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demmiblue

(36,742 posts)
Sun May 19, 2019, 12:12 PM May 2019

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. Trump’s 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 Bank’s 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




28 replies = new reply since forum marked as read
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Deutsche Bank Staff Saw Suspicious Activity in Trump and Kushner Accounts (Original Post) demmiblue May 2019 OP
Not exactly smart to try to get someone busted ... who owe$ you hundreds of million$, now is it? mr_lebowski May 2019 #1
THIS KPN May 2019 #4
Debends on who you are. I withdrew 12,000 and had to see the bank manager to explain it. olegramps May 2019 #12
Same thing happened when I gave my daughter a down payment for her house. displacedtexan May 2019 #13
$10k is the threshold. eggplant May 2019 #14
Don't do that jmowreader May 2019 #15
Good to know. eggplant May 2019 #19
Wasn't Justice Kennedy's son their personal banker there? Grasswire2 May 2019 #2
THIS KPN May 2019 #5
... demmiblue May 2019 #21
****This is an important. Justice Kennedy's son signed off on these loans.**** MelissaB May 2019 #22
+1 riversedge May 2019 #27
Two sets of rules. sellitman May 2019 #3
And THIS KPN May 2019 #6
And the beat goes on ... KPN May 2019 #7
Another day another bombshell. Nt BootinUp May 2019 #8
My friend just said, Doreen May 2019 #9
If there is proof Trump laundered money for the Russians -- Martin Eden May 2019 #10
yes n/t luvallpeeps May 2019 #26
The Bank should have reported the transactions anyway, I thought all over $10K transactions... SWBTATTReg May 2019 #11
The investigative reporting from the NYT is amazing Politicub May 2019 #16
This is so interesting: I didn't know of *any* Deutsche Bank connection to the Trump Fdn. mahatmakanejeeves May 2019 #17
Then she was fired after she reported it. BigmanPigman May 2019 #18
Lock hi up!! Yo_Mama_Been_Loggin May 2019 #20
Dirty Donny Is Going Down colsohlibgal May 2019 #23
Why is Deutsche Bank even in business any more? /NT sdfernando May 2019 #24
Amazing to me .... Maxheader May 2019 #25
Ms. McFadden, a longtime anti-money laundering Linda Ed May 2019 #28
 

mr_lebowski

(33,643 posts)
1. Not exactly smart to try to get someone busted ... who owe$ you hundreds of million$, now is it?
Sun May 19, 2019, 12:24 PM
May 2019

Anyone think Trump and Kush aren't well aware of this particular dynamic with Deutsche?

olegramps

(8,200 posts)
12. Debends on who you are. I withdrew 12,000 and had to see the bank manager to explain it.
Sun May 19, 2019, 01:47 PM
May 2019

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)
13. Same thing happened when I gave my daughter a down payment for her house.
Sun May 19, 2019, 02:22 PM
May 2019

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 I’ll-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)
14. $10k is the threshold.
Sun May 19, 2019, 02:28 PM
May 2019

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)
15. Don't do that
Sun May 19, 2019, 02:42 PM
May 2019

That’s called structuring and it’s a federal offense. People have done time for single structuring transactions.

Martin Eden

(12,802 posts)
10. If there is proof Trump laundered money for the Russians --
Sun May 19, 2019, 01:19 PM
May 2019

-- crimes that Putin could use as leverage --

Would Republicans still do everything they can to shield this POtuS?

SWBTATTReg

(21,856 posts)
11. The Bank should have reported the transactions anyway, I thought all over $10K transactions...
Sun May 19, 2019, 01:26 PM
May 2019

had to be reported no matter what? Original intent of law was to stop drug trade, I thought.

Politicub

(12,163 posts)
16. The investigative reporting from the NYT is amazing
Sun May 19, 2019, 03:09 PM
May 2019

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)
17. This is so interesting: I didn't know of *any* Deutsche Bank connection to the Trump Fdn.
Sun May 19, 2019, 04:39 PM
May 2019
This is so interesting: I didn’t know of *any* Deutsche Bank connection to the Trump Fdn. They were never listed as a donor or vendor.


BigmanPigman

(51,430 posts)
18. Then she was fired after she reported it.
Sun May 19, 2019, 04:46 PM
May 2019

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.

colsohlibgal

(5,275 posts)
23. Dirty Donny Is Going Down
Mon May 20, 2019, 08:39 AM
May 2019

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.

Maxheader

(4,366 posts)
25. Amazing to me ....
Mon May 20, 2019, 12:12 PM
May 2019


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)
28. Ms. McFadden, a longtime anti-money laundering
Tue May 21, 2019, 02:20 AM
May 2019

Kushner’s accounts were flagged as suspicious due to transfers to Russians. The normal protocol for reporting suspicious activity wasn’t followed, and the inquiry was instead killed by bank managers in New York… where Justice Kennedy’s 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.

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