The sports category has moved to a new website.
ADVERTISEMENT

US lawmakers seek details of President's ties with Deutsche Bank, Russia

It was the latest twist in the high-stakes investigation of Trump's relations with Moscow.

US regulators have fined Deutsche Bank billions of dollars over an interest rate manipulation scandal, selling toxic mortgage-backed securities, and lax anti-money laundering procedures

It was the latest twist in the high-stakes investigation of Trump's relations with Moscow, and whether there was any collusion between his campaign and an alleged Russian bid to tilt the US election in the Republican's favor.

Democratic members of the House Financial Services Committee in letters dated Tuesday, also demanded similar documents from Treasury Secretary Steven Mnuchin seeking clues to any financial leverage the Russian government or oligarchs may have had over Trump or his family.

"Congress remains in the dark on whether loans Deutsche Bank made to President Trump were guaranteed by the Russian Government, or were in any way connected to Russia," said the letter to the bank, signed by five Democratic committee members.

ADVERTISEMENT

"It is critical that you provide this committee with the information necessary to assess the scope, findings and conclusions of your internal reviews."

They noted that the bank had conducted an internal review of its dealings with Trump and his family members, as well as a 2011 Russian trading scandal, but said it has declined to comment publicly on its findings.

A Deutsche Bank spokeswoman declined to comment on the letter.

US regulators have fined the bank billions of dollars over an interest rate manipulation scandal, selling toxic mortgage-backed securities, and lax anti-money laundering procedures.

"Deutsche Bank's pattern of involvement in money laundering schemes with primarily Russian participation, its unconventional relationship with the President, and its repeated violations of US banking laws, all raise serious questions about whether the Bank's reported reviews of the trading scheme and Trump's financial ties to Russia were completely thorough," the lawmakers' letter said.

ADVERTISEMENT

It noted the bank continued to do business with Trump when others refused because he repeatedly declared bankruptcy, and reports indicate his companies owe $340 million to Deutsche Bank.

The committee called on the bank to provide "any document, record, memo, correspondence, or other communication related to the 2011 Russian mirror trading scheme," as well as details of any loans and guarantees made to Trump or his family members.

In a separate letter, the committee called on the Treasury Department to provide similar details of any loans to Trump and the ties to Russia, information already sought by the Senate and House Intelligence Committees.

"The nearly constant stream of allegations about the President's ties to Russian government officials, oligarchs, and organized crime leaders raises serious questions as to whether such individuals may have financial leverage of the President and his Administration."

Several committees in the US Congress are looking into ties between the Trump campaign and Russia, in addition to an FBI probe being overseen by a special prosecutor, the former FBI director Robert Mueller.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Marianne Kitany tactfully speaks on whether Ruto should fire her ex, CS Linturi

Marianne Kitany tactfully speaks on whether Ruto should fire her ex, CS Linturi

Gov't & opposition officials clash at Rita Tinina's burial ceremony

Gov't & opposition officials clash at Rita Tinina's burial ceremony

CS Murkomen unveils new number plates for cars that will get preferential treatment

CS Murkomen unveils new number plates for cars that will get preferential treatment

Moi University students escape through windows after road crash

Moi University students escape through windows after road crash

57,000 civil servants to have their rent reviewed upwards

57,000 civil servants to have their rent reviewed upwards

Interesting story of U.S. Army Specialist Wambui who comes from a military family

Interesting story of U.S. Army Specialist Wambui who comes from a military family

Heroic GSU officer dies after jumping out of a taxi along Thika Super Highway

Heroic GSU officer dies after jumping out of a taxi along Thika Super Highway

DJ Joe Mfalme detained for 14 more days

DJ Joe Mfalme detained for 14 more days

Explosive blows up hotel next to police station, deaths reported

Explosive blows up hotel next to police station, deaths reported

ADVERTISEMENT