New York attorney probing Trump business deals

New York attorney probing Trump business deals

New York attorney probing Trump business deals

The New York attorney general's office has opened an investigation related to the financing of Trump Organization projects by Deutsche Bank, whose wealth management unit allegedly extended credit to Trump even after its investment bank stopped doing business with the organization, according to news reports.

The subpoenas issued by the attorney general seek loan applications, as well as mortgages, credit lines and other documents related to the Trump International Hotel in Washington DC, buildings in Chicago and NY and a golf course in the Miami area.

The investigation's scope is not yet known at this time, additional reporting from Bloomberg noted.

The subpoenas issued late Monday were prompted by explosive congressional testimony last month by Trump's former lawyer and fixer, Michael Cohen, said the person, who declined to be identified because the investigation isn't yet public.

The subpoenas also relate to Trump's unsuccessful attempt to buy the Buffalo Bills NFL team in 2014. The office of the NY attorney general declined to comment on the reports.

A person familiar with the matter says Monday's subpoenas seek loan applications, mortgages and other records.

Mr Cohen told a House committee it was common for Mr Trump to overstate his wealth when dealing with the news media or banks, but understate it when it came time to pay his taxes.

Among the banks receiving subpoenas is Deutsche Bank, which has been among the very few willing to do business with Donald Trump. The press office for New Jersey-based Investors Bank didn't immediately return a call for comment. A request for comment from the Trump Organization was not returned.

"I will be shining a bright light into every dark corner of his real estate dealings, and every dealing, demanding truthfulness at every turn", she said in her election victory speech in November, according to the Times.

Mr. Trump was also previously caught in litigation with the bank over outstanding balances on construction loans.

The decision followed a lawsuit in which investigators alleged that he used the institution to advance his 2016 presidential campaign and businesses. Before former Attorney General Eric T. Schneiderman resigned amid allegations of assault and abuse against women, he pursued cases against the Trump Foundation and Trump University.

In Congress, the House Intelligence Committee has been exploring real estate transactions related to Russian Federation and other foreign interests, including Deutsche Bank loans to the Trump Organization.

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