Deutsche Bank loan officer who provided Trump with $300m resigns abruptly

Outgoing president owes the bank $330m

Graig Graziosi
Tuesday 22 December 2020 22:09
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Trump received more than $2bn in loans from Deutsche Bank despite being 'deemed untouchable' by other institutions, report claims

Donald Trump and Jared Kushner's longtime banker at Deutsche Bank, Rosemary Vrablic, has resigned and will leave the bank next week.  

Ms Vrablic is responsible for arranging hundreds of millions of dollars worth of loans that Deutsche Bank provided Mr Trump over the years.

It was not immediately clear what caused her to leave the bank.  

The Manhattan District Attorney's office is currently investigating Deutsche Bank as part of its investigation into whether or not Mr Trump committed financial crimes. 

Ms Vrablic was a managing director and senior banker in the wealth management division.

The managing director - who had been with the company since 2006 - issued a statement announcing her resignation.

“I’ve chosen to resign my position with the bank effective Dec 31 and am looking forward to my retirement,” Ms Vrablic, 60, said in a statement on Tuesday.

A spokesman for Deutsche Bank, Daniel Hunter, confirmed that the company received Ms Vrablic's resignation.

“Rosemary Vrablic and Dominic Scalzi have tendered their resignations to Deutsche Bank effective as of year-end, which was accepted by the bank,” the spokesman said.

Ms Vrablic did not include a reason for her departure, aside from retirement.

The New York Times reported that in 2013, the bank opened an internal investigation into a transaction she made with Mr Kushner that involved real estate.

Dominic Scalzi, a colleague of Ms Vrbalic, who was also involved in that transaction, also announced his resignation.

Mr Scalzi and Ms Vrabalic joined the bank around the same time.

Ms Vrablic took on Mr Trump as a client in 2011, and managed to secure a $300m loan for him to use on his then-new golf resort in Miami, Florida, for his skyscraper in Chicago and for the renovation of the Old Post Office building, which was turned into a luxury motel.

Mr Trump currently owes the bank about $330m. Those loans are due in 2023 and 2024.

The president gave a personal guarantee to pay the loans back, which means the bank could pursue his assets if he does not pay them back. 

However, in November Reuters reported that Deutsche was looking to settle the loans somehow in order to end its relationship with the Trumps, apparently in a bid to end the negative publicity that has come with their business dealings with the family.

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