Bloomberg's Politics division reported early Tuesday that Robert Mueller, the special counsel for the Justice Department, had issued a subpoena to Deutsche Bank that had "zeroed in" on the financial records of the Trump family.
Following the orders of a subpoena, Deutsche Bank - one of the Trump Organisation's biggest lender - handed over all documents concerning the Trump family, The Washington Times reports. It's unknown if the subpoena is related to Mueller's investigation into Russian meddling in the 2016 election, or rather part of a separate investigation.
Bloomberg News corrected a major story that alleged the Justice Department had subpoenaed President Donald Trump's past financial records.
"We confirmed that the news reports that the special counsel had subpoenaed financial records related to the president are completely false", Sanders said during the White House's daily press conference.
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According to media reports, Mr. Trump owed Deutsche Bank as much as $340 million (€286.5 million) at one point, though considerable restructuring appears to have brought down that amount. "We have confirmed this with the bank and other sources", Jay Sekulow, a member of Trump's legal team, said.
After the original loan, the same division of the bank continued to lend to Trump: "He took out two mortgages against Trump National Doral resort in Miami".
"We have confirmed that the news reports that the special counsel had subpoenaed financial records relating to the President are false", Mr Sekulow said in a statement.
Deutsche Bank earlier this year rebuffed efforts by Democratic U.S. lawmakers to get more information on its dealings with Trump as well as any information it may have about whether the Republican, his family or advisers had financial backing from Russian Federation.
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The bank also lent up to $170 million for the Old Post Office, a Washington property he converted into a hotel, and up to $640 million for the Trump Intl Hotel and Tower, Chicago, according to the news agency.
As Mueller's investigation unfolds, Trump has gone on the offensive.
Trump and Deutsche Bank have not always been on good terms. And the other line is Deutsche New York's extraordinary lending to Trump. The former real-estate baron has done billions of dollars' worth of business with Deutsche Bank over the past two decades, and First Lady Melania, daughter Ivanka and son-in-law Jared Kushner are also clients.
During his election campaign, Mr Trump said he would seek to improve ties with Russian President Vladimir Putin, which were strained during former president Barack Obama's administration.
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In October, Manafort pleaded not guilty to charges including conspiracy to launder money and conspiracy against the United States.