May 19, 2019

IT'S A RICO CASE:

Deutsche Bank Staff Saw Suspicious Activity in Trump and Kushner Accounts (David Enrich, May 19, 2019, NY Times)

 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. [...]

[F]ormer Deutsche Bank employees said the decision not to report the Trump and Kushner transactions reflected the bank's generally lax approach to money laundering laws. 

Posted by at May 19, 2019 2:18 PM

  

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