Donald Trump and Jared Kushner's personal bankers QUIT Deutsche Bank amid internal probe and Manhattan DA's investigation into president's taxes
President Donald Trump's longtime banker at Deutsche Bank AG will be stepping down from the German lender.
Rosemary Vrablic, a managing director and senior banker in the lender's wealth management division, recently handed in her resignation, which the bank accepted effective as of year-end, Dan Hunter, a spokesman for the lender, confirmed.
According to the New York Times, which first reported Vrablic's resignation, she arranged for the lender to grant hundreds of millions of dollars of loans to Trump's company.
Rosemary Vrablic is stepping down from her post as a Deutsche Bank executive. She is seen here with Trump son-in-law Jared Kushner
The resignation of another longtime colleague of Vrablic, Dominic Scalzi, has also been accepted by the bank, Hunter said.
The German bank became Trump's primary lender before his presidency, at a time when other lenders were begging off.
'I’ve chosen to resign my position with the bank effective Dec. 31 and am looking forward to my retirement,' she told the Times.
She leaves the bank just weeks before the Jan. 20 inauguration of President-elect Joe Biden.
The paper reported that he company opened an internal probe into a 2013 transaction between Vrablic and company owned in part by Kushner, who serves as a senior advisor to the president and is married to Ivanka Trump.
The internal probe included an examination of Vrablic's purchase of a Park Avenue apartment for $1.5 million from a company where Kushner held an ownership interest.
Kushner had introduced Vrablic to Trump two years earlier.
Trump obtained financing from the German lender at a time when other lenders were reluctant to extend funds
It was Vrablic who brought in Trump as a client despite his history of defaults and multiple bankruptcies.
The lending she helped arrange helped the Trump Organization to construct a skyscraper in Chicago and purchase the Doral golf club in Florida – which contributed to the real estate baron persona that Trump relied on during his 2016 election campaign.
Manhattan D.A. Cy Vance has been investigating potential financial crimes. His office has spent months investigating Trump and his company's tax return information.
Former Trump lawyer Michael Cohen has testified that Trump would inflate the value of assets when seeking financing, then lower values for tax accounting purposes.
Democrats in the House have spent more than a year seeking Trump tax return information. The Times obtained tax returns during the campaign. Trump owes the German lender $330 million, which would have come due in his second term had he been reelected.
Trump Organization golf and hotel properties have faced challenges during the pandemic as have other businesses in the travel and leisure sector.
Trump has potentially been shielded by Justice Department policies against charging a sitting president. But once he leaves office, in theory he could be charged with a crime if authorities charge him with financial crimes.
Trump has said he did nothing wrong and has described various investigations of him as a witch hunt. Eric Trump and Donald Trump Jr. have been running the Trump Organization along with an executive during Trump's presidency.