Axios' Jonathan Swan reports that President Donald Trump is facing a "nightmare" situation if Deutsche Bank is really cooperating with investigators at the New York Attorney General's office.
Although Swan has been unable to independently confirm reports that the German bank has started handing over financial records to the New York A.G., he writes that such a situation would be absolutely perilous for Trump's legal situation.
"If New York officials succeed in getting Trump financial records, it will trouble Trumpworld far more than any congressional fight," he writes.
A major report from the New York Times last month found that executives at Deutsche Bank saw major “red flags” surrounding President Donald Trump’s financial dealings — but they kept funding him anyway, in part because he helped bring prestige to their institution.
Among other things, Deutsche Bank employees flagged Trump for “wild” exaggerations of his personal wealth, as well as “a promised loan that relied on a banker’s forged signature.”
The report also claimed that Trump and former "fixer" Michael Cohen together convinced Deutsche Bank to vastly overstate Trump’s personal wealth in financial statements given to the National Football League, which sought assurances that Trump had the kind of financial clout needed to pull off a $1 billion deal to buy the Buffalo Bills franchise.