Ex-Employee: Deutsche Bank Ignored Trump, Kushner Suspicion

Deutsche Bank Flagged Suspicious Activity With Trump, Kushner

Multiple transactions involving legal entities controlled by President Trump and his son-in-law Jared Kushner aroused the suspicion of anti-money laundering specialists at Deutsche Bank in 2016 and 2017, according to the New York Times.

"At no time was an investigator prevented from escalating activity identified as potentially suspicious", the bank said in a statement.

President Donald Trump pushed back hard on a damning weekend New York Times report that claimed that officials at Deutsche Bank had alerted executives about what they called suspicious activities consistent with money-laundering associated with Trump and Jared Kushner banking accounts.

Compliance staff members who reviewed the transactions prepared suspicious activity reports they believed should be sent to a unit of the United States treasury that polices financial crimes, according to the newspaper. He then claimed that the reason he didn't use many banks was not that they wouldn't do business with him (which has been widely reported) but that he "didn't need money".

The report also said the red flags do not indicate that the transactions were improper.

Certain dealings in 2016 and 2017, including some with entities and individuals outside the USA, set off automated alerts in the bank's systems, prompting employees to prepare "suspicious activity reports" on some of them.

"The Failing New York Times (it will pass away when I leave office in 6 years), and others of the Fake News Media, keep writing phony stories about how I didn't use many banks because they didn't want to do business with me".

The president went on to say that when you don't need money "you don't need or want banks". Former anti-money laundering specialist Tammy McFadden told the Times she looked over the transactions, discovered money had been moved from Kushner Companies to Russian individuals, and determined these transactions should be reported.

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"Now the new big story is that Trump made a lot of money and buys everything for cash, he doesn't need banks".

"Where did he get all of that cash?"

They said there was a pattern of bank executives rejecting reports to protect relationships with lucrative clients, according to the newspaper.

She also said Deutsche Bank has intensified efforts to combat financial crime.

Congressional and NY state authorities are investigating the relationship between Trump, his family and Deutsche Bank, and demanding documents related to any suspicious activity. "In fact, we have no operating accounts with Deutsche Bank", she said.

Zabarsky added that "any allegations regarding Deutsche Bank's relationship with Kushner Companies which involved money laundering is completely made up and totally false".

Two House committees have subpoenaed Deutsche Bank and several other financial institutions as part of their investigations into Trump's finances.

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