If you have had dealings with Donald Trump, be prepared for increased scrutiny. The New York attorney general’s office recently opened a civil investigation into Deutsche Bank—one of the few lenders still willing to do business with the president in recent years—issuing subpoenas for records related to its dealings with the president.
More specifically, Attorney General Letitia James is looking for information from Deutsche Bank, as well as Investors Bank which it also subpoenaed, regarding the financing of four major Trump Organization projects, including Trump’s failed attempt to buy the NFL’s Buffalo Bills, the New York Times reports.
As the Times notes, the increased scrutiny on the lenders was brought along in part by Michael Cohen’s explosive testimony last month, in which Cohen testified that Trump “inflated his total assets when it served his purposes, such as trying to be listed amongst the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes.” Cohen said that all this was done so that Trump could appear to be a better credit risk.
And Cohen didn’t just spill the beans, he brought receipts, copies of statements that Cohen claimed were submitted to Deutsche Bank.
James’ investigation is just the latest in Deutsche Bank’s laundry list of problems, as it is already facing two congressional investigations.
A source told the Times that documents requested from Deutsche Bank included loan applications, mortgages, lines of credit and other financing transactions connected to the Trump International Hotel in Washington; the Trump National Doral outside Miami; and the Trump International Hotel and Tower in Chicago.
Neither Deutsche Bank or Investors Bank responded to the Times‘ inquiry for comment. The Trump Organization also remained silent.
And although the focus of James’ investigation remains “unclear” as Times notes, she is just fulfilling the vow she made when she was elected into office in November.
“We will use every area of the law to investigate President Trump and his business transactions and that of his family,” James told NBC in an interview prior to taking office, the Times reports.
If James’ investigation does uncover illegal activity, it would be well within her authority to fine Trump’s business or even make a push in court to have it dissolved.
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