Donald Trump and Deutsche Bank have done business with each other for years. Picture Alliance / Collage: Dominik Schmitt
Deutsche Bank financed several of Donald Trump’s real estate projects starting in 1998, despite his debts of up to $900 million.
After the attack on the Capitol in January 2021, Deutsche Bank finally broke away from Trump, who was later indicted on fraud charges.
You can see the whole story as a video here.
In the new video of our investigative YouTube format “Scoops “Our editors shed light on the complex and often controversial business relationship between Donald Trump and Deutsche Bank. We have summarized the most important information for you here.
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Donald Trump and Deutsche Bank: How it all began
In the 1990s, when Donald Trump’s boom years in real estate were over, his debts totaled up to $900 million. And the big banks? They didn’t want to give him any more loans. After all, they had lost millions because of him. Donald Trump was facing bankruptcy. But then: Enter Deutsche Bank. At that time she wanted to get even more involved in the US business. The motto was: enter into transactions that other banks avoided. She repeatedly gave Donald Trump loans from 1998 and financed many of his real estate projects.
When Donald Trump sued Deutsche Bank for billions
The relationship between Trump and Deutsche Bank ran without major problems until the financial crisis in 2008/2009. But then it was precisely this real estate crisis that got him into trouble. In 2008, he had a hotel built with the help of an $840 million loan from Deutsche Bank. But just a little later the credit institution wanted this money back. But Trump couldn’t pay the entire amount. In return, Trump sued Deutsche Bank for damages. His argument: She was partly to blame for the financial crisis, so she had to pay him money and not he to Deutsche Bank.
Trump lost the case and had to pay the bank $40 million.
Nevertheless, business between Trump and Deutsche Bank continued. Through banker Rosemary Vrablic, Trump received hundreds of millions of dollars in loans over the years.
The end of the relationship
After the attack on the Capitol on January 6, 2021, Deutsche Bank finally broke away from Trump. Shortly thereafter, the New York Attorney General’s Office charged him with fraud, primarily for misrepresenting his assets in order to obtain more favorable loan terms.
LS