Trump's Private Bankers Resign from Deutsche Bank

December 22, 2020

Source: By Kara Scannell, CNN Business

The private bankers responsible for lending to President Donald Trump and Jared Kushner have resigned from Deutsche Bank, according to a CNN report.

"Rosemary Vrablic and Dominic Scalzi have tendered their resignations to Deutsche Bank effective as of year-end," Daniel Hunter, a spokesman for the bank said in a statement.

Vrablic and Scalzi have worked for Deutsche Bank for over a decade. Vrablic was a trusted financial advisor to the Trump Organization and his son in law Jared Kushner, who took over the bank's lending relationship with Trump in the private side of the bank after the commercial lending division stopped doing business with Trump.

Deutsche Bank (DB) has loaned the Trump Organization more than $300 million. In a statement Vrablic said, "I've chosen to resign my position with the bank effective December 31 and am looking forward to my retirement."

The Trump Organization is under investigation by the Manhattan District Attorney's office and New York Attorney General and both agencies have subpoenaed the bank about its lending relationship with the company.

Investigators are looking into whether the Trump Organization mislead or defrauded the lender by inflating the value of some of its assets, according to court filings.

In recent weeks two Deutsche Bank employees were questioned by investigators with the criminal investigation and asked general questions about lending practices. The employees did not work on the Trump account.

A lawyer for Vrablic declined to comment on the investigations.

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