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retrofade

Deutsche Bank Staff Saw Suspicious Activity in Trump and Kushner Accounts

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Anti-money-laundering specialists at Deutsche Bank recommended in 2016 and 2017 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 transactions, some of which involved Mr. Trump’s now-defunct foundation, set off alerts in a computer system designed to detect illicit activity, according to five current and former bank employees. Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes.

But executives at Deutsche Bank, which has lent billions of dollars to the Trump and Kushner companies, rejected their employees’ advice. The reports were never filed with the government.

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.

Real estate developers like Mr. Trump and Mr. Kushner sometimes do large, all-cash deals, including with people outside the United States, any of which can prompt anti-money laundering reviews. The red flags raised by employees do not necessarily mean the transactions were improper. Banks sometimes opt not to file suspicious activity reports if they conclude their employees’ concerns are unwarranted.
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In the summer of 2016, Deutsche Bank’s software flagged a series of transactions involving the real estate company of Mr. Kushner, now a senior White House adviser.

Ms. McFadden, a longtime anti-money laundering specialist in Deutsche Bank’s Jacksonville office, said she had reviewed the transactions and found that money had moved from Kushner Companies to Russian individuals. She concluded that the transactions should be reported to the government — in part because federal regulators had ordered Deutsche Bank, which had been caught laundering billions of dollars for Russians, to toughen its scrutiny of potentially illegal transactions.

Typically, such a report would be reviewed by a team of anti-money laundering experts who are independent of the business line in which the transactions originated — in this case, the private-banking division — according to Ms. McFadden and two former Deutsche Bank managers.

That did not happen with this report. It went to managers in New York who were part of the private bank, which caters to the ultrawealthy. They felt Ms. McFadden’s concerns were unfounded and opted not to submit the report to the government, the employees said.

After Mr. Trump became president, transactions involving him and his companies were reviewed by an anti-financial crime team at the bank called the Special Investigations Unit. That team, based in Jacksonville, produced multiple suspicious activity reports involving different entities that Mr. Trump owned or controlled, according to three former Deutsche Bank employees who saw the reports in an internal computer system.

Some of those reports involved Mr. Trump’s limited liability companies. At least one was related to transactions involving the Donald J. Trump Foundation, two employees said.

Deutsche Bank ultimately chose not to file those suspicious activity reports with the Treasury Department, either, according to three former employees. They said it was unusual for the bank to reject a series of reports involving the same high-profile client.

https://www.nytimes.com/2019/05/19/business/deutsche-bank-trump-kushner.html

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The Failing New York Times (it will pass away when I leave office in 6 years), and others of the Fake News Media, keep writing phony stories about how I didn’t use many banks because they didn’t want to do business with me. WRONG! It is because I didn’t need money. Very old....fashioned, but true. When you don’t need or want money, you don’t need or want banks. Banks have always been available to me, they want to make money. Fake Media only says this to disparage, and always uses unnamed sources (because their sources don’t even exist)......The Mainstream Media has never been as corrupt and deranged as it is today. FAKE NEWS is actually the biggest story of all and is the true ENEMY OF THE PEOPLE! That’s why they refuse to cover the REAL Russia Hoax. But the American people are wise to what is going on.........Now the new big story is that Trump made a lot of money and buys everything for cash, he doesn’t need banks. But where did he get all of that cash? Could it be Russia? No, I built a great business and don’t need banks, but if I did they would be there...and DeutscheBank...........was very good and highly professional to deal with - and if for any reason I didn’t like them, I would have gone elsewhere....there was always plenty of money around and banks to choose from. They would be very happy to take my money. Fake News!

-President Donald J. Trump

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7 hours ago, retrofade said:

This could be bad news for Deutsche Bank if they didn't comply with the bank secrecy act.  Banks are required to report lots of things to the feds - transactions over 10k in one day, for example.  This is very routine for banks and doesn't mean the party banking the transaction has done anything wrong.

The World Needs More Cowboys!

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4 minutes ago, pokebball said:

This could be bad news for Deutsche Bank if they didn't comply with the bank secrecy act.  Banks are required to report lots of things to the feds - transactions over 10k in one day, for example.  This is very routine for banks and doesn't mean the party banking the transaction has done anything wrong.

Agreed... if you see further in the article, you'll see that this wasn't just localized to Trump, but that the entire fraud division errs on the side of not reporting things. 

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5 hours ago, retrofade said:

Agreed... if you see further in the article, you'll see that this wasn't just localized to Trump, but that the entire fraud division errs on the side of not reporting things. 

Deutsche Bank has been linked to Danske Bank who laundered Billions in Russian dollars.  

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In this country the leeches that produce nothing are hailed as heroes.   

 

The hero's who pay all the taxes, provide all that cool military equipment, build all the roads, sewers and infrastructure are insulted, called traitors and forced to deal with invasive legal attacks.  They are attacked in cinema, media and our places of higher education and by the government they support.

It is really sad when you think about it.

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5 hours ago, bluerules009 said:

In this country the leeches that produce nothing are hailed as heroes.   

 

The hero's who pay all the taxes, provide all that cool military equipment, build all the roads, sewers and infrastructure are insulted, called traitors and forced to deal with invasive legal attacks.  They are attacked in cinema, media and our places of higher education and by the government they support.

It is really sad when you think about it.

Yep. It’s pretty sad that you just called Trump a hero who “pays” for things through taxes. The taxes that he doesn’t pay, or at least didn’t for most of 85-95. At least you’ve finally admitted your true feelings towards him. 

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8 hours ago, sactowndog said:

Deutsche Bank has been linked to Danske Bank who laundered Billions in Russian dollars.  

I think Deutsche Bank got their titty in a ringer and settled for not reporting Bernie Madoff transactions.

The World Needs More Cowboys!

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This is a really in-depth look at Deutsche Bank and it's relationship with Trump.

https://www.npr.org/2019/05/09/721723204/deutsche-bank-is-the-rosetta-stone-to-unlock-trump-finances-journalist-says

Over the course of time, Trump dealt with 3 different entities within the bank; the "investment banking division", the "commercial real estate division" and the "personal banking division". He eventually burned them all. Surprisingly, it was often/always a case of the left hand being completely unaware of what the right hand was doing.

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6 hours ago, renoskier said:

This is a really in-depth look at Deutsche Bank and it's relationship with Trump.

https://www.npr.org/2019/05/09/721723204/deutsche-bank-is-the-rosetta-stone-to-unlock-trump-finances-journalist-says

Over the course of time, Trump dealt with 3 different entities within the bank; the "investment banking division", the "commercial real estate division" and the "personal banking division". He eventually burned them all. Surprisingly, it was often/always a case of the left hand being completely unaware of what the right hand was doing.

Major props for the link.

Mu biggest complaint about Obama has always been how he and Holder never held Wall Street Banks' feet to the fire as was promised. Well, Deutsche Bank appears to have been an even more incompetent financial institution than those which Obama allowed to get away with murder. (Financially speaking, of course.)

Boom goes the dynamite.

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13 hours ago, retrofade said:

Yep. It’s pretty sad that you just called Trump a hero who “pays” for things through taxes. The taxes that he doesn’t pay, or at least didn’t for most of 85-95. At least you’ve finally admitted your true feelings towards him. 

You are too fucking stupid to even comment on taxes.  Let alone understand that i didn't even mention Trump and wasn't referring to him specifically in my post.

Trump hotels pays more property and personal property, inventory and business property taxes every year than you pay total in your entire lifetime.

Trump pays more employee taxes than you pay total in your entire lifetime.

Trump pays more corporate taxes each year  than you pay total in your entire lifetime.

Trump pays more room tax and sales tax each year  than you pay total in your entire lifetime.

That is even if he pays no personal income tax which he probably pays a lot most years.  That doesn't even count the fees, licences, and myriad of other taxes he pays each year.

 

Come back when you have something more than a papermill education and can discuss the subject intelligently.

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3 hours ago, bluerules009 said:

You are too fucking stupid to even comment on taxes.  Let alone understand that i didn't even mention Trump and wasn't referring to him specifically in my post.

Trump hotels pays more property and personal property, inventory and business property taxes every year than you pay total in your entire lifetime.

Trump pays more employee taxes than you pay total in your entire lifetime.

Trump pays more corporate taxes each year  than you pay total in your entire lifetime.

Trump pays more room tax and sales tax each year  than you pay total in your entire lifetime.

That is even if he pays no personal income tax which he probably pays a lot most years.  That doesn't even count the fees, licences, and myriad of other taxes he pays each year.

 

Come back when you have something more than a papermill education and can discuss the subject intelligently.

In short- So what if Trump breaks the law, his hotels pay taxes.

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3 hours ago, SleepingGiantsFan said:

It took a whole FIVE words for you to resort to an ad hominem attack! :facepalm::rotflmfao::lol::thumbsup::cheer::rock::hahaha:

Why did you only use a partial quote?

Oh that's right because you need to take it out of context and of course you can't respond to any of the content because you are too fucking stupid.

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16 minutes ago, bluerules009 said:

Why did you only use a partial quote?

Oh that's right because you need to take it out of context and of course you can't respond to any of the content because you are too fucking stupid.

Man, I just registered on this forum 20 minutes ago and I can already see you're the board idiot.

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On 5/21/2019 at 5:40 PM, bluerules009 said:

You are too fucking stupid to even comment on taxes.  Let alone understand that i didn't even mention Trump and wasn't referring to him specifically in my post.

Trump hotels pays more property and personal property, inventory and business property taxes every year than you pay total in your entire lifetime.

Trump pays more employee taxes than you pay total in your entire lifetime.

Trump pays more corporate taxes each year  than you pay total in your entire lifetime.

Trump pays more room tax and sales tax each year  than you pay total in your entire lifetime.

That is even if he pays no personal income tax which he probably pays a lot most years.  That doesn't even count the fees, licences, and myriad of other taxes he pays each year.

 

Come back when you have something more than a papermill education and can discuss the subject intelligently.

Great, the companies his dad started for him pay taxes.  And?

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1 hour ago, bluerules009 said:

Why did you only use a partial quote?

Oh that's right because you need to take it out of context and of course you can't respond to any of the content because you are too fucking stupid.

How many ad homs is that now? A thousand? Two thousand? Five thousand? Since you use them in about half of your posts, it's probably closer to 12 thousand.

Boom goes the dynamite.

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