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21 Oct, 4 tweets, 3 min read
The board of directors of Leon Black's Apollo is launching an investigation of Black's ties to Epstein in wake of last week's @nytimes story. wsj.com/articles/apoll…
This article describes the Apollo investigation as coming at Black's request. He hopes "to put to rest renewed speculation into the nature of his ties to Mr. Epstein."

[One way to put speculation to rest would be to explain why he paid Epstein >$50M for tax/estate services.]
Spokeswoman for @apolloglobal confirms to @MattGoldstein26 that the board hired an outside law firm to investigate Black's ties to Epstein following our story last week. nytimes.com/2020/10/12/bus…
ICYMI last night, the private equity firm Apollo has launched an internal investigation into billionaire Leon Black’s long, $50M+ relationship with Jeffrey Epstein, following @nytimes reporting last week. nytimes.com/2020/10/20/bus…

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More from @davidenrich

David Enrich Profile picture
20 Oct
It looks like @GoldmanSachs is going to avoid any criminal liability for its involvement in the huge 1MDB scandal in Malaysia. bloomberg.com/news/articles/…
Goldman's then-CEO, @lloydblankfein, was among the senior execs who were exposed in this scandal.

Yet the bank is getting off with a financial penalty that probably won't dent its quarterly profits (since it's already set aside money for a settlement). nytimes.com/2018/11/22/bus…
But wait – @wsj is reporting that Goldman will admit wrongdoing and an Asian subsidiary will plead guilty.

That is a more severe penalty than I said in my original tweet (but still not likely to have a very significant impact on the bank). wsj.com/articles/goldm…
Read 4 tweets
David Enrich Profile picture
16 Oct
NEW: It's the world's most expensive "peanut" –– @realDonaldTrump and his companies owe more than $620 million, according to a @nytimes tally from his federal tax returns.

Most, as you know, is owed to @DeutscheBank. with @russbuettner @susannecraig nytimes.com/2020/10/16/us/…
Of that $620M+, Trump personally guaranteed $421M.

That means, if he were to default, a foreign institution –– @DeutscheBank –– could come after the president's personal assets.

(The other $200M+ is not personally guaranteed.)
Before you deluge me with comments about how the Russians actually lent/guaranteed this money, there is nothing in his loan documents to support this.

At least with Deutsche, Trump is the only one who signed or guaranteed the loans. And Deutsche still holds the debt.
Read 5 tweets
David Enrich Profile picture
12 Oct
NEW: Leon Black, one of Wall Street's most powerful men, has said his relationship with Jeffrey Epstein was very limited.

In reality: They were close personally and Black transferred Epstein at least $50M in recent years. with @MattGoldstein26 @SteveEder nytimes.com/2020/10/12/bus…
@DeutscheBank found that Epstein's bank accounts received transfers tens of millions of dollars from LLCs controlled by Black – even after the bank's anti-financial crime officers raised questions about the transactions.

We reviewed portions of Deutsche's internal report.
At the same time, Black was socializing with Epstein, joining him for meals, yachting and visits to Harvard.

There is a contrast between what we've found in our reporting and how Black described his relationship to investors last year. (Black's firm, Apollo, is publicly traded.)
Read 9 tweets
David Enrich Profile picture
7 Oct
New: The Trump admin last month awarded hundreds of millions of dollars of contracts for medical gowns for frontline workers.

The recipients were tiny companies with scant contracting experience. @dgelles @RachelAbramsNY nytimes.com/2020/10/07/bus…
Two of the companies are working with an ex-NFL player with at best a shaky record. He’s teamed up with the arms dealer portrayed by @JonahHill in “War Dogs,” who was banned from federal contracts.

Another company was founded this year by a former Trump admin official.
The contracts — which are supposed to replenish the national stockpile of protective gear — have triggered complaints to the Pentagon and @USGAO and questions from US senators.

The Defense Dept says it handled the contracts properly.
Read 4 tweets
David Enrich Profile picture
30 Sep
1/ Remember how, last year, @DeutscheBank told a federal court that it did not have @realDonaldTrump's tax returns? nytimes.com/2019/10/10/bus…
2/ This was very surprising to me, as I'd previously reported that Deutsche did have portions of some returns.

When I told a former exec about what DB had told the court, he was stunned – he said he had seen the returns with his own eyes.
3/ I've been wondering about this ever since. And while I don't have a clear answer of what happened to the returns, I just found what looks like proof that Deutsche Bank at one time did have some of Trump's federal income tax returns (along with other financial information).
Read 7 tweets
David Enrich Profile picture
30 Sep
If @DeutscheBank is mentioned in tonight’s debate, I will drink one of my favorite whiskeys. If “Deutsche” is pronounced correctly, I will drink more. (Actually I’ll be drinking regardless.)
For those wondering, it’s pronounced DOY-chuh. (And yes my sons and I are really into Legos)
I will take this as my cue to start drinking.
Read 5 tweets

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