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Report Said Trump's Bank Was Being Subpoenaed

06 December 2017

A lawyer for U.S. President Donald Trump said on Tuesday that Deutsche Bank has not received any subpoena for financial records relating to the president or his family as part of the special counsel's Russian Federation probe.

"That they confirmed that the news reports that the special counsel had subpoenaed financial records relating to the president are completely false, no subpoena has been issued or received, we've confirmed this with the bank and other sources".

Reuters news agency and a German newspaper say a subpoena has been issued by Mr Mueller and sent to the Deutsche Bank (one of the Trump Organisation's major lenders) two weeks ago demanding details on Trump's transactions. "We have confirmed this with the bank and other sources".

Deutsche Bank for months has rebuffed calls by Democratic lawmakers to provide more transparency over the roughly $300 million Trump owed to the bank for his real estate dealings prior to becoming president.

Although limited in detail, the spending report offers the first insight into the scope and scale of Mueller's investigation, which has resulted so far in criminal charges against four people who worked on Trump's presidential campaign.

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During his election campaign, Trump said he would seek to improve ties with Russian President Vladimir Putin, which were strained during President Barack Obama's administration.

In July, Trump said in an interview with the New York Times that if Mueller examined his family's finances beyond any relationship with Russian Federation he'd consider it "a violation".

A source close to Deutsche Bank said the bank had run checks on Trump's financial dealings with Russian Federation.

Reports of the subpoena came after Mr Trump's former national security adviser, Michael Flynn, last week admitted he had lied to the FBI over his contact with Russia's ambassador and agreed to cooperate with Mr Mueller's investigation.

As Mueller's investigation unfolds, Trump has gone on the offensive.

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On Monday, as he left the White House for a trip to Utah, Trump restated his sympathy for Flynn and his assertion that prosecutors should have pursued action against his general election rival, Hillary Clinton.

Asked if delving into his and his family's finances unrelated to the Russian Federation probe would cross a red line, Trump replied, "I would say yeah".

A disclosure document posted on the US Office of Government Ethics website in June showed liabilities for Mr Trump of at least US$130 million (S$175.2 million) to Deutsche Bank Trust Company Americas.

According to a person familiar with the matter who spoke on the condition of anonymity, Manafort and his wife do not have Deutsche Bank accounts. "With two individuals having entered guilty pleas and two more facing federal charges, it's clear the investigation is moving forward".

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Report Said Trump's Bank Was Being Subpoenaed