Deutsche Bank fined $630 million for $10 billion Russian money laundering scheme

Deutsche Bank paid $630 million to U.S. and UK regulators for facilitating $10 billion in Russian money laundering through “mirror trades” from 2011-2015. The scheme converted rubles to dollars through sham stock trades between Moscow and London offices. During this same period, Deutsche Bank was Trump’s primary lender, providing $2.5 billion in loans while other banks refused. Compliance officers later flagged suspicious Trump and Kushner transactions to Russians, but executives overruled reporting them.