One of the many reasons Americans were suspicious of Donald Trump to begin with was because of his various business conflicts and shady finances, which have obviously become a major problem in his presidency.
While Trump’s Russia scandal is erupting, he’s also being kept busy defending his several conflicts of interest, struggling to continue hiding his tax returns because they’ll reveal not only a long history of debt, but a trail of shady business deals. Trump doesn’t want America to know how much money he owes, or who he owes the money to.
Notably, Deutsche Bank was one of the only lenders who wanted to work with Trump despite his horrible reputation for suing lenders and going back on his contracts. This bank, which has ties to Russia, loaned Trump hundreds of millions of dollars and thanks to Trump’s Russia investigation, investigators are going to find out why.
According to the New York Times, banking regulators are “reviewing hundreds of millions of dollars in loans made to Mr. Trump’s businesses through Deutsche Bank’s private wealth management unit . . . to [see] if the loans might expose the bank to heightened risk.”
Trump’s relationship with Deutsche Bank has been problematic for decades, and it’s now going to bite him in the a**. Deutsche has given Trump over $4 billion over the last 20 years, and in return Trump sued the bank in 2008 when he fell behind on his payments on a $640 million load. To avoid paying the bank, Trump blamed it for the global crisis and said the bank should be paying HIM instead, leveraging the extraordinary event clause in his contract. Trump said:
“Deutsche Bank is one of the banks primarily responsible for the economic dysfunction we are currently facing.”
In response, Deutsche countersued for this “classic Trump” move. Trump was only able to pay the bank back because he got ANOTHER loan from Deutsche’s wealth-management unit.
This won’t come as any shock to Americans, but Trump’s shady family is also involved in this. Not only is Ivanka Trump a Deutsche Bank client, but so is her husband Jared Kushner, who is also up to his neck in the Russian scandal. Kushner got himself into the Russian mess by hiding his meeting with Sergey Gorkov, who happens to be the chief executive of Russian state-owned development bank Vnesheconombank, a bank that Deutsche Bank has a “cooperation agreement” with.
Deutsche Bank is far from innocent, and that’s exactly why it’s being investigated right along with Trump. Check this out:
. . . in May, federal prosecutors settled a case with a Cyprus investment vehicle owned by a Russian businessman with close family connections to the Kremlin. The firm, Prevezon Holdings, was represented by Natalia Veselnitskaya, the Russian lawyer who was among the people who met during the presidential campaign with Donald Trump Jr. about Hillary Clinton. Federal prosecutors in the United States claimed Prevezon, which admitted no wrongdoing, laundered the proceeds of an alleged Russian tax fraud through real estate. Prevezon and its partner relied in part on $90 million in financing from a big European financial institution, court records show. It was Deutsche Bank.
Trump does NOT want anyone investigating his financial ties, and he made this clear in his interview with the Times on Wednesday night. Trump clearly stated that he did not want anyone to examine his “family’s finances beyond any relationship to Russia. I think that’s a violation.” Thanks to his shady dealing with Deutsche Bank, Trump’s nightmare is coming true.
Featured image via Mark Wilson / Getty Images