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Tuesday, December 5, 2017

Follow the Money: Mueller's Trump-Russia investigation subpoena Deutsche Bank

  

Trump-Russia probe: Mueller 'demands Deutsche Bank data'


Follow the Money

Mueller's Trump-Russia investigation engulfs Deutsche Bank

Deutsche Bank has received a subpoena from the US special counsel investigating possible collusion between President Donald Trump’s campaign and Russia. It's actually welcome news for the bank.

By
  • Handelsblatt Staff
Published on

Deutsche Bank posts $2 billion loss
Two flags, one subpoena. Deutsche Bank may be glad it's being forced to hand over information. Source: picture alliance
Deutsche Bank has been served. US investigators are demanding that it provide information on dealings linked to the Trumps, sources familiar with the matter told Handelsblatt. The subpoena is part of a probe by special counsel Robert Mueller and his team to determine whether the president’s campaign was involved in Russian efforts to influence the US election.

Donald Trump and his family have long-standing ties to Germany’s largest bank. The former real-estate baron has done billions of dollars’ worth of business with Deutsche Bank over the past two decades, and First Lady Melania, daughter Ivanka and son-in-law Jared Kushner are also clients.

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. The president’s financial disclosure of June 16 reported $130 million in debt, a figure the bank has not publicly confirmed.
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