Trump's Deutsche Bank Records Subpoenaed by Mueller

12/05/17 08:37 AM EST
By Jenny Strasburg 

Deutsche Bank AG received a subpoena earlier in the fall from U.S. special counsel Robert Mueller's office related to the lender's business with President Donald Trump, according to a person briefed on the matter.

The subpoena requested documents and data about accounts and other dealings tied to client relationships with Mr. Trump and people close to him, the person said. The bank has lent more than $300 million to entities affiliated with Mr. Trump, according to public disclosures.

Mr. Mueller is investigating Russian meddling in the 2016 election, including flows of cash tied to Russia and people in Mr. Trump's orbit, in a deepening probe that has led to charges against former advisers to Mr. Trump.

A Deutsche Bank spokesman said Tuesday that the bank "cooperates with investigative authorities." The subpoena was earlier reported by Handelsblatt.

Mr. Trump has called the special counsel's investigation a "witch hunt," and Moscow has denied meddling in the election. A White House spokeswoman didn't immediately respond to a request for comment Tuesday morning.

Deutsche Bank executives and lawyers had been expecting a demand for information from Mr. Mueller's team as the special counsel investigation progressed, according to people close to the bank. As Mr. Trump's primary lender in recent years, Deutsche Bank this year faced repeated document requests from Democratic lawmakers scrutinizing the administration's ties to Russia.

The Democrats lacked Republican support to compel Deutsche Bank to provide the information. Deutsche Bank lawyers have said U.S. bank-secrecy rules prohibited the lender from revealing details about its clients or their business with the bank without a subpoena or other formal request from Congress.

Deutsche Bank faces ongoing questions about a series of Russian trades that have been scrutinized in multiple investigations in the U.S. and Europe, including in a still-pending U.S. Justice Department probe. The Democratic U.S. lawmakers wanted the bank to detail any ties between those trades or other Russian financing and anyone connected to Mr. Trump, his family or advisers.

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(END) Dow Jones Newswires

December 05, 2017 08:37 ET (13:37 GMT)

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