May 24 Democrats on a U.S. of House of
Representatives panel have asked Deutsche Bank to
provide information on whether any accounts connected to
President Donald Trump have ties to Russia, adding another
dimension to probes into connections between Moscow and Trump.
Democrats on the U.S. House Financial Services Committee
said on Wednesday they had sent a letter the previous day to
Deutsche Bank Chief Executive Officer John Cryan seeking details
of internal reviews to determine if Trump's loans for his real
estate business were backed by the Russian government.
The congressional inquiry also seeks information about a
Russian "mirror trading" scheme that allowed $10 billion to flow
out of Russia.
“Congress remains in the dark on whether loans Deutsche Bank
made to President Trump were guaranteed by the Russian
government, or were in any way connected to Russia," the
Democrats wrote. "It is critical that you provide this committee
with the information necessary to assess the scope, findings and
conclusions of your internal reviews.”
The Democrats requested the documents from the bank, but
cannot compel it to hand over the information. The committee has
the power to subpoena the documents, but that would require
cooperation from committee Republicans who make up the majority
of the panel because the party has control of the House. No
Republicans signed on to the document request.
Citing media reports, the Democrats called for the bank to
hand over any documents tied to internal reviews of Trump’s
personal accounts at the bank. They also said the bank should
state publicly that it had reviewed both the "mirror trading"
scheme and Trump’s accounts.
Mirror trading involved buying stocks, for example, in
Moscow in rubles, with related parties selling the same stocks
shortly thereafter through a bank's London branch.
They also called on the bank to name an independent auditor
to verify the results of the reviews, which should be turned
over to the committee “as soon as reasonably practicable.”
Renee Calabro, a spokeswoman for Deutsche, declined to
The House panel request to Deutsche comes as Trump is mired
in controversy over FBI and congressional probes into alleged
Russian meddling in the 2016 U.S. presidential election and
potential collusion between the Moscow and the Trump campaign.
Moscow has denied the allegations, and Trump has denied any
(Reporting by Karen Freifeld in New York and Pete Schroeder in
Washington; Editing by Jeffrey Benkoe, David Gregorio and