Adam Schiff (D-Calif.) has plans to subpoena President Trump’s personal business records with Deutsche Bank.
Speaking to The New Yorker, Schiff says he plans to get to the bottom of how the bank’s loans tie into Trump’s financial interests in Russia and how those payments could be affecting the POTUS’ foreign policy positions.
When Democrats take over the House of Representatives in January, Schiff is expected to be named as Chair of the House Intelligence Committee. That position will give him the power to launch overdue investigations into the Trump administration.
“We are going to be looking at the issue of possible money laundering by the Trump Organization, and Deutsche Bank is one obvious place to start,” Schiff told The New Yorker,
As Hill Reporter recently reported, Trump’s financial dealings with Russia are murky at best. After a failed attempt to work with Russia on the funding of Trump Tower Moscow, Trump reportedly worked out a deal to broker a 19% sale of Russian oil giant Rosneft. That deal may have earned the Trump Organization a whopping $300 million. In less than one year’s time, Russian bought back its own interest in the firm which is largely owned by Putin and his Russian Oligarch friends.
In news that should worry President Trump, Schiff already has the full support of House Minority Leader Nancy Pelosi.
“I have complete confidence in him to be very strategic in how he returns the Intelligence Committee to a bipartisan arena, without doing what Devin Nunes did as chairman of the committee, which I thought bordered on the criminal,” Pelosi told The New Yorker.
Democrats taking over the house, Pelosi in specific, have already promised to release Donald Trump’s tax returns, something his Republican counterparts have refused to do for the previous two years.
What's Your Reaction?
James Kosur is the former Editor-In-Chief and co-founder of Hill Reporter. He recently served as an editor for Business Insider and various other publications. James and his partners sold Hill Reporter to a new owner in July 2019.