Deutsche Bank Discussed Selling Donald Trump's

Loans, Feared No-one Would Buy Them: Report

Newsweek By LaToya Harding On 11/3/20 at 9:53 AM EST

Deutsche Bank executives were reportedly looking to offload President

Donald Trump's loans as part of an effort to cut the institution's financial ties
to him after the U.S. election.

Three unnamed senior officials at the investment bank told Reuters that it
was tired of the negative publicity around its relationship with the president,
which has come under the scrutiny of multiple investigations. [13-‫مق))رن‬
‫]المقرن‬

However, they told Reuters discussions about offloading the $340 million of
outstanding Trump loans in a secondary market did not progress because
there was no clear demand from potential buyers, in part due to the problems
surrounding the debt.

The loans are to the Trump Organization, the president's umbrella group of
about 500 business entities, according to filings made to the U.S. Office of
Government Ethics in July, and Reuters.

Two of the officials also told the news agency that the three loans are
personally guaranteed by Trump, which may mean foreclosing on the
president or seizing his assets if he is unable to pay them back or refinance
the debt. [14‫هشام المشعان‬-]

However, demanding the money back soon becomes more difficult if he is

re-elected as president, so Deutsche is reportedly awaiting the election
result before taking any action to claw back the loans and end its
relationship with Trump, which began in the 1990s.

In August, New York prosecutors subpoenaed Deutsche Bank as they sought

financial records that Trump had provided to the lender, according to a New
York Times report.
Manhattan District Attorney Cyrus Vance Jr., a Democrat, wanted eight
years of the president's personal and corporate tax records.

"This is just a continuation of the witch hunt. It's Democrat stuff," Trump
told reporters at the White House following the report. "They failed with
Mueller. They failed with everything. They failed with Congress. They
failed at every stage of the game."

The next month, Trump refuted another Times report that claimed he only
paid $750 in federal income taxes for two years. The newspaper had said it
had seen tax-return data going back more than 20 years.

At the time, Norman Ornstein, resident scholar at the conservative American

Enterprise Institute', tweeted: "If I were Deutsche Bank executives who gave
loans to Trump when no one else would...I would be very, very nervous
right now."

At a White House news conference, Trump called the story "totally fake
news. Made up, fake."