After defaulting on multiple loans and bond issues, Trump was considered a terrible credit risk and could not get loans for new projects in the late 1990s. Then up stepped Deutsche Bank, which financed Trump to the tune of $2 billion. Now Deutsche Bank is facing billions of dollars in fines for laundering Russian money. Congress wants to get documents from the bank to investigate the connections, for obvious reasons, and the Supreme Court will rule soon on whether they get access to them.
Deutsche Bank lent Trump millions after he defaulted on loans they already gave him and after he once sued them in 2008. Known derisively as a “global laundromat,” the bank is facing U.S. and British legal actions over its role in a $20 billion Russian money-laundering scheme. Two Congressional committees want the bank to release 10-plus years of records involving Trump and his three oldest children as Congress probes Russian money laundering and possible foreign influence involving Trump. White House lawyers have fought the committees tenaciously.It’s hoped that the Supreme Court’s verdict will end years-long efforts on the part of U.S. officials to glean the truth about Trump’s finances. Especially at issue is whether Russians interfered in the 2016 election and if that meddling was powered by Russian money funneled to Trump through the giant, scandal-ridden German bank.
This all went through a woman named Rosemary T. Vrablic, the managing director of private wealth lending for Deutsche Bank. Ivanka Trump put her in touch with her father and the money began to flow. Jared Kushner and his family had also had a long relationship with Vrablic and borrowed money through her. Deutsche Bank watchdogs flagged several transactions that were suspect and they were sent to federal regulators, but no action was taken. Hopefully the Supreme Court will allow House investigators to enforce their subpoenas and get the documents necessary to do a real investigation. It looks like the bank laundered a huge amount of Russian money and turned it into loans to Trump.