President Trump’s bank revealed that it is in possession of documents that could include his sought after tax returns.
With House Democrats hoping to get their hands on Trump’s tax documents ahead of the 2020 presidential election, Deutsche Bank could be handing them the fodder they are after with its acknowledgment Tuesday that it “has in its possession tax returns.”
(Video: MSNBC via Twitter)
The disclosure from Trump’s largest lender came in a federal appeals court in New York Tuesday in response to House subpoenas for financial records related to the president, his immediate family and Trump family-controlled entities, such as the Trump Organization.
But while Deutsche Bank revealed it had tax records that Congress is seeking in its public redacted response, it did not specify if any of those documents are actually tax returns filed by Trump himself.
“Based on Deutsche Bank’s current knowledge and the results of the extensive searches that have already been conducted, the Bank has in its possession tax returns (in either draft or as-filed form) responsive to the Subpoenas,” the bank told the New York-based U.S. Court of Appeals for the 2nd Circuit on Tuesday.
The latest news prompted MSNBC host Lawrence O’Donnell to cite a “single source” who told him that a loan provided to Trump by the Deutsche Bank was co-signed by Russian oligarchs.
“This single source close to Deutsche Bank has told me that the Trump — Donald Trump’s loan documents there show that he has co-signers. That’s how he was able to obtain those loans. And that the co-signers are Russian oligarchs,” he told colleague Rachel Maddow in Tuesday’s hand-off between their shows.
“What? Really?” an incredulous Maddow exclaimed.
“If true,” O’Donnell said, “that would explain every kind word Donald Trump has ever said about Russia and Vladimir Putin. If true. If true, that would be a significant factor in Vladimir Putin’s publicly stated preference for presidential candidate Donald Trump over presidential candidate Hillary Clinton.”
Lawyers for Deutsche Bank indicated Tuesday that the German bank, which has loaned Trump substantial amounts of money throughout his real estate career, has tax returns “related to parties not named in the Subpoenas but who may constitute ‘immediate family’ within the definition provided in the Subpoenas.”
NEWS: Deutsche Bank tells a federal court it DOES possess tax returns responsive to subpoenas issued by the House Financial Services & Intel committees.
Names are redacted but presumably Trump & family.
Capital One says it DOESN’T have any documents responsive to the subpoena. pic.twitter.com/2YHWwxfzN5
— Andrew Desiderio (@AndrewDesiderio) August 27, 2019
Subpoenas were issued to Deutsche Bank and Capital One earlier this year by the House Intelligence and Financial Services committees prompting a lawsuit by the president, Trump family members and businesses to block the banks from providing the information to the Democrats.
Trump appealed a decision by a lower court to allow the banks to provide the financial records to House Democrats who seek to use them as part of the Judiciary Committee’s impeachment investigation. Committee leaders, Reps. Maxine Waters of California and Adam B. Schiff of New York, are hoping to get whatever information they can find in their relentless pursuit of connecting Trump to some kind of foreign influence or unethical activity.
Nadler asked four other House committees last week to share documents with his panel in order to help in its impeachment hunt.
But in court proceedings last week, the banks cited “contractual obligations” which prevented them disclosing the information as lawyers for both Deutsche Bank and Capital One would not answer the three-judge panel’s questions about whether they possessed Trump’s tax returns.
In a separate letter Tuesday, Capital One said it did not have in its possession any of the documents requested in the subpoenas while Deutsche Bank redacted some names in its response.
“The Bank seeks to redact the names of specific individuals to strike an appropriate balance between compliance with the Court’s order (to which it has responded in full) and the competing client privacy considerations,” the letter stated.
The president’s attorneys called out the political maneuvers by Democrats who are overstepping their Congressional authority in an effort to embarrass him. Trump’s attorney Patrick Strawbridge slammed the case which comprises the “broadest possible subpoena ever served that targets a sitting president,” at the appeals court in New York last Friday, according to The Washington Post.
“The real objective appears to be law enforcement” not legislative, he told the court.
The left’s predictable launch into multiple conspiracy theories, with the latest on the bank revelations, was seen in O’Donnell’s tease to Maddow and on social media.
A source close to Deutsche Bank says Trump’s tax returns show he pays very little income tax and, more importantly, that his loans have Russian co-signers.
If true, that explains every kind word Trump has ever said about Russia and Putin. @TheLastWord 10pm
— Lawrence O’Donnell (@Lawrence) August 28, 2019
And while breathlessly reporting that Deutsche Bank is “sitting on a vast trove” of Trump documents, liberals still admitted it was “unclear how useful” the tax returns would prove to be to Democrats.
.@davidenrich on Deutsche Bank confirming it has tax returns related to Trump subpoena:
“we now know without any doubt that Deutsche Bank is sitting on a vast trove of trump’s personal and corporate financial records.” It is “unclear how useful” the tax returns will be.” pic.twitter.com/JuS32wUfjC
— TheBeat w/Ari Melber (@TheBeatWithAri) August 27, 2019
The president is battling Democrats in several court fights involving his tax returns as they continue to spend taxpayer money to chase after their goal of taking down a sitting U.S. president.
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