According to the New York Times, former President Donald Trump’s longtime banker, Rosemary Vrablic, at Deutsche Bank was ousted from her job late last year after an internal investigation found she engaged in undisclosed investment activity involving a client. Records filed with the Financial Industry Regulatory Authority show that Vrablic, a senior private banker and managing director in its wealth management business in New York, “engaged in undisclosed activities related to a real estate investment,” including buying a property “from a client-managed entity.”
The paper reports that the records said that Vrablic, who left the bank in December, was “permitted to resign.” Vrablic’s colleague, Dominic Scalzi, also resigned in December for the same reason, according to a separate Finra disclosure.
And of course, there’s a tie to Jared Kushner.
“Deutsche Bank’s internal review concerned a 2013 real estate transaction between Ms. Vrablic and a company, Bergel 715 Associates. Jared Kushner, Mr. Trump’s son-in-law and senior White House adviser, held at least a small ownership stake in Bergel 715, according to a financial disclosure report he filed with the government last summer,” the newspaper reports.
Stay up-to-date with the latest news!
Subscribe and start recieving our daily emails.
The bank’s investigation began last year following a report by The New York Times saying that Vrablic and two of her colleagues had bought an apartment in a Park Avenue building for about $1.5 million.
At the time of the purchase, Trump and Kushner had borrowed nearly $200 million from Vrablic’s division at Deutsche Bank.
Trump owes approximately $330 million to Deutsche Bank, and those debts are due in 2023 and 2024. If Trump defaults on the loans, since he has personally guaranteed the loans, the bank could come after his personal assets. Last year, Deutsche Bank executives decided to discontinue doing business with Trump or his company in the future.
In total, Trump has about $1 billion in debts, borrowed to finance his assets, Forbes reported in late 2020. The loans, Forbes reported, are spread out over more than a dozen different assets—hotels, buildings, mansions, and golf courses. Trump is no longer shielded by the presidency after being soundly defeated by Joe Biden in both the electoral and popular vote. And for some reason, Trump has tried to cling to power.
You can read the full report here.
Featured image via Gage Skidmore/Flickr, under Creative Commons license 2.0
