New York DA Tightens The Vise On Trump By Obtaining His Banking Records

The German bank that has loaned over $2 billion to Donald Trump over the past two decades has handed over the president’s banking records to prosecutors in the office of Manhattan District Attorney Cyrus Vance, Jr., according to the New York Times, which suggests that Vance may be on the verge of indicting Trump on bank and insurance fraud charges.

The Times reports that Deutsche Bank began complying with a “wide-ranging” subpoena from Vance’s office last year:

“Deutsche Bank complied with the subpoena. Over a period of months last year, it provided Mr. Vance’s office with detailed records, including financial statements and other materials that Mr. Trump had provided to the bank as he sought loans, according to two of the people familiar with the inquiry.”

It’s believed that Trump and his company, the Trump Organization, falsified the value of properties they own in order to leverage larger loans from the German financial institution, which would constitute bank fraud. Bank fraud which is a felony in New York and could also wind up resulting in the dismantling of the Trump Organization, which is currently being run by two of the president’s sons, Eric and Don Jr.

All of this, the Times notes, poses an enormous legal and financial risk to the president and his family:
“The bank’s response to the subpoena reinforces the seriousness of the legal threat the district attorney’s investigation poses for Mr. Trump, his family and his company, which in recent years have faced — and for the most part fended off — an onslaught of regulatory, congressional and criminal inquiries.”
Vance’s office is also on the verge of getting the president’s taxes, which the Supreme Court ruled cannot be withheld by Trump because they’re evidence in a criminal investigation.
Those tax returns are essential to a complete understanding of the president’s finances, according to The Times:
“Tax returns can be crucial evidence for proving that a defendant misstated the value of assets, said Daniel R. Alonso, who was Mr. Vance’s top deputy from 2010 to 2014 and is now in private practice. ‘Tax returns are an obvious place to look because of the precision required by tax authorities,’ he said.”
Sometime before voters go to the polls later this year, Donald Trump may well become the first sitting president to ever face a criminal indictment. And that alone could spell doom for the president’s 2020 campaign, which is already stumbling with less than 90 days remaining until Election Day.

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