According to a new report published by The New York Times, Deutsche Bank has launched an internal investigation into the longtime personal banker for President Trump and his son-in-law, Jared Kushner.
The Times reported Sunday that the bank was looking into Rosemary Vrablic after she and two colleagues bought an apartment for about $1.5 million in 2013 from Bergel 715 Associates.
In a financial disclosure report filed Friday, Kushner and his wife, Ivanka Trump, said they had received $1 million to $5 million from Bergel 715 in 2019. The couple had not previously reported having an ownership stake in the company.
Citing a person familiar with Kushner’s finances, The Times reported that he had an ownership stake in Bergel 715 at the time Vrablic bought the apartment. The 2019 reported income is unrelated to Vrablic’s purchase in 2013.
According to the report, Deutsche Bank did not know Vrablic and her colleagues had bought the apartment from a company Kushner had a stake in until it was contacted by the newspaper.
“The bank will closely examine the information that came to light on Friday and the fact pattern from 2013,” bank spokesman Daniel Hunter said.
Vrablic was Kushner and President Trump’s personal banker at the time of the 2013 sale and had received about $190 million in loans from Deutsche Bank. Both were also granted hundreds of millions of dollars after that point, according to the Times.
Kushner testified during a 2017 closed-door House Intelligence Committee meeting that he introduced Vrablic to the president.
The president borrowed $175 million for his Doral golf resort and the Trump International Hotel & Tower in Chicago in 2012. The bank had also lent him money to create his Trump International Hotel in Washington, D.C., out of the Old Post Office building.
Banks usually prohibit employees from conducting personal business with clients out of concerns of conflicts of interest.
Vrablic’s lawyer, a senior private banker and managing director at Deutsche Bank, declined to comment to the Times.