Deutsche Bank

DEUTSCHE BANK

Congress asks Deutsche Bank for Trump records  May 24, 2017

“Trump and his family have accounts there, and the bank’s “2011 Russian mirror scandal, which the bank has already agreed to pay $628 million in fines after regulators determined the bank helped to covertly move $10 billion out of Russia through a process known as “mirror trading”” prompted Rep. Maxine Waters (D-CA), Rep. Daniel Kildee (D-MI), Rep. Gwen Moore (D-WI), Rep. Al Green (D-LA) and Rep. Ed Perlmutter (D-CO) to request “whether loans Deutsche Bank made to President Trump were guaranteed by the Russian Government, or were in any way connected to Russia,” the letter to the bank said. “Only with full disclosure can the American public determine the extent of the President’s financial ties to Russia and any impact such ties may have on his policy decisions,” the committee said in the letter.”  Yahoo News

DEUTSCHE BANK IS TURNING OVER INFORMATION ON TRUMP  Vanity Fair

Regulators are scrutinizing hundreds of millions in loans and a subpoena from Robert Mueller is expected.  July 20, 2017

“In addition to Donald, Ivanka Trump is also said to be a Deutsche Bank client, as is Jared Kushner and his mother, who, per the Times, have “an unsecured line of credit from Deutsche Bank, valued at up to $25 million.” In addition, the Kushner family business, Kushner Companies, got a $285 million loan from the bank last year (2016). And because the Kushners and Trumps have never shied away from conflicts of interest, in 2013, Kushner reportedly “ordered up a glowing profile of [Vrablic] in the real estate magazine he owned,” with a disclosure about their connection at the very end of the piece. The New York Times reports that banking regulators are currently “reviewing hundreds of millions of dollars in loans made to Mr. Trump’s businesses through Deutsche Bank’s private wealth management unit . . . to [see] if the loans might expose the bank to heightened risk.”Meanwhile, the Guardian reports that executives at Deutsche are “expecting that the bank will soon be receiving subpoenas or other requests for information from Robert Mueller,” and that the special counsel’s investigative team and the bank have “already established informal contact in connection to the federal investigation.”

There’s certainly plenty to look into. Over the last 20 years, Trump has received more than $4 billion in loan commitments and potential bond offerings from the German lender, despite suing the company in 2008 when he fell behind on payments on the $640 million loan he was given to build Trump International Hotel & Tower in Chicago. Incredibly, in order to avoid paying the $40 million he had personally guaranteed, Trump and his lawyer argued that “Deutsche Bank is one of the banks primarily responsible for the economic dysfunction we are currently facing”—i.e. the global financial crisis—and therefore it should pay him $3 billion in damages under the extraordinary event clause in his contract. Naturally, the bank countersued, calling the real-estate developer’s claim “classic Trump.” In the end, after threatening to take his name off the building if he wasn’t granted more time to pay, the bank gave Trump extra time; when he did pay the money he owed to the firm’s real-estate lending division, it was with another loan he got from Deutsche’s wealth-management unit. Trump subsequently moved his business from the real estate group to the private wealth management group, where, according to the Times, “executives were more willing to deal with him.” One of those executives was Rosemary Vrablic, who has helped finance three Trump properties over the last six years, lending $300 million in the process. That amount is “somewhat unusual by Wall Street standards,” former and current Deutsche Bank executives and wealth managers at other firms on Wall Street told the Times” Vanity Fair

Deutsche Bank Found `Systemic’ Failure in Russia Cash Flight  Bloomberg

Trump May Have a $300 Million Conflict of Interest With Deutsche Bank  Bloomberg

Read More on the Deutsche Bank page

Deutsche Bank’s Rosemary Vrablic and Private Banking’s Link to CRE Finance

“With a book of business north of $5.5 billion, Rosemary Vrablic, a managing director in the asset and wealth management division at Deutsche Bank, can help.
Private banking is loosely defined as personalized financial services offered by banks to their high-net-worth clients.

The firm places Deutsche Bank’s global assets under management in this area at $348.6 billion at the end of 2011—no small achievement for a German-based bank at the height of the European debt crisis and during a year that saw the United States riled by its own debt ceiling debacle.

“In 2008 and 2009, I saw real concern—even from our wealthiest clients. They were in the most defensive position I have seen in all of my career,” Ms. Vrablic told The Mortgage Observer one recent winter morning at the bank’s Park Avenue offices.”  Commercial Observer 

Observer Media is a Kushner company.

Deutsche Bank’s $10-Billion Scandal

How a scheme to help Russians secretly funnel money offshore unravelled.  The New Yorker