For the past 10 years, Deutsche Bank has been Donald Trump's banking bestie, loaning him more than $400 million as he developed a Miami golf resort, a tower in Chicago, and a luxury hotel in the heart of Washington, DC.
Deutsche Bank in New York, left, and former President Donald Trump at a rally in Minden, Nev., Saturday, Oct. 8, 2022.Deutsche Bank, Trump's largest single lender, forced him into a 'managed exit' last year.As Deutsche Bank threatened default, Trump zeroed out hundreds of millions in debt.
On the surface, the slow-motion split, which began 21 months ago, appears to be a breezy affair, with Trump easily zeroing out all but $45 million in Deutsche Bank debt in May."By the way, I paid them back," Trump would brag on Fox News the night after James filed, accusing the former president of inflating his net worth in financial documents by billions of dollars.
But what the attorney general began alleging, in publicly-filed court papers two summers ago, were exaggerations that no Trump haircut could make pretty. An excerpt from Deutsche Bank's October 29, 2020 letter to Donald Trump, Jr., raising concerns about Donald Trump's allegedly fraudulent financial statements."Your prompt attention to these matters is appreciated," the bank's head of private wealth management, Greg Khost, politely told Donald Trump, Jr.
"That said, we are unaware of anything that would require us to respond to an inquiry of this nature. If you are aware of any authority to the contrary, please let us know," he ended the letter, signing off with a cordial, "we wish you a Happy Holiday season."It's unknown if Trump himself was told of Deutsche Bank's concerns at this point.
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