Trump's Private Bankers Resign

They helped arrange $330M in Deutsche Bank loans
By Rob Quinn,  Newser Staff
Posted Dec 22, 2020 7:18 PM CST
Trump's Private Bankers Resign
Dark clouds cover the sky over the headquarter of Deutsche Bank in Frankfurt, Germany.   (AP Photo/Michael Probst)

This time next month, President Trump will be a private citizen—but he won't have the same private bankers. Deutsche Bank announced Tuesday that two employees in charge of lending to Trump and Jared Kushner have resigned, the Hill reports. "Rosemary Vrablic and Dominic Scalzi have tendered their resignations to Deutsche Bank effective as of year-end, which was accepted by the bank," bank spokesman Daniel Hunter said in a statement. The New York Times notes that Deutsche Bank is Trump's main financial backer and his contacts are leaving at a "perilous time": He owes Deutsche Bank $330 million and the loans are due to be repaid in 2023 and 2024.

The Manhattan District Attorney's office and the New York Attorney General's office have both subpoenaed Deutsche Bank as part of their investigations of the Trump Organization, reports CNN. Prosecutors suspect Trump may have inflated the value of some the company's real estate and other assets when seeking loans from the bank. In August, Deutsche Bank opened an internal review of a 2013 real estate transaction between Vrablic, Scalzi, and Bergel 715 Associates, a company part-owned by Kushner, the Times reports. At the time they bought a $1.5 million Manhattan apartment from the company, the bank had already loaned Trump and Kushner around $190 million. (More President Trump stories.)

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