Trump had been including an overly “optimistic” (TIC) valuation of his brand for years when he brags about his $10 Billion net worth. Valuation of any kind is more art than science...true value is obviously not determined until an asset is sold...but the problem for the prosecution is trying to make a case that DB, who are “experts” at valuation, were somehow duped or didn’t do their due diligence to determine their own view of fair value...or that trump lied to them about the underlying financials used to value the brand.

Either way, it’s a tough case to make, as valuation of illiquid assets and especially intangible assets is really just an educated SWAG.