Trump’s lender Deutsche Bank hands over documents to prosecutors, report says
U.S. President Donald Trump arrives to address the press in the Brady Briefing Room of the White House in Washington, DC on August 4, 2020.
Brendan Smialowski | AFP | Getty Images
New York prosecutors have assigned President Donald Trump’s financial records to his longtime lender Deutsche Bank as part of a criminal investigation, according to a report.
Last year, the Manhattan district attorney’s office issued a subpoena for the cases, The New York Times reported on Wednesday, citing four people familiar with the investigation. The move suggests that the investigation into Trump’s business practices is broader than previously known, the Times said.
Deutsche Bank complied with the subpoena, providing DA Cyrus Vance Jr.’s office with financial statements and other documents that Trump and the Trump Organization had given to the bank when he sought loans, told the Times two people close to the investigation.
Deutsche Bank declined CNBC’s request for comment. The prosecutor’s office did not immediately respond to a request for comment.
Vance himself revealed as recently as this week that his office may be investigating Trump and the Trump Organization for possible insurance and banking fraud.
Vance’s office is also seeking Trump’s financial records from accounting firm Mazars USA as part of an investigation into how the Trump Organization explained a secret payment to porn star Stormy Daniels, who says he had sex with Trump years ago. Trump has denied having sex with Daniels.
At the end of last month, Trump’s attorneys filed a new request to prevent the Manhattan DA from obtaining its tax records. The lawsuit came after the United States Supreme Court ruled that Trump as president did not enjoy unqualified immunity, as his lawyers argued, against a state prosecutor seeking his cases in as part of a criminal investigation.
In a court document filed on Monday in the case, Vance told a federal judge his office was pursuing financial records for up to a decade to see if they contained evidence of other “potentially inappropriate financial transactions by a variety of individuals and entities over a period of years. “
“At the time Mazars’ subpoena was issued, there were public allegations of possible criminal activity at the applicant’s New York County-based Trump organization dating back more than a decade,” wrote the prosecutor’s office.
Trump, unlike every other US president since the 1970s, has refused to go public with his tax returns.
Read the full New York Times report.
– CNBC Dan Mangan contributed to this report.