“Deutsche Bank has begun the process of providing financial records to New York state’s attorney general in response to a subpoena for documents related to loans made to President Donald Trump and his business, according to a person familiar with the production,” the report said.
The move comes after the New York attorney general requested the information in March. According to Trump’s former “fixer” Michael Cohen, the president falsified financial information when applying for loans from the international bank. At the time, Trump had hoped to buy the NFL team the Buffalo Bills.
According to public records, Trump has borrowed at least $300 million from Deutsche Bank and it has prompted the House Financial Services and Intelligence committees to look into the complicated financial information of the self-described “billionaire.” A Washington Post report about Trump’s financial documents revealed the president heavily embellished his financial information, claiming Trump Tower was several stories taller and his winery was at least 100 acres larger. It’s unclear why the bank was willing to give loans based on obviously false information.
Read the full report here.