Trump Goes off on NY Times Report on Deutsche Bank Money Laundering Concerns: ‘I Didn’t Need Money’


President Donald Trump pushed back hard on a damning weekend New York Times report that claimed that officials at Deutsche Bank had alerted executives about what they called suspicious activities consistent with money-laundering associated with Trump and Jared Kushner banking accounts.

Trump pushed back in a five-part tweet storm that opened with the familiar insult of the “Failing New York Times” writing “phony stories.” He then claimed that the reason he didn’t use many banks was not that they wouldn’t do business with him (which has been widely reported) but that he “didn’t need money.”

The NY Times report opens:

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.

Writer David Enrich reporters later in the piece that Trump’s two-decade relationship with Deutsche Bank occurred “during a period when most Wall Street banks had stopped doing business with him after his repeated defaults, Deutsche Bank lent Mr. Trump and his companies a total of more than $2.5 billion.”

Odd that the money laundering claim was not what set Trump off but instead the report that Wall Street banks had shut him out. Trump tweeted:

Roughly 10 minutes after posting this twitter thread, Trump then followed with a clarification that two tweets were missing, but that there was “no time for a redo!”

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