- The New York attorney general issued subpoenas for Deutsche Bank records relating to funding for several Trump Organisation projects, according to The New York Times.
- Investigators want information on loans and lines of credit extended to several Trump Organisation hotels, a report said. They are also said to be looking at New Jersey-based Investors Bank.
- The subpoenas also relate to Trump’s unsuccessful attempt to buy the Buffalo Bills NFL team in 2014.
- House Democrats are also probing Trump’s ties with Deutsche Bank, one of the few institutions to lend to Trump after a series of bankruptcies in the 1990s.
- The subpoenas stem from Michael Cohen’s bombshell testimony to Congress, where he accused his former boss of inflating financial records to Deutsche Bank.
New York’s Attorney General has subpoenaed records from Deutsche Bank, seeking information on the funding for several Trump Organisation hotels and the failed buyout of the Buffalo Bills,The New York Times reported on Monday.
Citing an unnamed source briefed on the subpoenas, the Times reported that they were issued late Monday as part of a civil investigation by the office of New York Attorney General Letitia James.
As well as Deutsche Bank, the probe also sought records from New Jersey-based Investors Bank, the report said.
The Deutsche Bank subpoenas are said to relate to loan applications, mortgages, and other lines of credit extended to:
- Trump International Hotel in Washington
- Trump National Doral outside Miami
- Trump International Hotel and Tower in Chicago
- Trump’s ultimately unsuccessful bid to buy the Buffalo Bills in 2014.
They sought information on Investors bank backing for Trump Park Avenue, according to the report.
According to an unnamed investigative source, the probe was prompted by Michael Cohen’s bombshell testimony to Congress two weeks ago.
During the testimony, Cohen alleged that President Donald Trump had inflated his financial assets in statements to Deutsche Bank. He provided copies of records to lawmakers during the hearing which he says substantiate his claims.
Deutsche Bank declined to comment on the report. The New York attorney general’s office also declined to comment.
Investors Bank and the Trump Organisation did not immediately return a request for comment from Business Insider.
Deutsche Bank was one of the few institutions to keep lending to Trump after a series of bankruptcies at his casino and hotel empire in the 1990s. The bank lent him $US100 million for a series of real estate projects in 2012.
Separately, the bank’s loans to Trump are currently being probed by the Democrat-controlled House IntelligenceCommittee and Financial Services Committee.
Under a deal with the New York Attorney General’s office, Trump’s charity, the Donald J. Trump Foundation, in December agreed to dissolve.
The decision followed a lawsuit in which investigators alleged that he used the institution to advance his 2016 presidential campaign and businesses.
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