Some of the world’s largest and most powerful banks spent the past decade mired in scandal, but none descended as far into ignominy as Germany’s Deutsche Bank. Its rap sheet includes a staggering array of ethical and legal lapses, including money laundering, tax fraud and sanctions violations — not to mention mysterious ties to President Trump that federal investigators are even now looking into.
Just how disconnected the bank became can be seen in its ongoing relationship with a then New York real estate developer named Donald Trump, whose multiple bankruptcies had made him a pariah in the banking world. One part of Deutsche Bank turned down Trump’s request for a loan. But the private banking division, which catered to the rich and famous, arranged the loan anyway — and then, when Trump stopped making payments, arranged another one.