Free Talk Live

There's no doubt ... Brian Mulligan -- an international banking honcho -- was beaten to a pulp by the LAPD -- based on photos obtained by TMZ.

Mulligan -- the Managing Director and Vice Chairman of Media for Deutsche Bank -- is unrecognizable in the pics -- with severe nasal fractures and lacerations, a concussion, a fractured right scapula, and numerous contusions and abrasions.

Although the LAPD claims officers beat and arrested Mulligan after he became violent and threatening ... prosecutors declined to file charges. Our sources say prosecutors believe the photos are "clear evidence of excessive force." Indeed, Mulligan already filed a $50 million claim against the City of L.A.