BREAKING: Rosemary Vrablic, the longtime @DeutscheBank official who oversaw the @realDonaldTrump relationship, has abruptly handed in her resignation from the bank, I'm told. She's leaving effective 12/31. nytimes.com/2020/12/22/bus…
The exact reasons for Vrablic's departure – as well as the resignation of her longtime associate, Dominic Scalzi – aren't clear.

She doesn't have a new job lined up. She says she is leaving voluntarily and is looking forward to retirement.
Vrablic has been under intense scrutiny because of her role facilitating huge loans to Trump and Kushners.

Deutsche has been conducting a months-long internal review of a 2013 real estate deal involving her and a company part-owned by Jared Kushner.
The timing on Vrablic's departure is awful for @realDonaldTrump. He has about $330M in personally-guaranteed loans to Deutsche Bank coming due in the next few years.

With Vrablic gone, Trump's chances of refinancing those loans with Deutsche Bank just dropped precipitously.
Trump and Vrablic were pretty tight. In a NYT interview in early 2016, he repeatedly (and falsely) described Vrablic as "the head of Deutsche Bank." nytimes.com/2016/05/24/bus…

When he won the election, Trump got her VIP seating at his inauguration.
Updated story with lots more details on the circumstances of Vrablic's abrupt departure and the bank's internal review into potential conflict of interest. nytimes.com/2020/12/22/bus…

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More from @davidenrich

13 Nov
Here is @PorterWright resigning from the Trump case.
And here's our story on this –>
The law firm leading the Trump campaign’s efforts to cast doubt on the presidential election results in Pennsylvania has abruptly withdrawn from a suit it filed just days earlier. nytimes.com/2020/11/13/bus…
Read 5 tweets
9 Nov
NEW: The Trump campaign is gearing up for a legal blitz to challenge the 2020 election results.

Some lawyers at firms representing the campaign worry about violating the rule of law and eroding democracy. with @jbsgreenberg @RachelAbramsNY
nytimes.com/2020/11/09/bus…
One of the firms, Jones Day, is among the country's biggest.

Partners there have been grumbling about the close relationship with the Trump admin, where many partners have taken senior roles (incl Don McGahn).

Jones Day has earned $20M working for Trump and GOP in recent years. Image
In the hour since this article was published, the Trump campaign has filed a new federal lawsuit in Pennsylvania alleging voter fraud.

It was filed by Porter Wright, one of the firms where some lawyers are voicing ethical concerns about working for Trump. cdn.donaldjtrump.com/public-files/p…
Read 4 tweets
3 Nov
Good morning from Milkshake, who is blissfully unaware that today is Election Day. Image
Good afternoon from Milkshake, who is taking a power nap with her favorite monkey. Image
Milkshake and I have different ways of dealing with stress. ImageImage
Read 5 tweets
30 Oct
Three days after our story on @realDonaldTrump, @DeutscheBank and Chicago runs, I get a FOIA response with 2,000+ pages of documents. A fun Friday afternoon and evening awaits....
No surprise here, but interesting to see up-close how for every condo unit that @realDonaldTrump sold, money went straight to @DeutscheBank to repay Trump's defaulted loan.

Here's one example of an all-cash purchase in April 2012.
So many anonymous shell companies buying units. Here's just one.
Read 7 tweets
28 Oct
I have a few stray thoughts on @DeutscheBank and @realDonaldTrump in the wake of yesterday's story about the Chicago debacle.

Warning: This thread raises many more questions than it answers. There is still *so much* we don't know about Trump's finances. nytimes.com/2020/10/27/bus…
1. Why did DB release collateral on a Trump loan the day after the 2016 election?

It might be coincidence.

But recall that DB swung into cleanup mode post-election. It sold a big Russian loan. It banned staff from publicly saying “Trump.” It considered modifying Trump’s loans.
What makes this even weirder: DB on 11/9/16 released more collateral than it had to. Trump had repaid $24M; DB released $56M.

I’m told this was a *clerical error* that DB corrected. But it adds to the impression that this was part of the bank's effort to get distance from Trump.
Read 8 tweets
27 Oct
NEW: @realDonaldTrump's tax records show that big banks and hedge funds gave him hundreds of millions of dollars of financial breaks.

Trump managed to avoid paying taxes on almost all of it.

Latest in @nytimes tax series. by me, @russbuettner, etc. nytimes.com/2020/10/27/bus…
Trump's lenders forgave or canceled $287M in debt. The vast majority was related to Trump's Chicago skyscraper, which he built using borrowed money.

When Trump defaulted in 2008, creditors could have tried to seize the property. But they decided it wasn’t worth the fight.
Instead, hedge funds and private equity firms threw up their hands and forgave most of what Trump owed.

Two of those firms were run by men who later got roles in the Trump administration: @stevenmnuchin1 and Stephen Feinberg, who leads a White House advisory panel.
Read 10 tweets

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