Deutsche Bank ordered to reveal Donald Trump’s financial records

President Trump has faced yet another legal backlash, as Deutsche Bank received an order to disclose his financial records. The decision that took place last week is just the latest one that is going to be decided on by the Supreme Court. Trump had 7 days to appeal the ruling that rejected his bid to block subpoenas from the financial services committee and the House intelligence unit.

Trump’s lawyer Jay Sekulow commented that the team is currently evaluating their next steps that might include seeking review at the Supreme Court itself. Up until now, Trump has already appealed two court decisions that also involved his financial records.

The democratic party issued the subpoenas to Capital One and Deutsche Bank in April as to better understand if there are illegal money flows and external influence into US politics at this stage. What Trump did was sue the lenders thus blocking their compliance with the orders.

The subpoenas that were issued cover a very wide range of financial records relating to Trump’s family, his companies and himself. However, according to Financial Times, Capital One and Deutsche Bank have already commented that they do not have Trump’s tax returns, but Deutsche does have some of the tax returns that concern some entities mentioned in the subpoena. As reported by Financial Times, Deutsche Bank will abide by all court orders coming its way and reveal all necessary information.

In addition, Trump is fighting several other subpoenas regarding his financial records and tax returns.

What is interesting, however, that Trump is the only US President so far who has managed to assert such secrecy around his financial matters and has challenged the right of prosecutors and Congress to investigate him further.

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