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Congressional investigators on Monday issued subpoenas to Deutsche Bank and many other banks, seeking information on President Trump's finances and the lenders' trade relations with Russians, according to several analysts. aware of the investigation.
Subpoenas from the House's intelligence and financial services committees were the latest attempts by congressional Democrats to gather information about Trump's finances and his family's business. Another committee of the House is seeking Mr. Trump's personal and corporate tax returns separately.
The committees that issued subpoenas on Monday are jointly investigating Deutsche Bank's relationship with Mr. Trump. Over the past two decades, Deutsche Bank has been the only traditional bank to want to do business with Mr. Trump, who has a long history of defaults and bankruptcies. The bank lent him well over $ 2 billion and Mr. Trump had more than $ 300 million in outstanding loans from Deutsche Bank upon taking office, making the German bank the largest creditor Of the president.
Kerrie McHugh, a spokeswoman for Deutsche Bank, said the company was "engaged in a productive dialogue" with the committees. "We remain committed to providing appropriate information to all authorized investigations in accordance with our legal obligations," she said.
Several other banks – including Citigroup, JPMorgan Chase and Bank of America – also received subpoenas on Monday, according to two people familiar with the subpoenas. They spoke under the condition of anonymity to discuss an open investigation.
The subpoenas are looking for documents related to the banks' business with a list of alleged money launderers from Russia and other Eastern European countries, according to a person familiar with the banks. subpoenas.
The Deutsche Bank subpoena had been in preparation for months, with congressional investigators negotiating specific requests with the bank's lawyers. Deutsche Bank has requested that the scope of the subpoena be reduced, saying that it would be easier and faster for the bank to produce the documents, said three people.
The White House did not immediately respond to a request for comment Monday night. The Trump organization, the holding company that oversees Trump's commercial activities, also failed to respond immediately to a request for comment.
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