Fri. Sep 25th, 2020

Deutsche Bank Launches Investigation Into Longtime Banker of Trump, Kushner

Mandatory Credit: Photo by Evan Vucci/AP/REX/Shutterstock (10056440b) President Donald Trump talks with reporters on the South Lawn of the White House before departing for the American Farm Bureau Federation's 100th Annual Convention in New Orleans, in Washington Trump, Washington, USA - 14 Jan 2019

Deutsche Bank launched an internal investigation into the longtime personal banker for President Trump and his son-in-law, Jared Kushner, a bank spokesman confirmed to The Hill on Sunday.

The New York Times first reported Sunday that the bank was looking into Rosemary Vrablic to determine if she had acted improperly when she and two colleagues bought an apartment for about $1.5 million in 2013 from Bergel 715 Associates.

In a financial disclosure report filed Friday, Kushner and his wife, Ivanka Trump, said they had received $1 million to $5 million from Bergel 715 in 2019. The couple had not previously reported having an ownership stake in the company. 

A person familiar with Kushner’s finances told the Times he had an ownership stake in Bergel 715 at the time Vrablic bought the apartment. The 2019 reported income is unrelated to Vrablic’s purchase in 2013. The Times reported Deutsche Bank did not know Vrablic and her colleagues had bought the apartment from a company Kushner had a stake in until it was contacted by the newspaper.

“The bank will closely examine the information that came to light on Friday and the fact pattern from 2013,” bank spokesman Daniel Hunter said. 
Kushner and President Trump were clients of Vrablic at the time of the 2013 sale and had received about $190 million in loans from Deutsche Bank. Both were also granted hundreds of millions of dollars after that point, according to the Times.

Banks usually prohibit employees from conducting personal business with clients out of concerns of conflicts of interest

Vrablic’s lawyer, a senior private banker and managing director at Deutsche Bank, declined to comment to the Times.

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Written By: Tommy Lightfoot Garrett

Photographs are Courtesy:  AP

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