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Trump's Deutsche Bank Records Said to Be Subpoenaed by Mueller

Bloomberg logo Bloomberg 12/5/2017 Steven Arons

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(Bloomberg) -- Special prosecutor Robert Mueller zeroed in on President Donald Trump’s business dealings with Deutsche Bank AG as his investigation into alleged Russian meddling in U.S. elections widens.

Mueller has issued a subpoena to Germany’s largest lender, forcing the bank to submit documents on its client relationship with Trump and his family, said a person briefed on the matter, who asked not to be identified because the action has not been announced.

“Deutsche Bank always cooperates with investigating authorities in all countries,” the lender said in a statement to Bloomberg, declining to provide additional information.

Deutsche Bank for months has rebuffed calls by Democratic lawmakers to provide more transparency over the roughly $300 million Trump owed to the bank for his real estate dealings prior to becoming president. Representative Maxine Waters of California and other Democrats have asked whether the bank’s loans to Trump, made years before he ran for president, were in any way connected to Russia. The bank previously rejected those demands, saying sharing client data would be illegal unless it received a formal request to do so. Trump has denied any wrongdoing.

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Deutsche Bank management is ready to share information about the lender’s dealings with Trump and is hopeful that doing so will help end the series of inquiries from Democrats, said an executive at the bank who asked not to be identified discussing private deliberations.

Former FBI Director Robert Mueller, special counsel on the Russian investigation, leaves following a meeting with members of the US Senate Judiciary Committee at the US Capitol in Washington, DC on June 21, 2017. © SAUL LOEB/AFP/Getty Images Former FBI Director Robert Mueller, special counsel on the Russian investigation, leaves following a meeting with members of the US Senate Judiciary Committee at the US Capitol in Washington, DC on June 21, 2017. The news comes as Mueller’s investigation -- which is looking into alleged Russian interference into last year’s U.S. election and whether Trump’s winning campaign assisted in those efforts -- appears to be entering a new phase. Trump’s former national security adviser, Michael Flynn, plead guilty Friday to lying to FBI agents, becoming the fourth associate of the president ensnared by Mueller’s probe. More significantly, he also is providing details to Mueller about the Trump campaign’s approach to Flynn’s controversial meeting with a Russian envoy during the presidential transition.

Democratic senators, including Dianne Feinstein, suggested after the Flynn plea that Mueller might be building an obstruction of justice case against Trump. But the Deutsche Bank subpoena may indicate that the special prosecutor is still looking at a wide range of data, including the president’s financial dealings.

Mueller’s team has also been interviewing White House aides in recent weeks, including former Chief of Staff Reince Priebus, former spokesman Sean Spicer and National Security Council chief of staff Keith Kellogg, according to people familiar with the investigation.

As Mueller’s investigation unfolds, Trump has gone on the offensive. Over the weekend on Twitter, he attacked the FBI and Mueller’s team and defended some of Flynn’s actions. In particular, Trump hailed the news that one of Mueller’s aides had been removed from his job over the summer for some anti-Trump text messages. 

On Monday, as he left the White House for a trip to Utah, Trump restated his sympathy for Flynn and his assertion that prosecutors should have pursued action against his general election rival, Hillary Clinton.

(Adds Deutsche Bank statement in third paragraph.)

--With assistance from Billy House Chris Strohm and Ross Larsen

To contact the reporter on this story: Steven Arons in Frankfurt at sarons@bloomberg.net.

To contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Chad Thomas, Anthony Aarons

©2017 Bloomberg L.P.

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