Deutsche Bank Staff Saw Suspicious Activity in Trump and Kushner Accounts
Source: NYT
JACKSONVILLE, Fla. Anti-money laundering specialists at Deutsche Bank recommended in 2016 and 2017 that multiple transactions involving legal entities controlled by Donald J. Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog.
The transactions, some of which involved Mr. Trumps now-defunct foundation, set off alerts in a computer system designed to detect illicit activity, according to five current and former bank employees. Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes.
But executives at Deutsche Bank, which has lent billions of dollars to the Trump and Kushner companies, rejected their employees advice. The reports were never filed with the government.
...
Ms. McFadden, a longtime anti-money laundering specialist in Deutsche Banks Jacksonville office, said she had reviewed the transactions and found that money had moved from Kushner Companies to Russian individuals. She concluded that the transactions should be reported to the government in part because federal regulators had ordered Deutsche Bank, which had been caught laundering billions of dollars for Russians, to toughen its scrutiny of potentially illegal transactions.
Read more: https://www.nytimes.com/2019/05/19/business/deutsche-bank-trump-kushner.html?smid=tw-nytimes&smtyp=cur
Link to tweet
mr_lebowski
(33,643 posts)Anyone think Trump and Kush aren't well aware of this particular dynamic with Deutsche?
olegramps
(8,200 posts)It was a personal bridge loan to a relative for him and his family to secure a franchise. The anointed can transfer millions without a question.
displacedtexan
(15,694 posts)I had to prove that the money was mine, from a legitimate source (my savings account), and show documentation from my bank that the money wasn't from Ill-gotten gains. Then when the broker had miscalculated the amount by $4k, we had to do the whole proof thing all over again. What a hassle!
But that was me, a HS teacher. Not Trump or Kushner. GRRRRR
eggplant
(3,891 posts)Last edited Sun May 19, 2019, 05:18 PM - Edit history (1)
N̶e̶x̶t̶ ̶t̶i̶m̶e̶,̶ ̶t̶a̶k̶e̶ ̶o̶u̶t̶ ̶$̶1̶0̶k̶ ̶a̶n̶d̶ ̶$̶2̶k̶. Silly, but true.
Note: $10k is ok. $10k + a penny gets you reported.
On edit: apparently this is a bad idea.
jmowreader
(50,447 posts)Thats called structuring and its a federal offense. People have done time for single structuring transactions.
eggplant
(3,891 posts)Grasswire2
(13,564 posts)nt
MelissaB
(16,420 posts)sellitman
(11,596 posts)One for those of power and wealth and one for the rest of us.
KPN
(15,585 posts)BootinUp
(46,924 posts)Doreen
(11,686 posts)"That is a understatement."
Martin Eden
(12,802 posts)-- crimes that Putin could use as leverage --
Would Republicans still do everything they can to shield this POtuS?
luvallpeeps
(934 posts)SWBTATTReg
(21,856 posts)had to be reported no matter what? Original intent of law was to stop drug trade, I thought.
Politicub
(12,163 posts)It should open every American's eyes to the corruption of the Trump administration and everyone connected to it.
Is there any doubt about the reason why Tump has worked tirelessly on sowing seeds of doubt about the news media? It causes his supporters to discount anything that they see that doesn't come from Trump's gaping maw.
mahatmakanejeeves
(56,884 posts)This is so interesting: I didnt know of *any* Deutsche Bank connection to the Trump Fdn. They were never listed as a donor or vendor.
Link to tweet
BigmanPigman
(51,430 posts)She did what she was supposed to do and ended up getting fired by her managers who did not alert the US govt like they are required to do. MSNBC was just discussing this.
Yo_Mama_Been_Loggin
(107,063 posts)colsohlibgal
(5,275 posts)One way or another. He is in essence like a stupid mafia boss.
I am still dumbfounded that anyone looking at him and hearing him would see him as presidential.
sdfernando
(4,896 posts)Maxheader
(4,366 posts)Dementia boy hasn't been in prison at some time in the past..
Or maybe dada kept the worthless dick out...
Linda Ed
(492 posts)Kushners accounts were flagged as suspicious due to transfers to Russians. The normal protocol for reporting suspicious activity wasnt followed, and the inquiry was instead killed by bank managers in New York
where Justice Kennedys son happened to manage.
I hate to be *that* person, but having a SCOTUS Justice retire abruptly and be replaced by his former law clerk right after he son was doing shady stuff with the future President of the United States is a little too much of a coincidence for me.