When the investigation by Special Counsel Robert Mueller was first announced, Donald Trump said two things. Publicly, he said that Mueller delving into Trump’s financial history was a “red line” regarding his privacy. Privately, he said, “Oh my God. This is terrible. This is the end of my presidency. I’m f*cked.”
Exclusive: Anti-money-laundering specialists at @DeutscheBank detected what looked like suspicious activity in @realDonaldTrump and Kushner accounts in 2016 and 2017. They recommended alerting the government. Bank managers said no. https://t.co/d9x8zDxfBk
— David Enrich (@davidenrich) May 19, 2019
Reports about Trump’s shady financial deals, as well as those of his son-in-law, have been coming for some time. On Saturday, the most damning one of all was released. Both Trump’s and Kushner’s accounts at Deutsche Bank raised alarms among watchdogs, who warned the bank. The money Trump and Kushner had flowing through the institution, however, was enough to keep the bank happy and ignoring the signs of criminal activity.
The New York Times reports that:
‘Anti-money laundering specialists at Deutsche Bank recommended in 2016 and 2017 that multiple transactions involving legal entities controlled by Donald J. Trump and his son-in-law Jared Kushner, be reported to a federal financial crimes watchdog.’
NEW: Deutsche Bank reportedly ignored potential illicit activity in Trump, Kushner accounts https://t.co/lZDJOHW98T
— The Daily Beast (@thedailybeast) May 19, 2019
One of the accounts that were flagged was related to the Trump Foundation, which is now defunct after New York Attorney General Letitia James investigated and determined that it wasn’t a charity at all, but being used as a “checkbook” for the Trump family. The watchdogs attempted to warn the bank about some of the more suspicious transactions.
‘The transactions, some of which involved Mr. Trump’s now-defunct foundation, set off alerts in a computer system designed to detect illicit activity, according to five curent and former bank employees. Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that policies financial crimes.’
Something else that Congress needs to investigate thoroughly!https://t.co/8K8w1MLJqR
— Ed Krassenstein (@EdKrassen) May 19, 2019
Trump carried a significant amount of debts in the United States to keep banks here at home from lending him money or doing business with him at all. Perhaps some of his shadier activities were also a factor in the decision of American banks to distance themselves from the Trumps that forced him to go overseas and choose a bank long suspected of being a hub for Russian money laundering.
‘Former Deutsche Bank employees said the decision not to report the Trump and Kushner transactions reflected the bank’s generally lax approach to money laundering laws. The employees – most of whom spoke on the condition of anonymity to preserve their ability to work in the industry – said it was part of a pattern of the bank’s executive rejecting valid reports to protect relationships with lucrative clients.’
Deutsche Bank employees charged with spotting illicit activity repeatedly encountered potentially suspicious transactions by companies controlled by President Trump and his family members. But bank managers dismissed the concerns as unwarranted. https://t.co/nmUvX63t5w
— The New York Times (@nytimes) May 19, 2019