Deutsche Redux

Several of CYCLOPS most conscientious collaborators sent me the following|:     https://www.nytimes.com/2019/05/19/business/deutsche-bank-trump-kushner.html

                                                     https://www.cnn.com/2019/05/19/business/deutsche-bank-trump-kushner/index.html

Deutsche Bank Staff Saw Suspicious Activity  in Trump and Kushner Accounts  NY TIMES  19MAY2019

Let CYCLOPS summarise:

• Financial transactions by Trump and Jared Kushner entities set off alerts in  Deutsche Bank computer system 
• Red flagged by computer algorithms designed to detect illicit activity.
• Compliance staff reviewed the transactions and prepared  "suspicious activity" reports 
• They recommended these should be sent to a unit of the Treasury Department that policies financial-crimes .
• Executives at Deutsche Bank,which has lent billions of dollars to the Trump and Kushner companies, rejected their employees’ advice. 
• The reports were never filed with the government.                                                                                                                                                                                                                                           
• Several other former Deutsche Bank employees said the decision not to report the transactions reflected a lax approach to money laundering laws.
• Part of a pattern of the bank’s executives rejecting valid reports to protect relationships with these lucrative clients

• Tammy McFadden is a former Deutsche Bank anti-money laundering specialist who reviewed some of the transactions.
• She found money had moved from Kushner Companies to Russian individuals. 
• She concluded that the transactions should be reported to the government
• In part because regulators had already  ordered Deutsche Bank to toughen its scrutiny of potentially illegal transactions. 
• Deutsche had previously been caught laundering billions of dollars for Russians,
• Ms. McFadden drafted a suspicious activity report and compiled a small bundle of documents to back up her decision.                                                                                                                                   
• Ms. McFadden informed her superiors that Mr. Trump and members of his family, were not receiving appropriate attention. 
• She raised concerns about the  bank’s practices.
• Her superiors told her to stop raising questions.
• This has been confirmed by two former managers 

                                                    

She took her complaint to the human resources department,

 She was transferred to another division. 

She was terminated in April 2018. 

The bank told her that she was not processing enough transactions 

She had worked in Deutsche Bank 's compliance unit for 10 years                                                                                                                                                                                                  She has now filed complaints with the Securities and Exchange   Commission                                                                                                   Amanda Miller, of the  Trump Organization said:                                                                             “We have no knowledge of any flagged transactions with Deutsche Bank.”    adding Trump Organization currently has                                                                                                      “no operating accounts with Deutsche Bank.”                                                                                                                                                                                                                                         Please note the very careful lawyerly wording. "Operating accouts are NOT the same as loans.                                                                                                                                                                                                                                                                                                                                   

• Congressional and state authorities  have demanded thebank's records  
•  Trump and his family sued Deutsche Bank in April, 
• Trying to block compliance                                                                                                                                                                                                                        

  The transactions occurred between 2016 and 2017
 Trumpfski was elected in November 2016                                                                                                                                                                                                                                                                        Cyclops has reviewed the NYTimes and his past blog posts.                

Providing below a set of "co incidences" --with the dates of such

The reader should be aware that before a Major Money Centre Bank is fined for money laundering or other felonies the investigating authorities would have spent 18-24 months 

• gathering evidence,
• interviewing executives
• analysing data, 
• negotiating with very highly paid law firms
• often based in multiple jurisdictions.                                                                                                                                                                                                                                                     US,German and UK punished Deutsche Bank                                                                                                       
• For money laundering
• Helping  wealthy Russian clients launder funds  
• For moving money into countries like Iran in violation of American sanctions. 
• The bank has paid  billions of dollars in penalties and
•  Is operating under a Federal Reserve order that requires it to do more to stop illicit activities.

Deutsche Bank has spent more than $18 billion over the past decade in fines and to settle legal disputes

• November 2018                                                                                                               Danske Bank whistle-blower estimated that more than half of some $230 billion in suspect funds handled by the bank was funneled through Deutsche Bank’s U.S. unit.
• November  2018                                                                                           German authorities descended on the lender’s offices in a coordinated raid related to a money-laundering investigation. 
• June 2018:                                                                                                                    Agreed to pay $205 million to settle a long-running investigation of its foreign exchange trading by New York’s banking superintendent.
• January 2017:                                                                                                          Fined $629 million by U.K. and U.S. authorities for  helping wealthy Russians move about $10 billion out of the country.                                                                                                                                              etc,etc                                                                                                      

AND NOW THIS

The Deutche Chief Executive during this period of largess to the Trumpski family was Josef Ackerman.                                        

• He was forced out of the bank  following a series of scandals
• It is believed Merkel wanted him indicted             but 
• The German Banking Establishment wanted the matter swept under the carpet
• Since his departure Deutsche has paid fines and penalties of over $10 billion 

       In late 2013 

•   He also stepped down as Chairman of Zurich Insurance Group 
•  "Resigned from the boards of Siemens AG and Royal Dutch Shell          
• Three of the largest corporations in the world
• He gave up a million dollars in fees and stock options.

          

 Having been dumped by the European Business Establishment he  next showed up as the chairman of the Bank of Cyprus.

     By coincidence a bank intimately involved in Russian Money Laundering  and now owned by a group of oligarchs close to Putin and controlled by one Wilbur Ross.

    Yes it is HE