Deutsche Bank identified ‘suspicious transactions’ related to Kushner Cos. accounts: report

Deutsche Bank identified ‘suspicious transactions’ related to Kushner Cos. accounts: report

Sunday, January 21, 2018

(Credit: left photo by Executive Office of the President of the United States; right photo by Lori Berkowitz/Flickr; back photo by Björn Láczay/Flickr)

From TRD NYC: A prominent German business magazine is reporting that Deutsche Bank identified “suspicious transactions” related to Kushner Companies and reported them to banking regulators in Germany. According to the translation of the Manager Magazin report in Mother Jones, Deutsche Bank is willing to hand over that information to Special Counsel Robert Mueller, whose team is reportedly investigating the finances and business dealings of Jared Kushner, former CEO of the firm.

“Achleitner’s internal detectives were embarrassed to deliver their interim report regarding real estate tycoon [Jared] Kushner to the financial regulator BaFin,” the Manager Magazin article states, according to Mother Jones’ translation. “Their finding: There are indications that Donald Trump’s son-in-law or persons or companies close to him could have channeled suspicious monies through Deutsche Bank as part of their business dealings.”

In December, the New York Times reported that the U.S. Attorney’s office in Brooklyn subpoenaed Deutsche Bank records concerning entities tied to the development firm.

The bank is a lender on Kushner Companies’ retail condominium at the old New York Times Building. When the company landed the $285 million loan from the bank in 2016 to refinance the property, underwriters estimated that the retail space would generate $24 million annually when fully occupied, according to a new report from Bloomberg. Operating costs and interest payments amount to about $22 million annually, according to the publication.

Source: The Real Deal