Deutsche Bank has launched an internal review into Rosemary Vrablic, the longtime personal banker of President Trump and his son-in-law and senior adviser, Jared Kushner, The New York Times reports.
The bank is specifically investigating a real estate transaction involving Vrablic and a company called Bergel 715 Associates. In June 2013, Vrablic and two of her co-workers in Deutsche Bank's private banking division bought a $1.5 million Manhattan apartment from Bergel 715. At the time, Kushner held an ownership stake in Bergel 715, a person with knowledge of the matter told the Times.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
In 2013, Donald Trump and Kushner were both clients of Vrablic, and they had collectively received about $190 million in loans from Deutsche Bank, with more to come later, the Times reports. Bank employees are normally not allowed to conduct personal business with clients due to the potential for conflicts of interest, and Deutsche Bank told the Times the company was not aware of the transaction before being contacted by the newspaper.
One of Bergel 715's main owners is George Gellert, a Kushner family friend and investor, and it is unclear the size of Kushner's stake in the entity. Vrablic joined Deutsche Bank's private banking division in 2006, and the Kushner family worked with her before then. Kushner introduced Vrablic to Trump in 2011, at a time when Trump was struggling to find people to lend him money due to defaults and bankruptcies, the Times reports.
-
September 13 editorial cartoonsCartoons Saturday's political cartoons include court-approved racial profiling and America's moral compass
-
Giorgio Armani obituary: designer revolutionised the business of fashionIn the Spotlight ‘King Giorgio’ came from humble beginnings to become a titan of the fashion industry and redefine 20th century clothing
-
Kim Jong Un’s triumph: the rise and rise of North Korea’s dictatorIn the Spotlight North Korean leader has strengthened ties with Russia and China, and recently revealed his ‘respected child’ to the world
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
