Deutsche Bank Ignored Potential Illicit Activity in Trump, Kushner Accounts: Report

A former anti-fraud specialist dealing with money laundering for Deutsche Bank told the New York Times that alarm bells went off over certain transactions in accounts under the control of both Donald Trump and his son-in-law Jared Kushner. The former employee Tammy McFadden and five others told the Times that the transactions set off alerts in a computer system designed to spot illegal activity. Staff members then prepared reports that were intended for the Treasury Department arm that polices financial crimes, but executives at the bank rejected the advice and the reports were never filed, according to five employees interviewed by the paper. “You present them with everything, and you give them a recommendation, and nothing happens,” McFadden, who was terminated for questioning the bank’s practices. “It’s the D.B. way. They are prone to discounting everything.” In April, the Trump Organization sued Deutsche Bank and others to prevent them from answering congressional subpoenas.