Mueller subpoenas Deutsche Bank over loans to Trump

08 December, 2017, 01:32 | Author: Warren Cooper
  • Deutsche Bank turns over Trump documents after Mueller subpoena: Report

Special counsel Robert Mueller has issued a subpoena to Germany's largest bank, in a possible sign the investigation into Russian election interference may be expanding toward the finances of President Donald Trump or other individuals under scrutiny by the special counsel.

President Trump owes Deutsche Bank over $300 million for real estate deals made prior to becoming president, and now Robert Mueller wants to take a closer look at Trump's accounts with the worldwide megabank.

"Special prosecutor Robert Mueller zeroed in on President Donald Trump's business dealings with Deutsche Bank as his investigation into alleged Russian meddling in USA elections widens", read the lede. Last week Michael Flynn, Trump's former national security adviser, pleaded guilty to a single count of making false statements to the Federal Bureau of Investigation.

However, White House spokeswoman Sarah Sanders rejected reports of a subpoena for Mr Trump-related financial records as "completely false", as did Mr Trump's personal attorney Jay Sekulow. Specific requests of the bank were not immediately clear, but the United States media previously reported that Deutsche Bank lent the Trump Organization more than US$300 million for real estate transactions before Trump became president. This was the middle of the financial crisis, a fact Trump tried to leverage in court, arguing he should not have to repay money he owed Deutsche Bank because it was "one of the banks primarily responsible for the economic dysfunction we are now facing".

Regulators were analyzing whether the Trump Organization exposed the bank to risk due to bankruptcies in casino and hotel businesses, CBS reported.

Trump's biggest lender, followed the orders of a subpoena to turn over all documents relating to ties with the Trump family, according to the report.

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"An earlier subheadline said a subpoena from special counsel Robert Mueller's office requested data and documents about President Trump's accounts", a correction reads.

But by Wednesday afternoon, Bloomberg Politics corrected its story to note that the subpoena related to people "affiliated" with Trump.

Deutsche Bank had been one of Trump's most reliable lenders.

As Mueller's investigation unfolds, Trump has gone on the offensive. The bank sued to force Trump to pay a portion of the debt: $40 million plus legal fees and interest.

Trump told the New York Times this past summer he would consider it a "violation" if Mueller were to expand the probe beyond Russian Federation. Trump campaign chairman Paul Monafort, his deputy Rick Gates and campaign foreign policy adviser George Papadopoulos have also been charged. In fact, Trump went on, because of the bank's role in creating this "once-in-a-century credit tsunami", Deutsche Bank owed him money, to the tune of $3 billion in damages.

A spokesman for Manafort declined to comment.



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