A set of exclusively obtained confidential bank records from Deutsche Bank Trust Company (DBTC), revealed that the American subsidiary of Deutsche Bank Trust Company owed a state-owned Russian bank approximately $511 million.
The reports showed that the state-owned Russian bank, Gazprombank, deposited at least half a billion dollars into DBTCA around the time the bank lent Trump his most scrutinized loans, reports Forensic News.
A set of confidential DBTC reports from October 2013 revealed that DBTCA owed Russian government-controlled Gazprombank approximately $511 million. An additional liability of €2.8 million to a Gazprombank subsidiary in Switzerland brought DBTCA's total liability to Gazprombank to more than $515 million.
As Trump received loans from DBTCA, totaling over $360 million, Gazprombank sent the $511 million in cash to the American Subsidiary to be distributed however the Russian bank intended.
This loan measures as the DBTCA's biggest single liability to a foreign government-controlled entity.
In a statement Deutsche Bank said that DBTCA's relationship with Gazprombank required the Russian state bank to move significant amounts of money into DBTCA as part of a "cash management" arrangement.
However, a spokesman for Deutsche Bank said that the DBTCA at no point received loans or a capital injection from Gazprombank or any other Russian bank.
The revelation adds further intrigue into US President Donald Trump's finances and possible counterintelligence concerns as the Russian government converted billions of rubles to dollars via DBTCA.
Meanwhile, the new evidence show that while DBTCA incurred liabilities of more than $13 billion to other entities, a lion's share–approximately 26% of that total–was owed to entities based in Russia specifically.
The sizable amount of money owed to Russia raises questions about why the American bank was so deeply intertwined with Russian cash.
The Deutsche Bank faced prior scrutiny for a $1 billion loan, which was later restructured to $790 million, to the majorly state-owned Russian VTB Bank. That loan was first issued in 2007, and the Wall Street Journal later reported Deutsche Bank executives raced to shed the remaining balance on it shortly after Trump's election.
With still about $600 million left for VTB to pay off, Deutsche Bank took a loss in order to reduce its Russian exposure, reports the Journal.
On December, 2019, Val Broeksmit, a whistleblower, told the FBI that the VTB Bank underwrote the Trump loans, essentially guaranteeing a valve of money to Trump which DBTCA provided.
DBTCA loaned Donald Trump a significant portion of the $2.5 billion total. The breach report provided by Broeksmit is an inside look into DBTCA's complete financials around the time DBTCA issued several of its largest loans to Trump.
In 2012, DBTCA approved a $125 million loan to purchase the Trump Doral Resort in Florida. The same year, Trump took out an additional loan on his Chicago property.
In 2015, another DBTCA loan, worth $170 million, allowed Trump to purchase a 60-year lease to the Old Post Office Building in Washington, DC.
The subsidiary also had a relationship with Jeffrey Epstein, the pedophile and sex trafficker who died under suspicious circumstances after his arrest in July, 2019. That relationship began in 2013, the same year Broeksmit was presented with the DBTCA breach report which documented massive liabilities to Russia.