The New York Times has confirmed that Deutsche Bank, the longtime bank of Donald Trump and his company, has been subpoenaed for Trump’s financial records in a wide-ranging investigation led by the Manhattan District Attorney’s office.
Deutsche Bank posted a tweet after the Supreme Court ruled against Trump in the Mazar’s case last month, saying that the accounting firm had to turn over subpoenaed information because the president did not enjoy “absolute immunity,” as Trump claimed.
Statement on today's Supreme Court opinion pic.twitter.com/JDpdwlQEHp
— Deutsche Bank (@DeutscheBank) July 9, 2020
That tweet led to speculation that Deutsche Bank would not further fight any court orders or subpoena in the Trump case.
Trump’s dealings with Deutsche Bank have come under scrutiny because the German bank loaned Trump hundreds of millions of dollars when other financial institutions found Trump to be a poor risk.
There is evidence that Trump may have submitted fraudulent financial statements to secure loans from the bank, including inflating the value of properties and exaggerating his financial interests in enterprises.
Deutsche Bank has also been connected to efforts to launder Russian money, as recently as 2019.