The New York attorney general has subpoenaed records from Deutsche Bank related to three large loans the bank extended to President Trump’s company in recent years — and a fourth loan that Trump sought to buy the NFL’s Buffalo Bills, according to two people familiar with the subpoenas.
Those subpoenas signal a significant new inquiry by state regulators into the Trump Organization’s financing.
The subpoena follows congressional testimony by Michael Cohen — Trump’s former lawyer and longtime self-proclaimed “fixer” — that Trump inflated his net worth in documents he sent to Deutsche Bank while seeking loans.
The German bank also was crucial to Trump’s real estate business in the last few years before he ran for president, lending him more than $360 million since 2012. The loans let Trump buy new properties and refinance old ones, despite his history of corporate bankruptcies and disputes with lenders.
In all cases, the loans came not from Deutsche Bank’s main commercial lending division, but rather from a smaller office of the bank that manages money for high-net-worth clients.