As reported by Deutsche Welle, Donald Trump owes hundreds of millions to Deutsche Bank in connection with past real estate deals. Some politicians who are not fans of the president are blowing smoke hoping people will think there’s a fire.
For many years, Deutsche Bank has been among the largest lenders to the real estate empire of Donald Trump. Now that Trump is US president, this relationship has been generating scrutiny – in part because Deutsche has a number of outstanding regulatory issues to resolve with the US federal government.
One of those issues is a Department of Justice investigation into the bank’s role in a Russian “mirror-trading” scheme that allowed some Russian oligarchs to trade rubles for dollars and thereby funnel money out of Russia. This was a money-laundering scheme designed, in part, to allow oligarchs with close ties to the Kremlin to dodge sanctions imposed on them by the US in the wake of the 2014 Ukraine crisis.
© 2017 Deutsche Welle