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New: A @nytimes investigation found a pattern of insiders at biotech companies selling shares shortly after announcing incremental progress on coronavirus vaccines. When their stock prices jumped, they sold $1 billion+ of stock. @dgelles @JesseDrucker nytimes.com/2020/07/25/bus…
For example: In June, the biotech company Vaxart gave stock options to its CEO and agreed to let its top shareholder quickly buy and sell its shares.

Weeks later, Vaxart said it was selected for Operation Warp Speed, the federal vaccine initiative. Its shares instantly doubled.
The CEO's stock awards went from $4m to $28m. Vaxart's top shareholder immediately sold all its shares, netting $200m of profits.

@HHSgov tells us Vaxart's Warp Speed work is confined to a single monkey trial. HHS officials suspect Vaxart is citing Warp Speed to hype its stock.
Execs and board members from at least 10 other companies have sold shares after positive vaccine news and/or received stock awards shortly before such news. The companies include @moderna_tx @Regeneron @Novavax

Read the story – there's lots more. nytimes.com/2020/07/25/bus…
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David Enrich
@davidenrich
Breaking: NY prosecutors have subpoenaed @DeutscheBank for its records related to @realDonaldTrump and his businesses.

Deutsche Bank *has complied*, providing extensive documents and other materials. w @benprotess @WRashbaum @BenWeiserNYT @kirstendanis nytimes.com/2020/08/05/nyr…
This is the first time that Trump's long, tortured history with Deutsche Bank has been the subject of a *criminal investigation*.

And unlike Congress's [so far] unsuccessful subpoenas of Deutsche last year, this time the authorities have gotten their hands on the DB materials.
The @ManhattanDA appears to be investigating potential crimes involving bank fraud.

Michael Cohen testified that Trump routinely inflated his asset values as he sought financing.

Deutsche execs viewed Trump's valuations as wildly optimistic and sometimes reduced them by 70%.
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David Enrich
@davidenrich
Exclusive: @DeutscheBank is launching an internal investigation into Rosemary Vrablic, the personal banker to the Trump and Kushner families.

The review relates to a 2013 personal transaction between Vrablic and a company tied to Kushner. w/ @JesseDrucker nytimes.com/2020/08/02/bus…
In 2013, Vrablic and two of her Deutsche employees bought a Park Ave apartment for $1.5 million from "Bergel 715 Associates."

On Friday, Jared Kushner for the first time disclosed a stake in Bergel. Sources confirmed to @nytimes that he had the stake at time of the Vrablic deal.
At the time of the 2013 transaction, Trump and Kushner were Vrablic’s clients, receiving and seeking big loans.

Typically banks restrict employees from personal financial dealings with clients.

Deutsche hadn’t known about this until @nytimes contacted the bank on Saturday.
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David Enrich
@davidenrich
In about two hours, the Supreme Court will announce its decision in @realDonaldTrump v. @DeutscheBank and Mazars.

The ruling will determine whether the public has any chance of better understanding the finances of the president, his family and his company before Election Day.
The stakes are much higher than Trump’s tax returns.

Congress has subpoenaed a wide range of records from Deutsche Bank, which could answer many of the questions about Trump’s business partners, sources of cash, potential money laundering, etc.

Take a look at the subpoena ⤵️⤵️
Anticipating a SCOTUS ruling?
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