Trump Fails Money Laundering Investigations
Who knew that Capital One closed 385 Trump Organization bank accounts after a lengthy money laundering investigation and that JPMorgan Chase also closed Trump accounts
***Please take out a membership to support the light of truth.***
I know that it was naive of me to believe that corporate America would stand up to veteran criminal and Russian asset Donald Trump in 2016, after a perfect storm of fuckery installed him into the White House.
I believed that democratic principles would prevail — and that US business leaders and policy makers would not want to end up like those who supported Hitler in his rise.
From his fascist rhetoric to his Russian kowtowing, Trump made clear who he was, and I was certain corporate America would rebuke him.
I realize, of course, I was wrong.
Bitterly wrong.
I realize that greed had poisoned men’s souls.
I knew I was wrong the moment I saw Mitt Romney dining with Trump on November 29, 2016.
In March of that year, Romney had savaged Trump as a “con man.”
But three weeks after the election, the former Massachusetts governor was gushing over Trump.
As Politico reported, “Mitt Romney showered Trump with uncharacteristic praise, minutes after polishing off a dinner of frog legs, scallops, and lamb chops with the president-elect at the Tony Jean-Georges restaurant in Trump International Hotel in New York.”
“I happen to think that America’s best days are ahead of us,” he said. He also said that he has “increasing hope that President-elect Trump is the very man who can lead us to a better future.”
As I poured through author Keir Giles upcoming book, American Overthrow, I was literally sickened by Trump and his loyalists’ overt corruption and the willingness of corporate America to simply pay the vig.
It’s a very short-sighted view, to pay bribes to do business.
I recall two decades ago, when IKEA was forced to pull out of Russia due to “pervasive corruption and demands for bribes.”
When Apple’s Tim Cook showed up in the Oval Office with a tchotchke made of 24-karat gold — in a performative “USA” promo — what he really emerged with was tariff exemptions.
As Keir notes in his book, this would be perfectly normal if this occurred in Russia.
In the first 18 months of his second administration, Trump and his loyalists are working hard to normalize corruption, so this week’s intrusion to Trump’s alternate reality — that Capital One closed 385 Trump Organization bank accounts in 2021 due to “months-long anti-money laundering review” — is rather refreshing.
We only learned of the money laundering review and account closures because Capitol One asked a federal judge to dismiss a lawsuit brought by the Trump Organization, which claimed the closures were politically motivated.
Interestingly, Capitol One wasn’t alone in accusations of “debanking” Trump.
A separate case was filed in January against JPMorgan Chase over accounts also closed in 2021. Trump is suing JPMorgan and its CEO Jamie Dimon for $5 billion over alleged “debanking.”
In its defense, the bank said in a statement that JPMorgan Chase “does not close accounts for political or religious reasons. We do close accounts because they create legal or regulatory risk for the company.”
According to retired IRS criminal investigator Martin Sheil, who led a money laundering tutorial for the Bette Dangerous community over the holidays, “money laundering is defined as engaging in financial transactions with proceeds derived from specified unlawful activity (known as an SUA) with the intent to either promote the SUA or conceal the SUA.”
It’s not unusual for Trump to target banks — recall, nearly two decades he sued Deutsche Bank after he defaulted on a loan, and he also sued Deutsche Bank and Capital One in 2019 to prevent them from turning over documents about the Trumps and their business to Congress.
It’s weird having to report this — like I’m reporting on a dictator in some part of the world where big C corruption is normal.
But in 2016, when corporate America rolled over, when they chose to go along with an obvious fascist, rather than do the right thing — the hard thing — and resist, they are now responsible for the cruelty and brutality of this regime.
I hope they’re enjoying their tax breaks.
****
****
Bette Dangerous is a reader-funded magazine. Thank you to all monthly, annual, and founding members.
I expose the corruption of billionaire fascists, while relying on memberships for support.
Thank you in advance for considering the following:
Share my reporting with allies
Buying my ebooks
A private link to an annual membership discount for older adults, those on fixed incomes or drawing disability, as well as activists and members of the media is available upon request at bettedangerous/gmail. 🥹
More info about Bette Dangerous - This magazine is written by Heidi Siegmund Cuda, an Emmy-award winning investigative reporter/producer, author, and veteran music and nightlife columnist. She is the cohost of RADICALIZED Truth Survives, an investigative show about disinformation and is part of the Byline Media team. Thank you for your support of independent investigative journalism.
🤍
Begin each day with a grateful heart.
🤍