Florida bank says it has closed Trump's accounts
A Florida bank announced Thursday that it has closed down former President Trump’s account, joining a growing list of entities that have cut ties with the former president following the deadly Jan. 6 Capitol riot.
In his financial disclosures, Trump had stated he had two money-market accounts with Banks United, The Washington Post reports. The accounts held somewhere between $5.1 million and $25.2 million.
“We no longer have any depository relationship with him," said Banks United, without giving reasons for its decision to shutter the accounts.
Another Florida bank, Professional Bank, last week announced that it would be cutting ties with Trump, saying it would no longer conduct business with the former president or his organizations.
Signature Bank in New York and Deutsche Bank have also said they will no longer be conducting future business with Trump. Signature Bank notably took a strong stance against Trump and his allies in Congress, calling for him to resign and saying it would not conduct business with lawmakers who had objected to certifying the presidential election.
Deutsche Bank is seeking to resolve more than $300 million in loans, reportedly looking to offload the loans onto another lender due to the negative press their dealings with Trump has caused. Deutsche Bank's relationship with the Trump Organization is under a civil investigation by New York attorney general Letitia James.
James is investigating claims made by Trump's former personal attorney Michael Cohen that he had inflated the value of his assets and financial statements. Though the investigation is civil, James has said criminal charges may arise if anything suggesting criminality is discovered during her probe.
Manhattan district attorney Cyrus Vance is also conducting an investigation into whether or not Trump misrepresented the value of his assets in order to receive larger tax deductions.
Vance recently expanded his investigation to include the Trump family's Westchester County estate, a historic mansion called Seven Springs, built by former Washington Post publisher Eugene Meyer.
It’s sleepy by Donald Trump’s standards, but the former president’s century-old estate in New York’s Westchester County could end up being one of his bigger legal nightmares. Seven Springs, a 213-acre swath of nature surrounding a Georgian-style mansion, is a subject of two state investigations: a criminal probe by Manhattan District Attorney Cyrus Vance Jr. and a civil inquiry by New York Attorney General Letitia James. Both investigations focus on whether Trump manipulated the property’s value to reap greater tax benefits from an environmental conservation arrangement he made at the end of 2015, while running for president.
Senator Lindsey Graham has defended his refusal to abandon Donald Trump in the aftermath of the deadly attack on the Capitol, saying that though the former president has “a dark side … what I’m trying to do is just harness the magic”. He also said Trump’s continued grip on the Republican party could make it “bigger, he can make it stronger, he can make it more diverse. And he also could destroy it.”
Donald Trump could arrive in New York City for his first visit since leaving the White House as soon as Sunday night, according to multiple reports. The former president was born in Queens and rose to fame in Manhattan but changed his primary residence to Florida in 2019 and has been at his Mar-a-Lago resort in Palm Beach since leaving Washington on 20 January.
Donald Trump has sent legal warnings to the three biggest fundraising entities for the Republican Party, ordering them to stop using his name and likeness on emails and merchandise, according to a new report. Trump's lawyers sent the cease-and-desist letters on Friday to the Republican National Committee, National Republican Congressional Committee, and National Republican Senate Committee, a Trump advisor told Politico. 'President Trump remains committed to the Republican Party and electing America First conservatives, but that doesn't give anyone - friend or foe - permission to use his likeness without explicit approval,' the advisor said.