Life&Culture

No Deutsche Bank lens on Donald Trump's finances: White House

No Deutsche Bank lens on Donald Trump's finances: White House

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.

But after publication, Trump's lawyers said in a statement that the story was false.

The bank also lent up to $170 million for the Old Post Office, a Washington property he converted into a hotel, and up to $640 million for the Trump Intl Hotel and Tower, Chicago, according to the news agency.

Senior executives at the bank had previously refused similar requests from Democrat members of the House of Representatives. A string of bankruptcies at his hotel and casino businesses during the 1990s made most of Wall Street wary of extending him credit.

Mueller's investigation - which is looking into alleged Russian interference into last year's USA election and whether Trump's winning campaign assisted in those efforts - appears to be entering a new phase.

The corrections and clarifications come just days after ABC News suspended investigative reporter Brian Ross after he falsely reported that former Trump administration official Michael Flynn had said he was told to make contact with Russian government officials when Trump was still a candidate.

Sarah Huckabee Sanders, the White House press secretary, insisted the Bloomberg report was wrong at her Tuesday press briefing. "No subpoena has been issued or received. We have confirmed this with the bank and other sources", Trump lawyer John Dowd wrote in an email. A spokesman for Mueller declined to comment.

"But in a statement to NBC News it said: "[Our bank] takes its legal obligations seriously and remains committed to co-operating with authorised investigations into this matter".

According to media reports, Mr. Trump owed Deutsche Bank as much as $340 million (€286.5 million) at one point, though considerable restructuring appears to have brought down that amount.

Two flags, one subpoena. Representative Maxine Waters of California and other Democrats have asked whether the bank's loans to Trump, made years before he ran for president, were in any way connected to Russian Federation.

The bank reportedly settled with US regulators some time this year, CNN reported in November.

A source close to Deutsche Bank said the bank had run checks on Trump's financial dealings with Russian Federation.

Judge Napolitano added that if there is any involvement between the Trump family, President Trump, the Trump organization, the campaign and the Russians, especially if it's monetary, that could be "very risky for the president". Handelsblatt reported the subpoena earlier Tuesday.

President Donald Trump (L) shakes hands with James Comey, former director of the Federal Bureau of Investigation (FBI), during an Inaugural Law Enforcement Officers and First Responders Reception in the Blue Room of the White House on January 22, 2017 in Washington, DC.

In a July 9 interview with the New York Times, Trump said Mueller should not extend his investigation into Trump's finances if they were not directly related to the Russian Federation accusations. I think that's a violation. "I would say yes".

Mr Trump and Deutsche Bank have not always been on good terms.


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