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Trump Org Reportedly Seeking Debt Help From Deutsche As Bank Is Probed By DOJ

Former White House ethics chief Walter Shaub called it the “absolute nightmare” he has warned against.

04/04/2020 09:24 am ET
By Mary Papenfuss

In another tangled ethics situation for Donald Trump, the president’s Trump Organization is reportedly asking to postpone its loan payments to Deutsche Bank — which is being investigated by the Department of Justice to determine if it complied with anti-money laundering regulations.

The situation highlights the unique power of Trump as president to maneuver a deal for his business hurt by the COVID-19 crisis, particularly with a bank under investigation by his own administration.

Trump did not divest from his businesses when he moved into the White House as other presidents have done to avoid conflicts of interest. The current scenario is the “absolute nightmare that someone (ahem) warned about” when Trump took office, tweeted Walter Shaub, the former head of the U.S. Office of Government Ethics under both Barack Obama and Trump.

David Enrich
@davidenrich
·
Apr 2
Exclusive: The Trump Organization is looking for financial help from @DeutscheBank
and Palm Beach County in Florida, according to sources and documents reviewed by @nytimes
. with @benprotess
@EricLiptonNYT

Deutsche Bank execs have been worried about a scenario like this for years. They told me they’ve feared the choice of angering @realDonaldTrump vs. giving a very lucrative financial gift to the president. Both options are ugly. pic.twitter.com/YCbCzESXFJ

— David Enrich (@davidenrich) April 2, 2020

[...]

https://www.huffpost.com/entry/deutsche-bank-trump-debt-help-coronavirus-conflict-of-interest_n_5e87ee89c5b6cc1e47758499