New York attorney opens probe into Donald Trump business deals

Donald Trumps former lawyer testifies before the House Oversight and Reform Committee on Capitol Hill Feb. 27 2019 in Washington D.C

AP, EPA via Shutterstock

Neither the NY attorney general's office nor Trump representatives were available for comment early Tuesday.

New York's attorney general opened a new line of inquiry into President Donald Trump's business dealings, issuing subpoenas to Deutsche Bank AG and Investors Bank over loans for real-estate projects and a failed bid to buy the National Football League's Buffalo Bills, according to a person familiar with the matter.

Among the banks receiving subpoenas is Deutsche Bank, which has been among the very few willing to do business with Donald Trump. The New York Times first reported the existence of the investigation.

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The subpoenas issued by the attorney general seek loan applications, as well as mortgages, credit lines and other documents related to the Trump International Hotel in Washington, D.C., buildings in Chicago and NY and a golf course in the Miami area. It's unclear what penalties Trump could face, but the state attorney general does have the power to dissolve a business in court if her office finds evidence of illegality.

The newspaper said the new civil investigation into Deutsche was prompted by congressional testimony last month of Trump's former personal attorney Michael Cohen.

Investors Bank and the Trump Organization didn't immediately respond to requests for comment late Monday.

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Trump has said Cohen is lying to try to get out of a prison sentence for tax evasion, campaign finance violations, making false statements to banks and lying to Congress.

Deutsche Bank has also been fined in recent years for its involvement in Russian money-laundering schemes. Although the German lender's investment bank had severed ties with Trump during the financial crisis after he defaulted on a loan and then sued the bank, its wealth management unit continued to extend him credit. In 2017, Democrats on the House Financial Services Committee asked for results of a review the bank reportedly took of accounts held by Mr. Trump and members of his family to see if there were any connections to the Russian government, in relation to several governmental probes into Russian interference in the 2016 election.

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