621x74.gif

China Daily

News> World> Content
Tuesday, April 16, 2019, 10:59
Trump probe: House panels issue subpoenas to Deutsche Bank, others
By Reuters
Tuesday, April 16, 2019, 10:59 By Reuters

In this May 18, 2017 photo, the logo of the German company Deutsche Bank is pictured during the company's annual shareholder meeting in Frankfurt, Germany. (DANIEL ROLAND / AFP)

WASHINGTON — Two US House of Representatives committees have issued subpoenas to multiple financial institutions, including Deutsche Bank AG, for information on President Donald Trump's finances, the panels' Democratic leaders said on Monday.

A 2018 financial disclosure form showed liabilities for Trump of at least US$130m to Deutsche Bank Trust Company Americas

“The potential use of the US financial system for illicit purposes is a very serious concern. The Financial Services Committee is exploring these matters, including as they may involve the president and his associates, as thoroughly as possible," the committee's chair, Maxine Waters, said in a statement.

House Intelligence Committee Chairman Adam Schiff said in a statement the subpoenas issued included a "friendly subpoena to Deutsche Bank."

A 2018 financial disclosure form showed liabilities for Trump of at least US$130 million to Deutsche Bank Trust Company Americas, a unit of the German bank. They are for properties including the Trump International Hotel in a former post office in Washington.

ALSO READ: Deutsche Bank rejects call for Trump finance details

Deutsche Bank said in January, shortly after Democrats took control of the House following the November elections, that it had received an inquiry from the two committees on its ties to the Republican president.

Schiff said Deutsche bank had been cooperative. "We look forward to their continued cooperation and compliance," he said.

Kerrie McHugh, a Deutsche Bank spokeswoman, said the bank was engaged in a "productive dialogue" with the two committees.

"We remain committed to providing appropriate information to all authorized investigations in a manner consistent with our legal obligations," she said in an emailed statement.

READ MORE: Attorney: Mueller team floated possible subpoena for Trump

The New York Times, which first reported the committees' actions on Monday, said Citi group Inc, JP Morgan Chase & Co and Bank of America Corp had also received subpoenas.

Trump lawyers did not immediately respond to requests for comment.

Share this story

CHINA DAILY
HONG KONG NEWS
OPEN
Please click in the upper right corner to open it in your browser !