Tish James subpoenas Deutsche Bank, opens investigation into Trump projects

Move comes after Michael Cohen testified that Trump inflated assets

National /
Mar.March 12, 2019 10:32 AM

From left: New York Attorney General Letitia James, President Donald Trump, and Deutsche Bank CEO Christian Sewing (Credit: Getty Images)

The fallout from Michael Cohen’s congressional hearing continues.

Two weeks after President Trump’s former “fixer” told lawmakers that his boss inflated the value of his assets to secure loans, the New York attorney general’s office issued subpoenas on Monday to two lenders, Deutsche Bank and Investors Bank, the New York Times reported.

Last week, the New York State Department of Financial Services issued a subpoena to insurance broker Aon, also on the basis of Cohen’s testimony.

The subpoena to Deutsche Bank seeks loan applications, mortgages, lines of credit and other transactions connected to Trump properties in Miami, Chicago, and Washington, D.C., as well his failed attempt to buy the Buffalo Bills in 2014, according to the Times.

The subpoena to New Jersey-based Investors Bank is for documents related to a project it had backed, Trump Park Avenue.

This new inquiry, a civil investigation whose scope and focus is as yet unclear, opens up a additional scrutiny of Deutsche Bank, one of the few large lenders willing to do business with Trump in recent years. The bank is already the subject of two congressional investigations, and previously claimed it could not legally hand over documents related to its loans.

Soon after she was elected in November, attorney general Letitia James promised to investigate Trump’s real estate dealings, as well government subsidies, Russian collusion and possible violations of the emoluments clause. “We will use every area of the law to investigate President Trump and his business transactions and that of his family as well,” James told NBC in December. [NYT] — Kevin Sun


Related Articles

arrow_forward_ios
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Make Greenland Great Again? Trump wants to buy Arctic territory
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Hamptons’ priciest summer rental to host MAGA extravaganza next month
Donald Trump with the Trump National Golf Club Westchester (Trump National Westchester, Getty)
Trump Organization facing criminal probe over Westchester golf course
Trump Organization facing criminal probe over Westchester golf course
Department of City Planning's Anita Laremont (iStock)
City Planning votes to restrict hotel development
City Planning votes to restrict hotel development
Mayor Bill de Blasio (Getty, iStock)
Mystery group sues to stop de Blasio from restricting hotel development
Mystery group sues to stop de Blasio from restricting hotel development
From left: Marisa Lago, Anita Laremont and Mayor Bill de Blasio (LinkedIn, Getty, Wikimedia)
Politics, City Planning on collision course
Politics, City Planning on collision course
HRI founder Aaron Carr and Virginia Attorney General Mark Herring (Facebook, Getty)
Housing Rights probe pins voucher discrimination on VA landlords, brokers
Housing Rights probe pins voucher discrimination on VA landlords, brokers
Senator Chuck Schumer and 70 Prospect Park West (Google Maps, Getty)
Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
Schumer blasts Brooklyn landlord as NY pols vow to pass good cause eviction
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...