Democrats question Trump 'conflict of interest' with Deutsche Bank investigation

Source: The Guardian

Democrats question Trump 'conflict of interest' with Deutsche Bank investigation

Stephanie Kirchgaessner
Saturday 11 March 2017 13.53 GMT

Senior Democrats on Capitol Hill are calling for a congressional investigation into the justice department’s handling of an ongoing inquiry into Deutsche Bank, saying that Donald Trump had conflicts of interest with the German bank, his biggest creditor.

Maxine Waters, the top Democrat on the House financial services committee, urged her Republican colleagues to launch their own investigation into the nature of Deutsche Bank’s money-laundering scheme, who participated in the arrangement and whether it involved any other violations of US law beyond the failure to maintain anti-money laundering controls.

Deutsche Bank has already been ordered to pay more than $800m (£660m) in fines in the US and UK for failing to stop the improper and corrupt transfer of more than $10bn out of Russia. It is also being investigated by the justice department (DoJ).

The Guardian reported last month that the German bank undertook a close examination of the president’s personal bank account and those held by his family, in order to ascertain whether they had any suspicious links to Russia. None were found.

According to an analysis by Bloomberg, Trump now owes Deutsche about $300m. He has four large mortgages, all issued by Deutsche’s private bank.

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Read more: https://www.theguardian.com/business/2017/mar/11/democrats-question-trump-conflict-of-interest-deutsche-bank-investigation-money-laundering