Trump family banker ousted from Deutsche Bank over real estate deal

Former President TrumpDonald Trump Pelosi Urges Newsom To Pick Ship For Next California AG: Palm Beach City Attorney Says Trump Should Be Able To Live On Mar-a-Lago Heliport Trump In Mar-a-Lago To Soon MORE about to be demolishedThe banker at Deutsche Bank lost her job in December after an internal investigation found she failed to properly disclose her dealings with a customer.

According to regulatory records released Wednesday by the Financial Industry Regulatory Authority, Rosemary Vrablic, a senior private banker for the company and chief executive of the asset management team, “performed undisclosed activities related to a real estate investment … including purchasing the property from a client managed one Company and the formation of an unapproved outside company to hold the investment. “

The records state that Vrablic “was allowed to resign”.

The internal review focused on a 2013 deal that Vrablic made with Bergel 715 Associates. The investigation sparked after the New York Times reported that Vrablic and two of her co-workers bought an apartment in Manhattan for $ 1.5 million.

Trump and Jared KushnerJared Corey KushnerJared Kushner, Ivanka Trump Report M Income Drop Biden Promises No Family Members Will Work In The White House Dershowitz nominated Kushner, aide for Nobel Peace Prize MOREHis son-in-law and former senior advisor had reportedly already borrowed approximately $ 200 million from Deutsche Bank. Kushner had a small stake in Bergel 715 Associates. This is evident from a financial report he filed in 2020.

It was not immediately apparent from Wednesday’s disclosure whether Kushner’s involvement in the transaction played a role in Vrablic’s dismissal.

Vrablic reportedly worked on the deal with Dominic Scalzi, one of their bankers, as well as Scalzi’s nephew, another Deutsche Bank employee. The bank released an identical disclosure to Scalzi’s December layoff while his nephew had left the bank at the time of his uncle’s fall.

Deutsche Bank, reportedly due to Vrablic’s efforts, stayed with Trump as he has been largely shunned by the financial world throughout his bankruptcy history. However, last year the bank reportedly decided to sever ties with the former president and his company.