No Deutsche Bank lens on Donald Trump's finances: White House

Jay Jacobs
December 8, 2017

"Mueller issued a subpoena to Germany's largest lender several weeks ago, forcing the bank to submit documents on its relationship with Trump and his family, according to a person briefed on the matter, who asked not to be identified because the action has not been announced", Bloomberg reported Tuesday.

The special counsel is investigating whether the Trump campaign colluded with Russians connected with the Kremlin in the lead-up to the 2016 election.

Mueller, of course, is looking for a Russian Federation connection with this subpoena, but Trump and his lawyers are unlikely to be sympathetic to that interpretation, and will likely cast it as an unreasonable intrusion into the president's personal life - part of the "witch hunt" the president keeps decrying.

"We have confirmed that the news reports that the Special Counsel had subpoenaed financial records relating to the president are false", he told Reuters in a statement.

Deutsche Bank has always been reported to have loaned the Trump Organization money. United States investigators are demanding that it provide information on dealings linked to the Trumps, sources familiar with the matter told Handelsblatt.

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During a photo opportunity with senators at the White House on Tuesday, Trump declined to answer shouted questions from reporters about whether Mueller had crossed a line by asking Deutsche Bank for information.

The Wall Street Journal likewise initially reported, "Trump's Deutsche Bank Records Subpoenaed by Mueller", before updating its headline to, "Mueller Subpoenas Deutsche Bank Records Related to Trump". Others, as you'll see, said that Judicial Watch's Chief Counsel Jay Sekulow was the Trump lawyer who denied this subpoena claims.

Most interesting of all, though, is what Harding goes on to detail: Around the same time Deutsche Bank's private wealth division was granting these extraordinary loans to Trump, business in the the bank's new Moscow branch was booming, thanks to the fact that it owned basically all of the business of Vneshtorgbank, or VTB - the Kremlin bank. The former real-estate baron has done billions of dollars' worth of business with Deutsche Bank over the past two decades, and First Lady Melania, daughter Ivanka and son-in-law Jared Kushner are also clients. "And a $170 million loan to finish his hotel in Washington in the old post office tower". In an interview this July, Trump told The New York Times that examination of his or his family's finances by Mueller would cross a red line. The bank sued to force Trump to pay a portion of the debt: $40 million plus legal fees and interest. Trump campaign chairman Paul Monafort, his deputy Rick Gates and campaign foreign policy adviser George Papadopoulos have also been charged.

Deutsche Bank countersued and the two sides eventually settled.

A spokesman for Manafort declined to comment.

Other reports by TheDailyFarc

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