Responding to a subpoena from New York state’s attorney general, Deutsche Bank has begun the process of handing over financial records related to President Trump’s businesses, according to a report from CNN. The documents in question are related to loans made to the Trump Organization for various projects.
New York’s AG subpoenaed Deutsche Bank in March for records related to Trump’s failed NFL bid other projects taken on by the Trump organization. CNN’s source for the story is an unnamed person who is reportedly close to the matter.
The subpoena comes in the wake of testimony to Congress from former Trump fixer Michael Cohen, who said that Trump inflated and deflated the value of his assets to suit his financial interests.
“It was my experience that Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed amongst the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes,” Cohen said in February.
The bank is already the subject of a joint investigation between the House Financial Services and Intelligence committees into Trump’s businesses and money laundering.
Deutsche Bank has been one of the few big banks willing to lend to the Trump Organization in recent years.
In order to finance Trump Organization projects, Deutsche Bank has loaned Trump over $300 million between 2012 and 2015.
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