Bloomberg Corrects Bombshell Trump Bank Records Story

Tomas Mccoy
December 8, 2017

Multiple news outlets, citing an anonymous source or sources, reported that the scandal-ridden special counsel investigation led by Robert Mueller issued a subpoena to Deutsche Bank AG for records regarding President Donald Trump and his family.

Deutsche Bank, the German bank that serves as Trump's biggest lender, was forced to submit documents about its client relationship with the president and some of his family members, who are also Deutsche clients, after Mueller issued the bank with a subpoena for information, according to media reports.

Mr Mueller is investigating alleged Russian attempts to influence the election, and potential collusion by Trump aides.

Bloomberg News corrected a major story that alleged the Justice Department had subpoenaed President Donald Trump's past financial records.

"We have confirmed that the news reports that the special counsel had subpoenaed financial records relating to the president are false". Bloomberg estimates that upon his inauguration, Trump owed Deutsche Bank $300 million, loans that were due in 2023 and 2024, respectively. "We have confirmed this with the bank and other sources", Sekulow said in a statement.

During a photo opportunity with senators at the White House on Tuesday, Trump declined to answer shouted questions from reporters about whether Mueller had crossed a line by asking Deutsche Bank for information.


"An earlier subheadline said a subpoena from special counsel Robert Mueller's office requested data and documents about President Trump's accounts", a correction reads.

Instead of targeting Trump or his family's records, the subpoenas were aimed at records that pertain to people or organizations affiliated with the president, according to the corrected stories. The bank sued to force Trump to pay a portion of the debt: $40 million plus legal fees and interest.

The $300 million includes a $170 million loan Trump took out to complete a hotel in Washington, two mortgages against his Trump National Doral Miami resort, and a loan against his tower in Chicago.

In a July 9 interview with the New York Times, Trump said Mueller should not extend his investigation into Trump's finances if they were not directly related to the Russian Federation accusations. But that's where this story gets interesting: After a judge ordered Trump to repay the money he owed Deutsche Bank, Trump did it using money he borrowed from.

AFP reported late Tuesday that the subpoena sought information about Paul Manafort, the former Trump campaign official who was indicted in October. But it was not immediately clear what their relationship with the bank is or had been.

Mueller has also obtained a guilty plea from Trump campaign foreign policy advisor George Papadopoulos.

Other reports by Ligue1talk

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