Trump’s longtime Deutsche Bank lender forced out over real estate deal with company linked to Jared Kushner
Former president Donald Trump’s longtime banker at Deutsche Bank lost her job late last year after an internal investigation found she had improperly done business with a client.
Newly revealed regulatory records show Rosemary Vrablic, a senior private banker and managing director of wealth management business in New York, had bought property from a “client-managed entity” without properly disclosing the investment, reported the New York Times.
Records filed with the Financial Industry Regulatory Authority show Vrablic, who had persuaded the bank to loan money to Trump when he was frozen out by most lenders before his presidency, was “permitted to resign” in December.
Deutsche Bank’s internal review, which was prompted by a Times report, found that Vrablic and two colleagues had bought a Park Avenue apartment for about $1.5 million in 2013 from Bergel 715 Associates — which was partially owned by Jared Kushner, Trump’s son-in-law and then senior White House adviser.
Trump and Kushner had borrowed nearly $200 million from Vrablic’s division at Deutsche Bank at the time of the purchase, and they ended up borrowing even more.
It’s not clear whether Deutsche Bank was concerned about the Kushner’s connection to the transaction, but the Times made clear that one of Bergel 715 Associates, and not Ivanka Trump’s husband, was also a client of Vrablic’s.
Vrablic’s partners on the transaction were Dominic Scalzi, a banker who reported to her and resigned when she did, and Scalzi’s nephew, who worked at Deutsch Bank at the time.
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