Trump’s Longtime Banker at Deutsche Financial institution, Rosemary Vrablic, Resigns

Deutsche Bank’s internal review focused, at least in part, on a Park Avenue apartment that Ms. Vrablic, Mr. Scalzi, and another Deutsche Bank colleague bought from a company called Bergel 715 Associates in June 2013 for about $ 1.5 million . Mr. Kushner held an interest in this company at the time.

Economy & Economy


Apr. 22, 2020 at 1:40 am ET

Banks usually prevent employees from doing face-to-face business with customers because conflicts of interest can arise.

After being contacted by the New York Times in August, Deutsche Bank officials began reviewing the transaction “and the 2013 factual pattern,” said then-bank spokesman Hunter.

The status and scope of this review, which may include other transactions, is not clear, but Deutsche Bank officials previously said they were hoping it would be completed by the end of the year.

At the time of the real estate transaction, Ms. Vrablic was rapidly expanding Deutsche Bank’s relationship with the Trumps and the Kushners. It was Mr. Kushner who invited Ms. Vrablic to Trump Tower in Manhattan in 2011 to meet his father-in-law, who was radioactive for most of the major banks.

Ms. Vrablic and her boss have championed the Trump relationship. But it polarized within the bank. Some executives argued it was too risky to lend Mr Trump because he had failed to repay loans in the past, including in 2008 when he defaulted on a large Deutsche Bank loan on his Chicago skyscraper. However, those concerns were overridden and the relationship with Mr. Trump continued.

As they sought more credit, Mr. Trump and his agents provided Deutsche Bank with annual financial statements that appeared to significantly exaggerate the value of some of his company’s real estate and other assets, according to current and former bank employees, as well as most recent statements from the Congressional year by Mr. Trump’s former private attorney Michael Cohen.

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