Published: Thu, March 14, 2019
Worldwide | By Angelina Lucas

NY AG Office Files Subpoenas Seeking Trump Organization's Records

NY AG Office Files Subpoenas Seeking Trump Organization's Records

During his testimony before Congress, former Trump fixer Michael Cohen said that Trump gave false financial statements to Deutsche Bank.

Deutsche Bank, which couldn't be reached late Monday night for comment, previously has cooperated with other Trump-related inquiries, including a year ago when called on by NY bank regulators. James' predecessors sued Trump over the operations of Trump University, his real estate school. That case is pending.

"New York State and its Governor, Andrew Cuomo, are now proud members of the group of PRESIDENTIAL HARASSERS", Trump wrote on Twitter, alluding to the subpoena from AG Letitia James.

The request to Deutsche Bank sought loan applications, mortgages, lines of credit and other financing transactions in connection with the Trump International Hotel in Washington, the Trump National Doral outside Miami, and the Trump International Hotel and Tower in Chicago, the New York Times reported the person as saying. Deutsche Bank has been known to have backed a number of Trump Organization projects in the past, including lending $100 million for the Doral and $170 million for the D.C. hotel.

In May, five Democratic members of the House of Representatives sent a letter to Deutsche Bank CEO John Cryan asking the bank to turn in any records relating to Trump's accounts and any ties to Russian Federation. A Hong Kong-based representative for Deutsche Bank was unable to provide an immediate comment Tuesday. Trump Organization spokeswoman Amanda Miller didn't immediately respond to a request for comment. Before she took office, James vowed to investigate Trump and his business deals.

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House Democrats are also probing Trump's ties with Deutsche Bank, one of the few institutions to lend to Trump after a series of bankruptcies in the 1990s.

During his testimony in Washington, Cohen produced documents to back up some of his claims - including an alleged hush-money check signed by Trump and a financial statement that Cohen said was fraudulent.

Trump's former lawyer Michael Cohen told Congress in late February that the president exaggerated his wealth on financial statements provided to Deutsche Bank when he was trying to obtain financing to buy the Bills. He said Trump was aware that his company also submitted phony valuations to insurance companies to reduce premiums.

Mr Cohen told a House committee it was common for Mr Trump to overstate his wealth when dealing with the news media or banks, but understate it when it came time to pay his taxes.

Separately, the bank's loans to Trump are now being probed by the Democrat-controlled House Intelligence Committee and Financial Services Committee.

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