Not in today’s update because it’s not clear there’s a direct link to Trump, but…
The Frankfurt headquarters of Deutsche Bank have been raided by prosecutors in a money laundering investigation. (BBC)
The investigation stems from information contained in the so-called Panama Papers and Offshore Leaks, a trove of confidential documents that helped to expose the workings of global money laundering and tax evasion, prosecutors said. (New York Times)
In recent years, Deutsche Bank has been in the news not only for its prominence in the Panama Papers, but also for its ties to President Trump, in a tumultuous relationship that goes back some 20 years. (NPR)
…which brings us to the following timeline:
Day 320: Robert Mueller issued a subpoena for the banking records of people affiliated with Trump. The move forced Deutsche Bank – Trump’s biggest lender – to turn over documents related to certain credit transactions and the $300 million Trump owes the lender. Legal experts said it showed Mueller was “following the money” in search of links between the campaign and the Kremlin since Deutsche Bank may have sold some of Trump’s mortgage or loans to Russian-owned banks, which could potentially give Russia leverage over Trump. Jay Sekulow, one of Trump’s personal lawyers, denied that a subpoena had been issued. Since 1998, Deutsche has helped loan at least $2.5 billion to companies affiliated with Trump, which he used to build or purchase highest-profile projects in Washington, New York, Chicago and Florida. (The Guardian / Bloomberg / Reuters / Wall Street Journal)
Day 341: Federal prosecutors subpoenaed Deutsche Bank for records related to Jared Kushner’s family real estate business. The bank has lent the family hundreds of millions of dollars. (New York Times / Wall Street Journal)
Day 356: The Trump administration waived fines for Deutsche Bank and four other multinational banks convicted of manipulating global interest rates. Trump owes Deutsche at least $130 million in loans that were originally worth $300 million. The German bank was also fined $425 million by New York State for laundering $10 billion out of Russia. (International Business Times / USA Today)
Day 368: Deutsche Bank reported “suspicious transactions” related to Kushner family accounts to German banking regulators. The bank also said it was willing to provide the information to special counsel Robert Mueller’s team of investigators. (Mother Jones)
Day 447: Trump tried to fire Robert Mueller in December after incomplete news reports surfaced that subpoenas coming from Mueller’s probe were targeting his business dealings with Deutsche Bank. To Trump, the subpoenas suggested that the investigation had expanded beyond his “red line.” Trump backed down after his lawyers and advisers assured him that the reports were not accurate. (New York Times)
Day 526: Justice Anthony Kennedy’s son, Justin, worked at Deutsche Bank for more than a decade, helping loan Trump more than $1 billion at a time when other banks wouldn’t. Since 1998, Deutsche has helped loan Trump at least $2.5 billion, of which at least $130 million is still owed to the bank. In 2017, Deutsche Bank AG agreed to pay $425 million to New York’s banking regulator over a money laundering scheme that helped Russian investors move $10 billion out of Russia. Trump later waived the fines for the bank after Robert Mueller issued a subpoena to Deutsche for the banking records of people affiliated with him. Following Trump’s first address to Congress in February 2017, he stopped to tell Justice Kennedy: “Say hello to your boy. Special guy.” (New York Times)