Deutsche Bank begins turning over documents for New York's probe into Trump's business finances

by Kerry Eleveld

Community

Wednesday, Apr. 24, 2019 Wednesday, Apr. 24, 2019 at 5:02:36pm PDT

WASHINGTON, DC - OCTOBER 26: Republican presidential nominee Donald Trump (C) and his family (L-R) son Donald Trump Jr, son Eric Trummp, wife Melania Trump and daughters Tiffany Trump and Ivanka Trump cut the ribbon at the new Trump International Hotel October 26, 2016 in Washington, DC. The hotel, built inside the historic Old Post Office, has 263 luxry rooms, including the 6,300-square-foot 'Trump Townhouse' at $100,000 a night, with a five-night minimum. The Trump Organization was granted a 60-year lease to the historic building by the federal government before the billionaire New York real estate mogul announced his intent to run for president. (Photo by Chip Somodevilla/Getty Images) — Donald Trump and his family at the 2016 ribbon cutting for Trump International Hotel in Washington, D.C., a project being scrutinized by the New York attorney general.

Deutsche Bank has begun producing financial records subpoenaed last month by the New York attorney general related to an investigation into several Trump Organization projects, according to CNN. Attorney General Letitia James initiated a civil probe into financing related Donald Trump's family business following testimony from his former lawyer Michael Cohen that Trump manipulated the value of his assets when trying to obtain loans from various financial institutions. Deutsche Bank has the distinction of being one of the only financial institutions that has continued lending hundreds of millions of dollars to Trump, even after he was exposed as a serial defaulter.

Now the lender is actively turning over both emails and loan documents related to four Trump Organization projects, in particular: Trump International Hotel in Washington, DC; Trump National Doral Miami; Trump International Hotel and Tower in Chicago; and Trump's failed attempt to buy the NFL's Buffalo Bills franchise.

In addition to the New York AG inquiry, the House Intelligence and Financial Services committees are also scrutinizing the bank for its role in potential money laundering schemes related to Trump's businesses.