Friday, October 30, 2020

Deutsche Bank handing over Trump loan documents: source

-

Deutsche Bank has begun to provide documents on financing for some of President Donald Trump’s projects to New York State authorities, a source familiar with the matter told AFP on Wednesday.

In mid-March, New York Attorney General Letitia James subpoenaed the German bank, demanding records related to loans and lines of credit granted to the Trump Organization.

The money was intended to finance projects such as Trump hotels in Washington, DC, Miami and Chicago, another source told AFP last month on the condition of anonymity.

It was unclear whether Deutsche Bank had provided all the documents requested.

- Advertisement -

“We remain committed to cooperating with authorized investigations,” a bank spokesman told AFP, while declining to comment on a CNN report that the company was handing over the documents.

James’ office also declined to comment on the status of the documents regarding financing for the Trump Organization, the holding company that has been run by Trump’s sons Eric and Donald Trump Jr since he entered the White House.

New York authorities also wanted records related to the Trump Organization’s failed attempt in 2014 to buy the Buffalo Bills football team, the source said on condition of anonymity.

James demanded the information from Deutsche Bank after Trump’s former personal attorney Michael Cohen testified before Congress, saying among other things that Trump wildly inflated his net worth in order to secure loans from Deutsche Bank.

- Advertisement -

Deutsche Bank was one of the few major banks to continue to lend to Trump following the bankruptcies of his casinos and other businesses in the 1990s. The German bank in recent years has loaned Trump more than $300 million.

That put the bank at the center of investigations and congressional scrutiny.

MUST READ

Actress Lori Loughlin begins 2-month prison sentence for role in college admissions scam

Actress Lori Loughlin reported to a federal prison in Northern California on Friday to start a two-month sentence for her role in a massive...

FirstEnergy fires CEO, other executives over Ohio bribery scandal

FirstEnergy Corp. has fired its CEO amid multiple federal investigations related to an Ohio nuclear bailout law passed year. The Akron-based utility company announced in a...

Ukraine’s court strips critical power from anti-corruption agency

Ukraine's Constitutional Court has stripped the country’s anti-corruption agency of some of its critical powers. The high court’s ruling published on October 28 declared it...

Former South Korean President Lee Myung-bak sent back to prison for 17 years in corruption case

Former South Korean president Lee Myung-bak was ordered back to prison on Thursday (Oct 29) as the country's Supreme Court upheld a 17-year jail...

Nigerian court declines to issue international arrest warrant for fugitive ex-Petroleum Minister in corruption case

The Abuja Division of the Federal High Court, on Wednesday, refused an application by the Economic and Financial Crimes Commission, EFCC, for an arrest...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World

Advertisement
Advertisement

Latest News

This Week

Bribery trial of former San Angelo police chief Tim Vasquez delayed until 2021

The trial of former San Angelo police chief Tim Vasquez will not happen until 2021, according to court documents. The trial, originally set for...

Mid-Small financial institutions to benefit from Oracle’s Anti-money laundering protection

Oracle today announced new cloud services to help mid-sized banks combat money laundering and outsmart financial crime. Oracle Financial Crime and Compliance Management Cloud Service brings...

Dutch prosecutors seize $33m in bitcoin from couple convicted of money laundering

Prosecutors from the Netherlands have seized 2,532 bitcoins worth $33 million after a couple was convicted of money laundering by the Rotterdam District Court....

Actress Lori Loughlin begins 2-month prison sentence for role in college admissions scam

Actress Lori Loughlin reported to a federal prison in Northern California on Friday to start a two-month sentence for her role in a massive...
Advertisement

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks