Bank Executives Blocked From Reporting Trump’s Suspicious Transactions; POTUS’ Response Makes Him Look Worse

This does NOT look good for President Donald J. Totally Exonerated.


598
598 points

If you’ve been watching Donald Trump’s Twitter timeline this morning, you’ve seen what look like some pretty panicked tweets — he’s nervous about who his 2020 opponent is going to be, he’s afraid that people are going to finally see through the lacquer of his economic posturing and figure out who’s really paying for his monumentally stupid tariffs, and he is petrified that someone is going to get real, unfettered access to his financial records.

It’s that last part, however, that drove a tweetstorm this morning that lasted five entries long, each nearly maxed out at the character limit for the platform.

Loading...

The New York Times‘ recent report on Trump’s dealings with Deutsche Bank — the 15th-largest bank in the world by total assets — has got the President pretty riled up, not least because he knows that the bank is now finally handing over at least some documentation to federal and congressional investigators. But inside that NYT bombshell was a detail that serves to amplify his fears: On several occasions after Trump became President, software installed by the bank to flag certain activities as potential indicators of money laundering was set off by transactions in accounts belonging to both Trump and his son-in-law Jared Kushner.

That’s already enough to make the President sweat bullets.

Loading...


But the Times went deeper, interviewing employees at the bank, and what they came up with was a pattern of cover-ups at the behest of Trump that actually barred anti-fraud investigators inside the bank from reporting those suspicious transactions to the authorities.

The interviewees told reporters that after the bank’s software flags a transaction, the logged entry moves on to human eyes, who can better parse whether it’s actual abuse or something with a more innocent explanation. But the Trump/Kushner flags were so serious that the personnel at the bank reviewing them advanced to the next stage: Preparing SAR’s, or Suspicious Activity Reports, to be sent to the US Treasury.

Those reports never saw the light of day.

Perhaps that’s why Trump felt so comfortable this morning firing off his denials of any such activity — because he’s convinced that his security protocols within the bank will continue to ensure the higher-ups’ silence on his financial affairs. Trump’s tweets read like he was almost trying to convince himself that he’d done nothing wrong:

Loading...

Trump, of course, knows that records of his bank transactions exist, and further knows that his previous financial statements — you know, the ones that showed him losing more than a BILLION DOLLARS in just a decade in business — prove that he isn’t as flush with cash as he claims to be here. That’s why he’s compromised Treasury Secretary Steven Mnuchin into breaking the law and ignoring the congressional subpoena for his tax returns: He knows exactly what they’ll show.

Featured image is a screen capture.


Like it? Share with your friends!

598
598 points
Calum Stuart