The German bank that has lent President Trump hundreds of millions of dollars over the years was subpoenaed by Special Counsel Robert Mueller’s investigation, Reuters and Bloomberg reported. Deutsche Bank received a subpoena “several weeks ago” for financial records related to Trump and his family, unnamed sources told the outlets.
“Deutsche Bank always cooperates with investigating authorities in all countries,” the bank told Bloomberg in a statement Tuesday that did not provide any additional information.
The move signifies Mueller’s willingness to cross what Trump and his allies have deemed to be a red line in the investigations into Russian election interference by looking into the President’s finances.
“I think that’s a violation,” Trump told the New York Times in July, though he declined to say whether he would fire Mueller if that line was crossed.
Democrats have sought unsuccessfully to obtain Trump’s Deutsche Bank records as part of their congressional probes. According to Bloomberg, the bank’s management is now more willing to share those records, and Deutsche Bank conducted its own internal analysis that found no evidence that its dealings with Trump were connected to the so-called Russian mirror trades affair, an alleged money laundering scheme to funnel Russian money out of the country.
Rep. Adam Schiff (D-CA), the top Democrat on the House Intel committee, called the reported move a “a very significant development.”
“If Russia laundered money through the Trump Organization, it would be far more compromising than any salacious video and could be used as leverage against Donald Trump and his associates and family,” he said.
Update: This story has been updated to include a statement from House Intel ranking member Rep. Adam Schiff (D-CA).