Six banks including Deutsche Bank, JPMorgan Chase, and Morgan Stanley, have been providing Congressional committees thousands of documents related to an investigation into Trump's Russia ties, according to the Wall Street Journal.
The investigation is reportedly looking into whether there was potential foreign influence on Trump and his family.
In April, it was reported that the President, his children, the Trump Organization, and the Trump family trust filed a lawsuit against Deutsche Bank and Capital One to bar them from complying with congressional subpoenas.
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Deutsche Bank, JPMorgan Chase, Bank of America, Citigroup, Morgan Stanley, and Wells Fargo have been giving thousands of documents to congressional committees investigating whether Trump had links to Russia, according to The Wall Street Journal, which cited people familiar with congressional probes.
The Journal also said that some banks were giving documents related to the President's own business, the Trump Organization, to New York state investigators.
Investigators for the House Financial Services Committee and the House Intelligence Committee are reportedly working on a joint probe into whether there was potential foreign influence on Trump and his family.
The Journal said that more information will likely be handed over in coming weeks as the banks respond to subpoenas sent in April.
Trump has reportedly received around $2 billion in loans from Deutsche Bank over two decades. The Financial Times reported that the German Bank and Trump have had a complicated relationship, suing one another in 2008 over loans to build Trump International Hotel & Tower in downtown Chicago.
In April, it was reported that President Donald Trump, his children, the Trump Organization, and the Trump family trust filed a lawsuit against Deutsche Bank and Capital One to bar them from complying with congressional subpoenas.
Trump's lawsuit, according to The New York Times in April, claims the subpoenas "have no legitimate or lawful purpose" and were issued to "harass" him and "to rummage through every aspect of his personal finances, his businesses, and the private information of the President and his family, and to ferret about for any material that might be used to cause him political damage."
Since then Deutsche Bank, Trump's primary bank, according to the Journal, has turned over emails, loan agreements, and other documents related to the Trump Organization office of New York Attorney General Letitia James, in response to a civil subpoena sent earlier this year.
According to the Journal, the congressional and state investigations are looking for different types of information. The congressional probe, which is reportedly being contested in court, is looking at a wide range of financial documents from the Trump family.
The state investigation comparatively, is looking at loans to the Trump Organization, according to people familiar with the New York investigation, the Journal wrote.
CryptoNoobNinja on August 8th, 2019 at 15:54 UTC »
I think the craziest part is when Deutsche Bank loaned Trump money to pay back a loan from Deutsche Bank. This was after a multi-year legal battle because Trump didn’t want to pay.
link
Edit: Apparently this is commonly known as "refinancing". So just so I get this straight. Refinancing is a process where one:
Borrows a massive amount of money from a bank with a personal guarantee for a certain portion.
Take the bank to court for 2 years so you don't have to pay the bank back claiming the recession is an "act of god" and demand $3 million in damages claiming the bank lending money was predatory.
Approach the same bank for a new loan to repay the same bank including the amount I personally guaranteed.
Okay, got it.
Nelsaroni on August 8th, 2019 at 15:25 UTC »
Then goes on twitter to bitch about monetary policy and the Fed. Clockwork.
slakmehl on August 8th, 2019 at 14:53 UTC »
The relationship with Deutsche is by far the most interesting. Each of those loans, while absolutely bizarre, at least had a known purpose. We still don't know where Trump Org got the money to buy and renovate a series of golf courses from 2010 to 2014, the precise time period when his lender Deutsche Bank was engaging in $20 billion of Russian money-laundering, and the precise period a journalist reports Eric Trump contemporaneously bragged they were buying those courses with Russian money.
Mueller apparently considered Trump's finances out of his remit. He only answered the question of what happened in 2016. The why quite possibly resides in Trump Org financial records.