Mar 12, 2019

NYT: New York AG issues subpoenas to banks over Trump projects

The New York attorney general’s office issued subpoenas late Monday to Deutsche Bank AG and Investors Bank over their financing of Trump Organization projects for a civil investigation, The New York Times first reported.

Details: The subpoenas seek records relating to five projects, including President Trump’s unsuccessful attempt to buy the Buffalo Bills, and four Trump Organization projects, according to the Times and ABC News. Both cited unnamed sources.

The big picture: The investigation by the office of New York Attorney General Letitia James follows testimony from the president's former personal lawyer and fixer Michael Cohen that Trump inflated his total assets in financial statements. He presented Congress with statements he alleged were submitted to Deutsche Bank. The German multinational bank is one of the few financial institutions willing to lend Trump money and is the subject of two congressional investigations.

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