Deutsche Bank is turning over Information on Trump

 

It will be interesting to see where this actually goes.  I do suspect that they brokered deals for funds rather than actually putting up theirs.  Thus they could easily arrange money from less than wonderful sources and Trump would not need to know.  It could even be CIA money.  Private Russian sources tend to be pickier and more involved.  They also do not take a joke well, and Trump would be unlikely to ever use their money any more than he would use Mafia or Drug money.

The German banks also have a serious reputation for real secrecy whose consequences go back to laws put on the books by Hitler. At least that is what i have been told and suspect it holds plenty of truth.

I think in the end this will be a nothing burger, but it is in furtherance of a program of harassment that will produce serious blow back at the polls...

Again almost by definition his specific type of business means dealing with multiple banks as a matter of course.  And he was prepared to get tough with them as well because he could and often needed to.  That did not stop access to money.  Recall that he owns Trump Tower free and clear. He makes the banks work for him instead of the other way around.
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DEUTSCHE BANK IS TURNING OVER INFORMATION ON TRUMP

Regulators are scrutinizing hundreds of millions in loans and a subpoena from Robert Mueller is expected.

BY

BESS LEVIN

JULY 20, 2017 10:18 AM

http://www.vanityfair.com/news/2017/07/donald-trump-deutsche-bank-russia

Among the many mysteries surrounding Donald Trump’s finances as a real-estate mogul—and the conflicts of interest that might be revealed by his tax returns, were he ever to release them—is his long history of debt. The issue is not merely what Trump owes, but who he owes. As critics noted on the campaign trail, Trump’s habit of reneging on contracts and suing his lenders meant that virtually nobody on Wall Street wanted to work with him, with one exception: Deutsche Bank, which had loaned him hundreds of millions of dollars when no one else would, even after he sued the firm. Now, investigators probing the ties between the Trump campaign and Russia are wondering why—and they’re beginning to take a closer look at the president’s accounts with his favorite bank, which also happens to have strong ties to Russia itself.

The New York Times reports that banking regulators are currently “reviewing hundreds of millions of dollars in loans made to Mr. Trump’s businesses through Deutsche Bank’s private wealth management unit . . . to [see] if the loans might expose the bank to heightened risk.” Meanwhile, the Guardian reports that executives at Deutsche are “expecting that the bank will soon be receiving subpoenas or other requests for information from Robert Mueller,” and that the special counsel’s investigative team and the bank have “already established informal contact in connection to the federal investigation.”

There’s certainly plenty to look into. Over the last 20 years, Trump has received more than $4 billion in loan commitments and potential bond offerings from the German lender, despite suing the company in 2008 when he fell behind on payments on the $640 million loan he was given to build Trump International Hotel & Tower in Chicago. Incredibly, in order to avoid paying the $40 million he had personally guaranteed, Trump and his lawyer argued that “Deutsche Bank is one of the banks primarily responsible for the economic dysfunction we are currently facing”—i.e. the global financial crisis—and therefore it should pay him $3 billion in damages under the extraordinary event clause in his contract. Naturally, the bank countersued, calling the real-estate developer’s claim “classic Trump.” In the end, after threatening to take his name off the building if he wasn’t granted more time to pay, the bank gave Trump extra time; when he did pay the money he owed to the firm’s real-estate lending division, it was with another loan he got from Deutsche’s wealth-management unit. Trump subsequently moved his business from the real estate group to the private wealth management group, where, according to the Times, “executives were more willing to deal with him.” One of those executives was Rosemary Vrablic, who has helped finance three Trump properties over the last six years, lending $300 million in the process. That amount is “somewhat unusual by Wall Street standards,” former and current Deutsche Bank executives and wealth managers at other firms on Wall Street told the Times.

In addition to Donald, Ivanka Trump is also said to be a Deutsche Bank client, as is Jared Kushner and his mother, who, per the Times, have “an unsecured line of credit from Deutsche Bank, valued at up to $25 million.” In addition, the Kushner family business, Kushner Companies, got a $285 million loan from the bank last year. And because the Kushners and Trumps have never shied away from conflicts of interest, in 2013, Kushner reportedly “ordered up a glowing profile of [Vrablic] in the real estate magazine he owned,” with a disclosure about their connection at the very end of the piece.

Apart from the Trumps and Kushners, Deutsche Bank also has deep ties to Russia. In addition to settling allegations earlier this year that it allowed $10 billion to be laundered out of Eastern Europe, Deutsche Bank had a “cooperation agreement” with Vnesheconombank, a Russian state-owned development bank that is the target of U.S. economic sanctions. Vnesheconombank, for those who need a refresher, was the bank whose chief executive, Sergey Gorkov, Jared Kushner forgot to mention meeting in December. Oh, and there’s also this:

. . . in May, federal prosecutors settled a case with a Cyprus investment vehicle owned by a Russian businessman with close family connections to the Kremlin. The firm, Prevezon Holdings, was represented by Natalia Veselnitskaya, the Russian lawyer who was among the people who met during the presidential campaign with Donald Trump Jr. about Hillary Clinton. Federal prosecutors in the United States claimed Prevezon, which admitted no wrongdoing, laundered the proceeds of an alleged Russian tax fraud through real estate. Prevezon and its partner relied in part on $90 million in financing from a big European financial institution, court records show. It was Deutsche Bank.

In an interview with the Times published late Wednesday night, Trump, when asked if he thought Mueller’s investigation would “cross a red line” if it began to examine his “family’s finances beyond any relationship to Russia,” said “I would say yes. I think that’s a violation.”