Deutsche Bank’s $285 Million Loan To Jared Kushner Just One Of Many For Trump Family

[CPUd]

Deutsche Bank’s $285 Million Loan To Jared Kushner Just One Of Many For Trump Family
BY GREG PRICE ON 6/26/17 AT 10:38 AM


White House senior adviser and real estate titan Jared Kushner reportedly had a $285 million loan from German institution Deutsche Bank approved one month before his father-in-law’s Election Day victory last year, the Washington Post reported Sunday. The massive loan went to Kushner’s family-run real estate company, but the story also states that Kushner personally guaranteed the loan and he opted not to include it on his financial disclosure form with the Office of Government Ethics.

Given the size, the time it was granted—as Kushner worked both for President Donald Trump’s campaign and his company—and Kushner’s decision not to disclose, the loan is reigniting questions about whether the Trump family's businesses represent a conflict of interest.

Additionally, the loan is just the latest revelation of Trump’s extended links to Deutsche Bank and contributes to the allegations about the president's purported ties to Russia, both financially and politically.

Kushner, Trump, Ivanka Trump and Kushner's mother are all clients of the bank. House Democrats have approached Deutsche and asked for information regarding its business with the president and whether loans given to the billionaire real estate mogul were possibly guaranteed by Russia, The Guardian reported last week. The Democrats were stymied by Deutsche, which claimed U.S. laws hindered it from sharing client information with governments, an assertion Democrats claimed was a misrepresentation of the law.

Trump’s released his financial disclosure form June 16 and it revealed just how large his debt to Deutsche and others is. The president has $315.6 million worth of liabilities to German, U.S. and various other lenders, $130 million of which is owed to Deutsch Bank Trust Company Americas, the U.S. arm of Deutsche Bank AG, Reuters reported. Trump made a minimum of $594 million in 2016 and his assets were worth at least $1.4 billion, according to the forms.

Trump’s self-titled and family-run organization has properties and links all across the globe, so the fact that he has outstanding debt with a foreign entity doesn’t necessarily mean anything. But Deutsche’s recent scandal involving Russia does. In January, Deutsche had agreed to pay $630 million worth of fines for running a “mirror trading” scheme that brought in $10 billion from Russia.

And in December, Bloomberg reported that Trump was attempting to restructure his debts in discussions with Deutsche in order to remove any potential conflicts of interest.

The White House said in a statement to The Post that Kushner would recuse himself from any matter involving Germany’s largest bank, while a lawyer representing Kushner stated he wasn’t required to disclose the loan because the ethics office “clearly states that filers do not have to disclose as a liability a loan on which they have made a guarantee unless they have a present obligation to repay the loan.”
http://www.newsweek.com/deutsche-kushner-trump-628993

[juleswin]

Isn't Jared Kushner's dad a multi multi billionaire? why is he borrowing millions from a bank? I would assume he would get a better deal from daddy than from a bank.

[CPUd]

Isn't Jared Kushner's dad a multi multi billionaire? why is he borrowing millions from a bank? I would assume he would get a better deal from daddy than from a bank.

His dad is locked up.

[NorthCarolinaLiberty]

http://bestanimations.com/Animals/Mammals/Cats/Lions/lion-gif-animation-7.gif

[CPUd]

http://i.imgur.com/NyFiXj8.jpg

[NorthCarolinaLiberty]

http://i.imgur.com/NyFiXj8.jpg



https://static.vecteezy.com/system/resources/previews/000/056/105/non_2x/dollar-sign-vector.jpg

[CPUd]

875493479094341632
https://twitter.com/PepperGii/status/875493479094341632

[CaptUSA]

Isn't Jared Kushner's dad a multi multi billionaire? why is he borrowing millions from a bank? I would assume he would get a better deal from daddy than from a bank.

You have to understand how this works... You don't use your own money - that's pointless. Your borrow as much as they'll let you borrow at the lowest rate you can get, put it to use on some investment that earns more APR than your bank rate, and you collect the difference. Easy peasy lemon-squeezy.

[CPUd]

https://www.youtube.com/watch?v=U45f-R0udac

[jllundqu]

So..... the Germans are coming?

[enhanced_deficit]

While it's true that various Kushner deals smell of nepotism or political opportunism that should be examined. But after reading couple of critical opinions online, some of the criticism could also be motivated by anti-semitism towards Trump family.. that should be discouraged.

[Brian4Liberty]

No doubt the Democrats want this investigated as part of "Russia hacking the US election" special prosecutor...

While a strong case can be made that this is out of scope of the intended investigation, Kushner, or any wealthy "business" person would find themselves indictable on some technicality. What are we at these days? Three felonies a day for the average person? And they could indict a ham sandwich if they actually want to. Easy pickings.

[oyarde]

So..... the Germans are coming?

I am getting ready for them .

[NorthCarolinaLiberty]

How long before a German loan gets tied in with Don boy being Hitler? Prolly not long the way progressive wackos are going.

[CPUd]

http://i.imgur.com/3P4lVUF.jpg

[Danke]

How long before a German loan gets tied in with Don boy being Hitler? Prolly not long the way progressive wackos are going.



https://www.youtube.com/watch?v=oVK3y4MmVa4

[CPUd]

Deutsche Bank Fined $41 Million for Money-Laundering Lapses
By Jesse Hamilton and Steven Arons
May 30, 2017, 3:30 PM CDT May 31, 2017, 3:07 AM CDT

Deutsche Bank AG agreed to pay $41 million to settle Federal Reserve allegations that its U.S. operations failed to maintain adequate protections against money laundering, the latest in a string of fines that have cost the German lender billions of dollars.

The Frankfurt-based bank’s U.S. operations fell short in complying with the Bank Secrecy Act, which requires lenders to help federal agencies prevent illegal transactions, the Fed said in a brief Tuesday statement. The regulator imposed a cease-and-desist order on Deutsche Bank that requires it to address “unsafe and unsound practices.” The bank also agreed to improve its controls and boost oversight of senior management.

“We are committed to implementing every remediation measure referenced in the Fed’s order and to meeting their expectations,” Deutsche Bank said in an emailed statement.

The fine is within the lender’s expectations, a person briefed on the matter said, suggesting it’s covered by legal provisions that stood at 3.2 billion euros ($3.6 billion) at the end of March. Chief Executive Officer John Cryan has spent almost two years navigating probes, culminating in a $7.2 billion mortgage-bond settlement with the U.S. government in January. Cryan is now focusing on restoring revenue growth after raising $8.5 billion from investors in April to replenish capital eroded by fines.

Deutsche Bank fell 1.1 percent to 15.96 euros at 10:05 a.m. in Frankfurt trading, cutting gains in the past six months to 20 percent.


Multiple Investigations

The bank’s insufficient monitoring involved billions of dollars in “potentially suspicious transactions” processed between 2011 and 2015, the Fed said. The transactions involved affiliates in Europe that failed to provide “accurate and complete information,” the regulator said.

While the Fed didn’t disclose any specific transactions that were improper, Deutsche Bank has faced multiple investigations by various regulators into whether it allowed customers to engage in illicit trades. Deutsche Bank has recently reached settlements with the U.K. and New York State’s Department of Financial Services over trades that allegedly helped wealthy Russians move some $10 billion out of the country.

The settlements involved what are known as mirror trades, in which bankers purchased Russian stocks in rubles while selling the same amount of shares in London. The trades effectively converted rubles to dollars, and the cash flowed from the U.K. through Cyprus, Estonia and the U.S., investigators say. The deficiencies cited by the Fed include controls over transactions like mirror trades, said one person with knowledge of the matter.

In its settlement with the Fed, Deutsche Bank agreed to enlist an outside monitor to review transactions with international banks in the second half of 2016 -- a time frame that could expand depending on the monitor’s findings. The bank also agreed for the outside monitor to review its compliance with anti-money laundering laws.

The bank recently unveiled a drive to add 400 new people to its anti-money laundering unit this year, overseen by Chief Regulatory Officer Sylvie Matherat, which would boost the staff level by about 50 percent.

A settlement on the Russian mirror trades with the U.S. Department of Justice is still outstanding.
https://www.bloomberg.com/news/articles/2017-05-30/deutsche-bank-pays-41-million-fine-for-money-laundering-faults

[timosman]

You have to understand how this works... You don't use your own money - that's pointless. Your borrow as much as they'll let you borrow at the lowest rate you can get, put it to use on some investment that earns more APR than your bank rate, and you collect the difference. Easy peasy lemon-squeezy.

There are two kinds of people: those with access to cheap credit and those without.

[jllundqu]

https://www.youtube.com/watch?v=oVK3y4MmVa4

WTF did I just watch?

[FSP-Rebel]

Is this just a copy/paste from Bernie's facebook feed? Has all the trappings.

[CPUd]

Jared Kushner finalized $285 million 'bad boy' loan with Deutsche Bank a month before Trump's election
12:56 a.m. ET

Jared Kushner, President Trump's son-in-law and senior adviser, secured a $285 million loan from Deutsche Bank, Trump's biggest known lender and at the time under investigation for allegedly allowing Russian money laundering, in October 2016, a month before Trump's election, The Washington Post reports. The Kushner loan was part of a refinancing deal for four retail floors of the former New York Times building off Times Square in Manhattan, and Kushner did not list the loan or his personal guarantee for the debt on his financial disclosure form filed with the Office of Government Ethics; a lawyer for Kushner said he was not obligated to disclose the loan.

Kushner purchased the four retail floors of the building for a reported $296 million in October 2015 from the family of an Uzbek-born Israeli billionaire named Lev Leviev, who is a vocal admirer of Russian President Vladimir Putin and once aspired to work with Trump on real estate deals in Moscow. Kushner filled the largely empty floors with retailers, and the October 2016 deal also included an $85 million loan from SL Green Realty, giving Kushner's business $74 million more than he paid for the retail space.

Kushner and his brother, Joshua, are listed as guarantors on the Deutsche Bank loan under what was termed a "nonrecourse carve-out," commonly known as a "bad boy" clause, the Post explains. "The way to look at this is, so long as you're not a 'bad boy' and don't do anything wrong, you have nothing to worry about," James Schwarz, a real estate lawyer who is an expert in such clauses, tells the Post. "To the extent you would do something fraudulent, then you have things to worry about" — namely personally being on the hook for millions of dollars. Separately, Kushner and his mother have a personal line of credit worth up to $25 million from Deutsche Bank, the Post notes.

In December, Deutsche Bank paid $7.2 billion to settle U.S. charges related to fraud packaging residential mortgages, and in January it paid a $425 million fine to New York State to settle charges that it did not track large money transfers from Russia. The White House told the Post that Kushner "will recuse from any particular matter involving specific parties in which Deutsche Bank is a party." You can read more at The Washington Post. Peter Weber

http://theweek.com/speedreads/708223/jared-kushner-finalized-285-million-bad-boy-loan-deutsche-bank-month-before-trumps-election

[NorthCarolinaLiberty]

WTF did I just watch?


Yeah, I wondered about that. Looks like a movie where Hitler is resurrected in the 21st century.

[enhanced_deficit]

Isn't Jared Kushner's dad a multi multi billionaire? why is he borrowing millions from a bank? I would assume he would get a better deal from daddy than from a bank.

They are reportedly worried now that Mueller driven Russiagate is turning into money laundering gate.

[timosman]

They are reportedly worried now that Mueller driven Russiagate is turning into money laundering gate.

New books about economy will have to be written.:cool: