After an initial report about a subpoena from the German daily Handlesblatt, Bloomberg, The Wall Street Journal and other news outlets reported that Deutsche Bank had received a subpoena from Special Counsel Robert Mueller targeting Trump and his family's bank records.
Mueller's investigation - which is looking into alleged Russian interference into last year's USA election and whether Trump's winning campaign assisted in those efforts - appears to be entering a new phase.
Mueller, of course, is looking for a Russian Federation connection with this subpoena, but Trump and his lawyers are unlikely to be sympathetic to that interpretation, and will likely cast it as an unreasonable intrusion into the president's personal life - part of the "witch hunt" the president keeps decrying.
"We have confirmed that the news reports that the special counsel had subpoenaed financial records relating to the president are false".
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Mr Trump got a $106 million loan from Deutsche Bank in 2011 to buy Doral, the golf resort in Miami, according to Reuters. This was the middle of the financial crisis, a fact Trump tried to leverage in court, arguing he should not have to repay money he owed Deutsche Bank because it was "one of the banks primarily responsible for the economic dysfunction we are now facing". There is no evidence in this Bloomberg report that Kushner's loan is under scrutiny, but Jared Kushner certainly is-and when The Washington Post unearthed that fact back in June, the White House told them that Kushner "will recuse from any particular matter involving specific parties in which Deutsche Bank is a party".
The New York Times has reported that bank regulators were reviewing hundreds of millions dollars worth of loans that Donald Trump's businesses had with Deutsche Bank, Germany's largest.
"We confirmed that the news reports that the special counsel had subpoenaed financial records related to the president are completely false", Sanders said.
News of the Deutsche Bank subpoena may escalate Trump's vitriol toward investigators, which over the past week has included publicly attacking the Justice Department and the Federal Bureau of Investigation, whose reputation he declared to be " in tatters".
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According to Bloomberg, he owes the bank about $300 million. Representative Maxine Waters of California and other Democrats have asked whether the bank's loans to Trump, made years before he ran for president, were in any way connected to Russian Federation.
Trump and Deutsche Bank have not always been on good terms.
AFP reported late Tuesday that the subpoena sought information about Paul Manafort, the former Trump campaign official who was indicted in October. In an interview this July, Trump told The New York Times that examination of his or his family's finances by Mueller would cross a red line.
Mr Trump sued the bank and other lenders in 2008, demanding $US3 billion ($3.9 billion) in damages, claiming they broke agreements in the construction and financing of a Chicago hotel.
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