Manhattan DA questions Deutsche Bank over Trump

Bank has been Trump’s primary lender since 1990s

New York /
Dec.December 11, 2020 09:37 AM
President Donald Trump, Deutsche Bank CEO of Americas Christiana Riley and Manhattan District Attorney Cy Vance (Getty)

President Donald Trump, Deutsche Bank CEO of Americas Christiana Riley and Manhattan District Attorney Cy Vance (Getty)

A New York investigation into President Donald Trump’s business has trained its sights on Deutsche Bank.

When Manhattan District Attorney Cy Vance launched the investigation into Trump’s finances, the focus was hush money paid out to women. Now the spotlight is on Deutsche Bank, the president’s longtime lender, and his insurance brokerage, Aon, the New York Times reported, citing sources with knowledge of the probe.

Investigators questioned two Deutsche Bank employees on the bank’s underwriting process, although the employees were not involved with the Trump Organization specifically. The Manhattan district attorney’s office first subpoenaed Deutsche Bank last year as part of a criminal investigation into Trump’s business practices.

Deutsche Bank signaled before the election that it was considering cutting ties with Trump because of the ongoing investigations. One senior executive called those probes into Trump’s business “serious collateral damage” for the bank, according to Reuters.

The bank has been Trump’s primary lender since the 1990s, and holds $340 million in outstanding loans from the president. The loans are personally guaranteed by Trump.

It’s unclear if the investigation will result in charges, but Trump has said that he has the “absolute right” to pardon himself should he face federal charges relating to his business practices. However, a federal pardon would not protect Trump from state or local-level criminal charges.

[NYT] — Georgia Kromrei


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
Attorney General Letitia James and Mayor Bill de Blasio (Getty)
Tish James, Council ask mayor to delay lien sale that he just OK’d
Tish James, Council ask mayor to delay lien sale that he just OK’d
Paul Manafort sells deteriorating Bridgehampton estate above $10M ask
Paul Manafort sells deteriorating Bridgehampton estate above $10M ask
Paul Manafort sells deteriorating Bridgehampton estate above $10M ask
Hochul weighing expansion of Community Reinvestment Act
Hochul weighing expansion of Community Reinvestment Act
Hochul weighing expansion of Community Reinvestment Act
CHIP Executive Director Jay Martin, RSA President Joseph Strasburg and Gov. Kathy Hochul (Getty, Strasburg via Jeffersons Siegel)
Landlords smell “good cause” in Hochul’s new tenant protections
Landlords smell “good cause” in Hochul’s new tenant protections
Gotham Organization Chairman Joel Picket with the proposed development at 130 Felix Street (Grid Properties, Rendering via FXCollaborative)
Gotham Org’s Fort Greene project overcomes local opposition
Gotham Org’s Fort Greene project overcomes local opposition
BRP’s controversial Bed-Stuy project wins approval
BRP’s controversial Bed-Stuy project wins approval
BRP’s controversial Bed-Stuy project wins approval
arrow_forward_ios

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

Loading...