Trump defends his use of Deutsche Bank as troubled giant faces of DOJ research and fires thousands of employees
- Deutsche Bank AG announced 18,000 redundancies worldwide on Monday
- Ministry of Justice assesses whether the bank has violated anti-corruption legislation in its work with an entity associated with the 1MDB scandal
- The bank became Trump's primary lender even after other institutions withdrew after bankruptcies
- Trump said he didn't use many banks because he didn't (need) their money
- Calls the German lender & # 39; maligned & # 39; and says & # 39; they wanted my case & # 39;
- Democrats are investigating Trump's financial ties with the bank
President Donald Trump defended the & # 39; maligned & # 39; Deutsche Bank AG on Twitter, after chaining thousands of people and the Democrats, had the credit it had given Trump to maintain and expand its real estate empire.
The German lender became a primary lender for the Trump organization after bankruptcies in the 1990s, when other financial institutions withdrew. Reportedly, the $ 2 billion credit extended, and the Trump organization continues to have loans estimated at hundreds of millions of dollars.
& # 39; The Fake News Media likes the story that I didn't use many banks because the banks didn't like me & # 39 ;, Trump wrote and took over the issue that caught the attention of both researchers from Special Counsel Robert Mueller as that of the Democratic Commission.
President Donald Trump defended the & # 39; maligned & # 39; Deutsche Bank AG, which granted credit to the Trump organization after the 1990s
& # 39; No, I have not used many banks because I did not need their money (old-fashioned, right?). If I did, it would have been very easy for me to get, & Trump wrote.
He continued: & # 39; And don't forget, a bank that I used years ago, the now badly written and maligned Deutsche Bank, was then one of the largest and most prestigious banks in the world! They wanted my company, just like many others! & # 39;
The company announced Monday 18,000 redundancies worldwide. It has also come under federal investigation from the Ministry of Justice to untangle the 1MDB scandal.
Researchers are investigating whether the bank has violated foreign anti-corruption and money laundering legislation in its work with 1Malaysia Development Bhd, the Wall Street Journal reported.
Trump took the & # 39; story & # 39; Deutshe Bank became his main lender because other banks did not want his business
Deutsche Bank AG has announced 18,000 redundancies worldwide on Monday
"Deutsche Bank has fully cooperated with all regulatory and law enforcement agencies that have requested information regarding 1MDB," said a company spokesperson.
Democrats on two house panels examine the president's ties with the German bank and follow his administration of accounts, transactions and investments, as well as those of his family members and the Trump organization.
The House's financial services and intelligence commissions summoned the bank for documents in their investigation into Trump's finances.
Trump said he didn't use many banks because he didn't (need) their money
City dwellers walk on the sidewalk outside the Deutsche Bank offices in London on July 9, 2019 in London, England. Deutsche Bank has begun creating the first of a proposed 18,000 jobs as part of a radical restructuring plan
Eric Trump, who helps run the Trump organization, has sued in April as a & # 39; unprecedented abuse of power & # 39; rejected.
In addition to investigating the ties with the Republican president, Deutsche Bank is struggling to reinvent itself and announced a major restructuring last weekend that has tapped its shares.
Trump, a real estate developer and former TV star of reality, has filed a lawsuit to block the subpoenas of the commissions of the House for bank registration, which lawmakers say are crucial for investigating potential conflicts of interest or other issues .
A US judge in May said that Congress has the legal authority to demand the records. Trump has appealed and oral arguments are planned for August.
Lawmakers are also looking for financial information from Trump from Capitol One Financial, as well as Trump & # 39; s old accounting firm Mazars LLP.
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