NY Attorney General Targets Trump Organization Projects and Failed Effort to Buy Buffalo Bills
When Letitia James won the election as NY’s Attorney General, she said, “We will use every area of the law to investigate President Trump and his business transactions and that of his family as well.” She was not kidding. Her office this week issued subpoenas to Deutsche Bank and Investors Bank for records relating to the financing of four major Trump Organization projects and a failed effort to buy the Buffalo Bills of the National Football League in 2014, according to a person briefed on the subpoenas. The inquiry opens a new front in the scrutiny of Deutsche Bank, one of the few lenders willing to do business with Donald Trump in recent years. The bank is already the subject of two congressional investigations. Regular Beat readers will recall Congresswoman Maxine Waters (D-CA), Chair of the House Financial Services Committee, has been eyeing Trump’s relationship with Deutsche Bank for quite a while. She recently brought on board an investigator who oversaw the Senate’s probes into Goldman Sachs, JPMorgan Chase, and HSBC, and has extensive insight into money laundering issues and international banks and their regulators. James, who is the first Black woman to hold the position, was prompted by the congressional testimony last month of Michael Cohen who testified under oath that Trump had inflated his assets in financial statements -- and POTUS45’s former personal lawyer brought receipts. He provided copies of statements he said had been submitted to Deutsche Bank. Though James’ inquiry is civil and not a criminal, the NY Attorney General has broad authority under state law to investigate fraud and can fine -- or in extreme cases, go to court to try to dissolve -- a business that is found to have engaged in repeated illegality. More here.