In 2016 and 2017, anti-money laundering specialists at Deutsche Bank flagged several transactions involving accounts controlled by President Trump and his son-in-law, Jared Kushner, as suspicious, but executives chose to ignore their reports, current and former bank employees told The New York Times.
Multiple transactions, some involving Trump’s now-shuttered foundation, set off alerts in a computer system that detects potentially illegal activity, the employees said. Workers are supposed to look over these transactions, and those deemed suspicious are reported to the Treasury Department unit covering financial crimes.
In one case, the computer system flagged several transactions involving Kushner’s real estate company during the summer of 2016. 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. Instead of going to Deutsche Bank anti-money laundering experts, her report and supporting documents went to New York managers who were part of the private banking arm, which works with the extremely wealthy, the Times reports. They chose not to forward her report to the government, and McFadden told the Times she believes their decision was motivated by their desire to maintain a close relationship with Kushner.
Deutsche Bank has lent both Trump and Kushner companies billions of dollars, even when other financial institutions wouldn’t work with Trump. Congressional and state authorities investigating the relationship between Trump and Deutsche Bank have requested records related to Trump; in April, the Trump Organization sued the bank, attempting to block it from complying with congressional subpoenas. For more on the suspicious Kushner and Trump-related transactions, visit The New York Times.
Read more: theweek.com