequences of that ruling.

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"The net worth was one of many statements we were looking at in the underwriting process," Weisselberg testified. "It was a factor."

Weisselberg stepped down from the witness stand after he testified, but could be called back later in the case by defense attorneys.