A report says former and current Deutsche Bank employees investigating money laundering in 2016 and 2017 found suspicious financial activity involving US President Donald Trump and his son-in-law Jared Kushner.
The New York Times carried the report on Sunday, citing the employees as saying they had been prompted to the existence of “illicit activity” by computers reviewing the transactions involving a former Kushner company.
The bank’s anti-money laundering specialists then recommended 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 paper wrote.
“The nature of the transactions was not clear. At least some of them involved money flowing back and forth with overseas entities or individuals, which bank employees considered suspicious,” it added.
The bank’s authorities, however, ruled out any investigation into the matter. The staffers, meanwhile, cited a history of the bank’s negating such probes to retain its wealthy clients.
The reports, therefore, never found their way to the US government.
Former employee Tammy McFadden said she was terminated last year after raising concerns about the bank’s practices.
“You present them with everything, and you give them a recommendation, and nothing happens,” she said, adding, “It’s the D.B. way. They are prone to discounting everything.”
Trump is already embroiled in another scandal involving his refusal to produce his tax returns.
Democrats want his returns as part of their inquiry into possible conflicts of interest posed by his continued ownership of extensive business interests, both before and after his inauguration as president in 2016.
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