Deutsche Bank turns over Trump documents after Mueller subpoena

USA prosecutors probing Russia's election meddling have subpoenaed financial records from Donald Trump's long-time financiers Deutsche Bank, two sources said on Wednesday, but the White House denied the President was targeted directly.

President Trump owes Deutsche Bank over $300 million for real estate deals made prior to becoming president, and now Robert Mueller wants to take a closer look at Trump's accounts with the global megabank.

Mueller is investigating alleged Russian attempts to influence the 2016 US presidential election and potential collusion by Trump aides.

Bloomberg News corrected a major story that alleged the Justice Department had subpoenaed President Donald Trump's past financial records.

"No subpoena has been issued or received", White House Press Secretary Sarah Huckabee Sanders said in a briefing.

A USA official with knowledge of Mr Mueller's probe said one reason for the subpoenas was to find out whether Deutsche Bank may have sold some of Mr Trump's mortgage or other loans to Russian state development bank VEB or other Russian banks that now are under U.S. and European Union sanctions. "We have confirmed this with the bank and other sources", Dowd wrote in an email.

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At the bottom of the story is a small correction: "Corrects story published December 5 that said Mueller "zeroed in" on Trump's business dealings". The bank agreed to submit documents "on its relationship with [President] Trump and his family", which go back nearly 20 years, according to an anonymous source. The president's financial disclosure of June 16 reported $130 million in debt, a figure the bank has not publicly confirmed.

Instead of targeting Trump or his family's records, the subpoenas were aimed at records that pertain to people or organizations affiliated with the president, according to the corrected stories.

Mr Trump and Deutsche Bank have not always been on good terms.

Deutsche's connections to Russia aren't merely hypothetical: The bank has previously paid $670 million to US and United Kingdom regulators over its role in a Russian money-laundering scheme, but a Department of Justice inquiry into a $10 billion scheme has stalled for unclear reasons.

As Mueller's investigation unfolds, Trump has gone on the offensive. "And a $170 million loan to finish his hotel in Washington in the old post office tower".

In a July 9 interview with the New York Times, Trump said Mueller should not extend his investigation into Trump's finances if they were not directly related to the Russian Federation accusations. A second source familiar with the investigation said that the subpoena was linked to Mr Trump's indicted former campaign chairman Paul Manafort. In fact, Trump went on, because of the bank's role in creating this "once-in-a-century credit tsunami", Deutsche Bank owed him money, to the tune of $3 billion in damages.

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