Capital One has announced that it has closed Trump Organization accounts due to patterns showing money laundering.
What? You mean that a mobbed up real estate developer from New York City might be laundering money?
Pshaw!
Capital One Financial hit back on Friday against a lawsuit over its decision to close the Trump Organization’s bank accounts years ago, stating that it did so after a review by anti-money-laundering experts.
The disclosure marks the first time a bank has formally tied money-laundering concerns to Donald Trump’s family business. Capital One is seeking to dismiss the case by casting doubt on claims of illegally debanking – or denying services on religious or political grounds – the Trump Organization.
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Capital One has never accused the Trump Organization of money laundering. But Friday’s filing argues that “documents and Plaintiffs’ own allegations make clear that Capital One closed Plaintiffs’ accounts for anti-money laundering (‘AML’) reasons.
“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.”
Capital One gave notice of its plans to close more than 300 Trump-affiliated bank accounts in March 2021.
300 accounts?!?!!?
Nope, no money laundering there.
………Gee, ya think?
“The transaction patterns identified by Capital One are among the types of activity flagged by federal banking guidance,” the filing said.
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