Deutsche Bank refuses to release info on Trump loans amid DOJ probe

Democrats allege conflict of interest

Miami /
Jun.June 09, 2017 12:00 PM

From TRD New York: Deutsche Bank refused to hand over information on its business dealings with President Trump following a request from Democratic members of Congress.

“Deutsche Bank, like other financial institutions, is not permitted to disclose details related to its customers,” the bank’s lawyers wrote in a letter published Friday. “This is true even if the individual is a government official or well-known person, and even in circumstances where the individual has made some disclosure regarding their relationship with their banking institution.”

The Department of Justice is currently investigating the German lender for allegedly helping Russian oligarchs launder money. At the same time the bank has been a key lender to Donald Trump’s real estate business, issuing around $300 million in loans on his hotels and golf courses over the past couple of years. Democratic lawmakers argued that his poses a conflict of interest.

“President Trump’s conflict of interest with Deutsche Bank…may undermine the independence and impartiality of the Department’s ongoing investigation and diminish the likelihood that Deutsche Bank and its senior leadership will be brought to justice,” the lawmakers wrote in March.

As the minority party in Congress, Democrats can’t force the bank to reveal information.

Donald Trump personally guaranteed his Deutsche Bank loans, and in late March Bloomberg reported that talks to remove that guarantee had yet to reach a conclusion. [Bloomberg] — Konrad Putzier

(To view more of Deutsche Bank’s financing transactions, click here)


Related Articles

arrow_forward_ios
Donald Trump, Eric Trump and Donald Trump Jr with 1125 South Ocean Boulevard (Premier Estate Properties, Getty)
Trump’s Palm Beach estate listed for rent asking $208K a month
Trump’s Palm Beach estate listed for rent asking $208K a month
A photo illustration of prominent guests at the Witkoff wedding (via Instagram)
Nuptials Mar-a-Lago style: Donald Trump, Don Peebles, Barry Sternlicht among real estate elite at Witkoff wedding
Nuptials Mar-a-Lago style: Donald Trump, Don Peebles, Barry Sternlicht among real estate elite at Witkoff wedding
Donald Trump and Grant Cardone (Cardone Enterprises)
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
Presidential surprise: Donald Trump kicks-off Grant Cardone’s 10X Growth Conference
Renderings of the Mainstreet at Boynton Beach mixed-use project with Pebb Enterprises’ President and CEO Ian Weiner (Pebb Enterprises)
Pebb, Banyan sell outparcel at Sprouts-anchored Boynton Beach project
Pebb, Banyan sell outparcel at Sprouts-anchored Boynton Beach project
Donald Trump and The Mar-a-Lago Club in Palm Beach (Getty Images, LoopNet, iStock/Illustration by Steven Dilakian for The Real Deal)
Trump’s toilet triumph: Guests of the former No. 1 will have more places to go No. 2
Trump’s toilet triumph: Guests of the former No. 1 will have more places to go No. 2
220 Alhambra Circle in Coral Gables, FL. and Fortress Investment Group’s Wesley Edens and Pete Briger Jr. (Google Maps, Getty, Long Arc)
Fortress buys Amerant’s Coral Gables HQ building for $135M in sale-leaseback deal
Fortress buys Amerant’s Coral Gables HQ building for $135M in sale-leaseback deal
Eric and Lara Trump with 502 Bald Eagle Drive in Jupiter (Getty, Google Maps)
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Trump town: Eric and Lara buy home near Don Jr. in Jupiter
Fontainebleau Miami Beach, Jeffrey Soffer and former President Donald Trump (Ebyabe/Wikipedia, Getty, iStock)
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
Gambling portability a no-go in Florida this year for Jeffrey Soffer, Trump
arrow_forward_ios

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

Loading...