Deutsche Bank employees say bank bosses ignored flagging of Trump, Kushner transactions
Concerns were raised over alleged illicit activity that involved entities controlled by the US president and his son-in-law
Washington — Anti-money laundering specialists at Deutsche Bank recommended in 2016 and 2017 that multiple transactions involving entities controlled by US President Donald Trump and his son-in-law, Jared Kushner, be reported to a federal financial crimes watchdog, the New York Times reported on Sunday. The newspaper, citing five current and former Deutsche Bank employees, said executives at the German bank, which has lent billions of dollars to the Trump and Kushner companies, rejected their employees’ advice and the reports were never filed with the government. Deutsche Bank denied the report but shares in Germany’s largest bank hit a new low on Monday, below a previous minimum set in December. Shares fell 2.8% at £6.65. Trump rejected the report in a blast of early-morning tweets on Monday, saying he had little need for banks because he had so much cash on hand, and denied that the money came from Russia. The compliance allegations are the latest in a wave of problems to beset...
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