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2-min read

Deutsche Bank Handing Over Donald Trump 's Loan Documents: Report

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 Organisation.

PTI

Updated:April 25, 2019, 8:37 AM IST
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Deutsche Bank Handing Over Donald Trump 's Loan Documents: Report
File photo of US President Donald Trump (Image: AP)
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New York: 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 said.

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 Organisation.

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

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

"We remain committed to cooperating with authorized investigations," a bank spokesman said, 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.

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 USD 300 million.

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

When opposition Democrats took control of the House of Representatives in January, they sought information on interest rates granted to the Trump Organisation, as well as details on a huge Russian money laundering case that earned Deutsche Bank a USD 630 million fine in January 2017.
(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
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