DEUTSCHE BANK, TRUMP'S SUGAR DADDY, RAIDED BY POLICE ON SUSPICION OF MONEY LAUNDERING

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DEUTSCHE BANK, TRUMP’S SUGAR DADDY, RAIDED BY POLICE ON SUSPICION OF MONEY LAUNDERING

DEUTSCHE BANK, TRUMP’S SUGAR DADDY, RAIDED BY POLICE ON SUSPICION OF MONEY LAUNDERING

The German lender, who Trump owes $300 million, is not having a great morning.

Vanity Fair-

The past few years have not been the best of times for Deutsche Bank. In fact, one might characterize them as whatever is German for anni fucking horribiles, which is to say that at various points the lender has: failed its stress test; released its own (!) internal survey showing that a large number of employees are embarrassed to admit they work at the bank; had Bloomberg call its C.E.O. a failure; seen its net income fall off a cliff; had a pair of traders convicted of manipulating Libor; and conducted an internal probe that shows it might have “handled about $150 billion” of the $230 billion that was laundered out of Russia’s Danske bank. And on Thursday, this happened:

German police raided Deutsche Bank’s offices in Frankfurt in a probe of money laundering against the country’s flagship lender. . . . The public prosecutor’s office in Frankfurt said an evaluation of data from the Panama Papers had triggered suspicion that the bank may have helped customers create offshore companies in tax havens around the world.

[VANITY FAIR]

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