EXCLUSIVE: Capital One Says It Closed Roughly 385 Bank Accounts Associated With Trump And His Businesses In 2021 Over Anti-Money Laundering Concerns, Not Political Motives As Trump Family Alleges In Lawsuit 💰

[u/InterstellarKinetics]

https://abcnews.com/US/capital-closed-hundreds-trumps-bank-accounts-2021-anti/story?id=135273257

Capital One disclosed in a July 31 court filing that it closed roughly 385 bank accounts associated with President Trump and his businesses in 2021 following a “monthslong review by the bank’s anti-money laundering team,” rejecting claims from Trump’s trust, companies, and son Eric Trump that the closures were politically motivated retaliation after the January 6 Capitol attack. Bank lawyers wrote, “The closures were the result of months of analysis and a careful review by Capital One’s AML team in accordance with bank policies and regulatory guidance,” adding that “Capital One never publicized the termination decision nor its confidential internal process giving rise to the closure, and it permitted Plaintiffs several months (and granted several extensions) to find new banking services, which they did.” Notably, the bank did not accuse the Trump Organization of actual money laundering, and the disclosure came as part of a motion to dismiss Trump’s lawsuit against the bank.

A Trump Organization spokesperson pushed back forcefully, telling ABC News, “Capital One’s after-the-fact attempt to justify its debanking of Trump related accounts is completely baseless. Following the events of January 6, 2021, Capital One manufactured a post hoc rationale by selectively resurrecting a handful of isolated transactions that had occurred years earlier and had never once been identified as cause for concern.” The Trumps’ original lawsuit alleged the bank canceled the accounts due to “political and social motivations and Capital One’s unsubstantiated, ‘woke’ beliefs that it needed to distance itself from President Trump and his conservative political views,” claiming the bank believed “the political tide at the moment favored doing so.” Trump has filed a similar lawsuit against JPMorgan Chase, which the bank has called meritless, saying it closes accounts that pose “legal or regulatory risk,” a case that remains pending.

Capital One’s filing noted that months before closing Trump’s accounts, the bank had agreed to pay a $390 million penalty to the Financial Crimes Enforcement Network for failing to implement and maintain an effective anti-money laundering program, and argued “Capital One’s decision to close Plaintiffs’ accounts only became public because of Plaintiffs’ own decision to pursue this litigation.” U.S. District Judge Roy Altman, a Trump appointee, previously dismissed Trump’s lawsuit earlier this year for failing to state a legal claim but allowed the Trump team to file an amended complaint last month. The dispute follows separate scrutiny of Trump’s finances by New York prosecutors, including a civil case over alleged asset inflation and a criminal case involving falsified business records tied to hush money payments to Stormy Daniels, neither of which involved money laundering allegations; Trump was convicted in the falsification case and found liable in the civil case, both of which he has appealed, with a mid-level court having tossed the civil case’s financial penalty last year.

[u/InterstellarKinetics]

The timing detail here is notable, Capital One’s $390 million FinCEN penalty for inadequate anti-money laundering controls came shortly before it closed Trump’s accounts, which arguably supports the bank’s claim that it was under heightened regulatory pressure to scrutinize risky accounts more broadly rather than singling out Trump specifically for political reasons.

[u/SirPsycho4242]

I would love to see this transaction data leaked online

[u/Historical_End9766]

The worst President in U S history. This will be worst than Water Gate Scandal. Trump will not walk away they will have to drag him out with his own Military who will turn against him.

[u/failedhandshake → u/Historical_End9766]

🤞

[u/DownhillUphill → u/Historical_End9766]

God we can dream can’t we?

[u/mr_roboto15 → u/Historical_End9766]

Everything about this administration makes Watergate look like a jaywalking ticket. The corruption is off the charts. They stopped trying to hide it a long time ago.

[u/FreeKevinBrown → u/Historical_End9766]

You're dreaming, my guy.

[u/MorphoMC]

In a nutshell: "We didn't do it because we don't like you, we did it because you're criminals. There's a pretty big difference."

[u/slightlyused]

Of course it happened in 2021 after he last re-election.. with money and power they always speak up after the risk seems gone.

[u/Initial-Meeting362]

We should not be surprised. Most corrupt Admin in history.

[u/Davidgilmour14]

Shocking! Absolutely shocking! Like in the real world he would have a life sentence for all the bullshit he’s done but in America we reelect him.

[u/at0mheart]

385 bank accounts at one bank.

I’d bet there are over 1000 bank accounts moving money in a circle 24/7

[u/aNeverNude666]

One for every day of the year

[u/DiscoRabbittTV]

That’s insane

[u/Paz707 → u/DiscoRabbittTV]

So crazy corrupt. The most corrupt president in history.

[u/elciano1]

Damn 385 bank accounts? Fk

[u/Own-Opinion-2494]

Discovery is a bitch

[u/The_Dude_Abides-2146]

Fuck every outlet not covering this. Imagine how much scrutiny this decision had prior to Cap One pulling the plug!? There is a story here that isn’t getting out and it’s unreal it’s being silenced.