The criminally convicted German bank who lent Trump’s son-in-law $285 million just turned over numerous suspicious activity reports (SAR) about Jared Kushner’s accounts to that country’s banking regulators.
Special Counsel Mueller will likely obtain copies of those records for his ongoing criminal probe from BaFin, the German banking regulator.
White House advisor Jared Kushner obtained the massive real estate loan against Manhattan retail property only days before the 2016 election from Deutsche Bank. The bank’s revelations to Manager Magazin, a German business magazine, reveals that they found and reported suspected money laundering in the Kushner family’s accounts. Mother Jones’ Russ Choma reports:
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Paul Achleitner, chairman of Deutsche Bank’s board, had the bank conduct an internal investigation and the results were troubling. Those results have been turned over to the Federal Financial Supervisory Authority—Germany’s bank regulatory agency, which is commonly known as BaFin.
“Achleitner’s internal detectives were embarrassed to deliver their interim report regarding real estate tycoon [Jared] Kushner to the financial regulator BaFin,” the Manager Magazin article, translated from German, reports. “Their finding: There are indications that Donald Trump’s son-in-law or persons or companies close to him could have channeled suspicious monies through Deutsche Bank as part of their business dealings.”
“But what BaFin will do about [the bank’s findings] is not the bank’s greatest concern,” the article states. “Rather, it’s the noise that US special counsel Robert Mueller (73) will make in his pursuit of Trump. For he will likely obtain this information—a giant risk to [the bank’s] reputation.”
Not only has Jared Kushner’s lender filed suspicious activity reports against Kushner’s accounts, but his management problems – ironically due to a very prominent restaurant failure by a reality TV star and having a pie in the sky tourist trap as tenants – are threatening the financial viability of the deal.
Kushner’s company purchased a prominently located Times Square retail property for $296 million and as part of his cash out refinance with Deutsche Bank; he got a very special second mortgage for a total of $74 million more than the property had cost. If that reminds you of bubble economics, then you’re right.
The senior White House advisor also has a personal line of credit from Deutsche Bank for $25 million dollars.
At the time of Kushner’s Times Square loan, he was advising his father in law was running for president, and Deutsche Bank was facing a multi-billion dollar fine from the federal government for their role causing the 2008 real estate crash.
The feds ultimately settled with the bank for 50 cents on the dollar as their client Trump – who also owes a $300 million sum personally to the bank – was just about to be inaugurated in the start of 2017.
Then, at the end of 2017, the Trump Administration gave Deutsche Bank a free pass to keep handling American retirement funds under virtually the cover of night, even though they have been convicted of financial crimes.
Today’s report indicates that there is a severe potential of Jared Kushner being caught laundering money at a foreign bank convicted of other multiple significant crimes like manipulating interest rates that impact credit card and mortgage rates or illicitly laundering billions of Russian cash.
The relationship between that bank, Donald Trump, and Jared Kushner is already a major appearance of a conflict of interest for both men that has cost American taxpayers money and placed our country’s savers at risk to help the German bank.
Now, Special Counsel Mueller will have the critical details about Kushner’s relationship with Deutsche Bank that the New York Times reported last month, which he was demanding.