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Deutsche Bank Staff Saw Suspicious Activity in Trump and Kushner Accounts

"Anti-money laundering specialists at Deutsche Bank recommended in 2016 and 2017 that multiple transactions involving legal entities controlled by Donald J. Trump and his son-in-law, Jared Kushner, be reported to a federal financial-crimes watchdog.

The transactions, some of which involved Mr. Trump’s now-defunct foundation, set off alerts in a computer system designed to detect illicit activity, according to five current and former bank employees. Compliance staff members who then reviewed the transactions prepared so-called suspicious activity reports that they believed should be sent to a unit of the Treasury Department that polices financial crimes.

But 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.

The nature of the transactions was not clear. At least some of them involved money flowing back and forth with overseas entities or individuals, which bank employees considered suspicious.

But former Deutsche Bank employees said the decision not to report the Trump and Kushner transactions reflected the bank’s generally lax approach to money laundering laws. The employees — most of whom spoke on the condition of anonymity to preserve their ability to work in the industry — said it was part of a pattern of the bank’s executives rejecting valid reports to protect relationships with lucrative clients.

“You present them with everything, and you give them a recommendation, and nothing happens,” said Tammy McFadden, a former Deutsche Bank anti-money laundering specialist who reviewed some of the transactions. “It’s the D.B. way. They are prone to discounting everything.”

Ms. McFadden said she was terminated last year after she raised concerns about the bank’s practices. Since then, she has filed complaints with the Securities and Exchange Commission and other regulators about the bank’s anti-money-laundering enforcement.

Lenders typically use a layered approach to detect improper activity. The first step is filtering thousands of transactions using computer programs, which send the ones considered potentially suspicious to midlevel employees for a detailed review. Those employees can decide whether to draft a suspicious activity report, but a final ruling on whether to submit it to the Treasury Department is often made by more senior managers.
In the summer of 2016, Deutsche Bank’s software flagged a series of transactions involving the real estate company of Mr. Kushner, now a senior White House adviser.

Ms. McFadden, a longtime anti-money laundering specialist in Deutsche Bank’s Jacksonville office, said she had reviewed the transactions and found that money had moved from Kushner Companies to Russian individuals. She concluded that the transactions should be reported to the government — in part because federal regulators had ordered Deutsche Bank, which had been caught laundering billions of dollars for Russians, to toughen its scrutiny of potentially illegal transactions.

Ms. McFadden drafted a suspicious activity report and compiled a small bundle of documents to back up her decision.

Typically, such a report would be reviewed by a team of anti-money laundering experts who are independent of the business line in which the transactions originated — in this case, the private-banking division — according to Ms. McFadden and two former Deutsche Bank managers.

That did not happen with this report. It went to managers in New York who were part of the private bank, which caters to the ultrawealthy. They felt Ms. McFadden’s concerns were unfounded and opted not to submit the report to the government, the employees said.

Ms. McFadden and some of her colleagues said they believed the report had been killed to maintain the private-banking division’s strong relationship with Mr. Kushner.

After Mr. Trump became president, transactions involving him and his companies were reviewed by an anti-financial crime team at the bank called the Special Investigations Unit. That team, based in Jacksonville, produced multiple suspicious activity reports involving different entities that Mr. Trump owned or controlled, according to three former Deutsche Bank employees who saw the reports in an internal computer system.

Some of those reports involved Mr. Trump’s limited liability companies. At least one was related to transactions involving the Donald J. Trump Foundation, two employees said.

Deutsche Bank ultimately chose not to file those suspicious activity reports with the Treasury Department, either, according to three former employees. They said it was unusual for the bank to reject a series of reports involving the same high-profile client.
Composer Discussion / Re: Sir William Walton
« Last post by Mirror Image on Today at 05:26:32 PM »
Here she is playing the Concerto for Walton's 80th birthday celebration:

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Very nice, daverz. Looks like Walton enjoyed the performance, too.
Composer Discussion / Re: Sir William Walton
« Last post by Daverz on Today at 05:16:52 PM »
In my view, I don’t see how anyone could best Kyung-Wha Chung in the Violin Concerto. For me, it just doesn’t get any better than her performance.

Here she is playing the Concerto for Walton's 80th birthday celebration:

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Retreating back into some familiar and comfortable musical territory:

En blanc et noir
Coombs & Scott, pianos

The Diner / Dune 2020
« Last post by lisa needs braces on Today at 03:55:27 PM »
So they are going to attempt a third adaptation of Frank Herbert's majestic novel Dune.

The first adaptation, from 1984, was directed by David Lynch and was considered a failure, even though it has a fair number of outspoken fans.

The second adaptation was from 2000 and was made for TV. It's better than Lynch's version as far as plotting/storytelling goes -- they have more time to tell the story -- but it's also very stylistically poor and and its production quality is really low.

Now a third adaptation will be attempted, this time with a blockbuster level budget and A-list types before/behind the screen.


Denis Villeneuve (Arrival, Sicario, Bladerunner 2049)


Eric Roth (Forrest Gump, The Insider), the director, and some rando named Jon Spaihts.


Jason Mamoa as Duncan Idaho

Josh Brolin as Gurney Halleck

Rebecca Ferguson as Lady Jessica

Dave Bautista as 'Beast' Rabban.

Stellan Skarsgård as Baron Vladimir Harkonnen

Oscar Isaac as Duke Leto Atredies

This gal as Chani, the Fremen girl Paul marries:

Timothée Chalamet as Paul Atredies.

Javier Bardem as Stilgar

The plan is to make two films.

This is a high level cast, and some of the choices seem genius (Stellan Skarsgård as the Baron.)

Let this thread meet all your Dune 2020 needs.  8) 8) 8) 8) 8) 8) 8)

General Classical Music Discussion / Re: Purchases Today
« Last post by Mirror Image on Today at 03:19:51 PM »
I’ve only listened to Nelsons’ 7th so far, and it is indeed excellent!

Great to hear. Whenever I’m in a Bruckner mood, I’ll definitely be listening to these recordings.
General Classical Music Discussion / Re: Purchases Today
« Last post by kyjo on Today at 03:05:21 PM »
Bought the following:

And pre-ordered this recording:

I’ve only listened to Nelsons’ 7th so far, and it is indeed excellent!
General Classical Music Discussion / Re: Purchases Today
« Last post by kyjo on Today at 03:03:00 PM »
I know I am supposed to have stopped ordering CDs, but I have a good excuse today (it is Wednesday!) and I need to check to see if my new credit card works.

Paul Graener: Orchesterwerke Vol.2

Albert Dietrich: Symphonie d-moll op.20

Volkmar Andreae: Symphonie in C op.31

Johann Nepomuk David: Symphonien Nr.1 & 6

Hendrik Andriessen: Orchesterwerke Vol.4

Emil Nikolaus von Reznicek: Schlemihl - Symphonisches Lebensbild für Tenor & Orchester

Joseph Holbrook: Violinkonzert op.59 "The Grasshopper"
      +Variationen für Orchester op. 60 "Auld Lang Syne"; Poem Nr. 1 op. 25 für Orchester "The Raven"   

Bruno Walter: Symphonie d-moll

Ernst Boheme: Symphonische Werke Vol.1
    Tragische Ouvertüre op. 10; Aus Odysseus' Fahrten 1-3

Saber Moroi: Symphonie Nr.3

Emil Nikolaus von Reznicek: Symphonische Dichtung "Der Sieger"

Felix Weingartner: Violinkonzert G-Dur op.52
      +Schubert / Weingartner: Symphonie E-Dur D. 729

Siegmund von Hausenger: Natursymphonie

Günter Raphael: Symphonien Nr.2-5

Benjamin Godard: Symphonien op.23 "Gothique" & op.57

Tilo Medek: Cellokonzert (1978/1982)

Alexandre Tansman: Werke für Klavier & Orchester

Dora Pejacevic: Symphonie fis-moll op.41

Excellent haul, Paul! 8)
Vaughan Williams
Symphony No. 8
Bryden Thomson, conductor
London Symphony Orchestra

Composer Discussion / Re: Vaughan Williams's Veranda
« Last post by Mirror Image on Today at 02:39:26 PM »
Two fine VW CDs arrived here this weekend. The overlap being the lovely 'Romance' (in chamber and orchestral versions) and the very enjoyable 'Fantasia on Sussex Folk Tunes' - a must-have for a resident of Sussex:
I enjoyed the Richard II Incidental Music (1944) very much.

Romance for Viola and Piano is absolutely gorgeous, Jeffrey. I must revisit this work tonight.
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