Deutsche Bank was helping the client to buy and sell to himself.Īt first glance, the trades appeared banal, even pointless. Both the Russian company and the offshore company had the same owner. In the second trade, Volkov-acting on behalf of a different company, which typically was registered in an offshore territory, such as the British Virgin Islands-would sell the same Russian stock, in the same quantity, in London, in exchange for dollars, pounds, or euros. Usually, the order was for about ten million dollars’ worth of the stock. In one, he would use Russian rubles to buy a blue-chip Russian stock, such as Lukoil, for a Russian company that he represented. Volkov would speak to a sales trader-often, a young woman named Dina Maksutova-and ask her to place two trades simultaneously. Illustration by Anna PariniĪlmost every weekday between the fall of 2011 and early 2015, a Russian broker named Igor Volkov called the equities desk of Deutsche Bank’s Moscow headquarters. Interestingly enough, Mueller Bite-Sizes can be read in any order.The bank, beset by scandals and mismanagement, is in a precarious state. Mueller Bite-Sizes uncovers what is essentially a compelling spy mystery. The Mueller Report Adventures: In Bite-Sizes on this Facebook page. These quick, two-minute reads interpret the report in normal English for busy people. ‘re against Trump’s golf course in Miami, and hotels in Washington and Chicago, are such that the Trump Organization has only had to pay interest on them so far, and the entire principal is outstanding, two of the three bank officials said. ‘If the Republican president loses, and Democrats take control of the White House and Congress, senior Deutsche Bank executives believe congressional investigations that have stalled amid a court battle over access to Trump’s financial records could be rejuvenated, the three bank officials said.’ Now, the bank considers Trump “collateral damage:” This comes at a time when Chief Executive Christian Sewing is trying to turn Deutsche Bank around. The probes and the bad press, seen by one senior bank executive as “serious collateral damage” to the relationship and are an unwelcome distraction for the bank, the three officials said. Since Trump began his presidency, the bank has “been dragged into congressional and other investigations into the real estate mogul turned politician’s finances and alleged Russia connections.” The German bank began lending to Trump in the late 1990s. The bank could seize Trump’s assets after he leaves office, according to The Business Insider.Ī Deutsche Bank management committee oversees its “reputational and other risks for the lender in the Americas region.” Over the years, the bank has loaned Trump over $2 billion. These loans are set to come due in two years. The Trump Organization, which is the umbrella for hundreds of smaller entities, is into the bank for $340 million in three separate loans. The news about Trump is bad for business. Now, it appears that Deutsche Bank wants to wash the negative smell of Trump off of its hands. ‘You bet I’m going to continue to fight for accountability and strong enforcement of our banking laws, especially for giant institutions like Deutsche Bank.’
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