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Prosecutors subpoena Deutsche Bank on Trump investigation

An investigation into president Trump’s business practices could be more wide-ranging than previously known, The New York Times reported on Wednesday, as prosecutors in New York were said to have subpoenaed his longtime lender, Deutsche Bank, to provide evidence. 

The prosecutors issued the subpoena last year, seeking financial records that the Republican president and his company had provided to the bank, the Times said, citing four unnamed people.

The office of Manhattan District Attorney Cyrus Vance declined to confirm or deny the report, whilst New York attorney general Letitia James announced overnight that she would make a major national announcement on Thursday, causing further speculation. 

The Times said Deutsche Bank complied with the subpoena and provided prosecutors with “detailed records, including financial statements and other materials” that Mr Trump had provided to the bank as he sought loans.

Ms Vance, a Democrat, this week suggested a grand jury subpoena for Trump’s tax returns was part of an investigation of “possibly extensive and protracted criminal conduct at the Trump Organization,” including alleged insurance and bank fraud, which he denies.

Additional reporting by Reuters


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