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5/20, 11:01 PM (Source: TeleTrader)
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Deutsche Bank accuses NYT of 'misleading' public

German financial institution Deutsche Bank stated on Monday that the earlier media reports which allege it tried to cover up a series of suspicious transactions the United States President Donald Trump contained "numerous inaccuracies" and "misleading statements." Deutsche Bank added that it stands by its statement made to the US Senator Chris Van Hollen in 2017, who was investigating this issue two years ago.

"We are safeguarding the integrity of the decision-making process with respect to clients that hold public office or perform public functions in the US. As we further pointed out at the time, state and federal law require that the bank maintain the privacy of its customers and the confidentiality of information relating to those customers. Legal restrictions on the bank prevent us from refuting publicly, and in detail, the inaccuracies in The New York Times story," the statement concluded.

The New York Times previously reported that the transactions connected to Trump and his son-in-law Jared Kushner in 2016 and 2017 were not properly flagged by its staff and that it has "brushed away" money-laundering concerns in this case. After that, the US president took to Twitter, slamming the media and praising Deutsche Bank for its professionalism. Deutsche Bank's shares fell 2.89% during Monday's trading session.

Breaking the News / MA