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A life-ruining amount of daily interest for a normal person is even a blip for a fake, likely broke billionaire.
He's not broke, but he's also not as wealthy as he claims. The wealth he does have is all tied up in real estate assets, which again aren't worth as much as he likes to claim. That's what this whole case was about.
I'm still confused on this one. So he claimed his real estate was worth more than it actually was to try to get better loan terms, the bank never bothered to look at the property at all (normally they have someone assess assets like that or other things that don't have a clear fixed value), they gave him the loan, he repaid it and both he and the bank were both happy with the result? Who was defrauded, then?
The crime was against the state of New York who has an interest in people believing New York has a free and fair financial market and that fraud is not tolerated.
The bank WAS also harmed. They were taking a bigger risk than they were being paid for. They would have asked for MORE interest if he'd been honest.