You know you messed up big time when you’re an alleged billionaire and you can’t find a single bank willing to hang on to your money.
That’s Donald Trump‘s current dilemma. He keeps having his accounts closed by financial institutions that say his dollars are too toxic to keep in their treasuries.
The latest is Banks United, based in Miami Lakes, Florida, that just announced it has closed both of his money-market accounts, which were valued somewhere between $5.1 million and $25.2 million.
“We no longer have any depository relationship with him,” a Banks United spokesperson this week, without offering any explanation for why it shuttered the multi-million dollar accounts.
This is the second bank in Trump’s new home state of Florida to turn its nose up to the twice impeached ex-president.
Last week, Professional Bank, based in Coral Gables, announced that it, too, could no longer work with him or any of his organizations.
These latest rejections come after Signature Bank in New York and Deutsche Bank in Frankfurt, Germany also said they’ll no longer be conducting business with Trump, in part due to his involvement in the deadly insurrection on the U.S. Capitol earlier this month.
To make matters even worse for Trumpster, he owes over $300 million to Deutsche Bank, which is reportedly trying to offload the loans onto another lender due to the PR and legal nightmares its relationship with him has caused.
They say money talks.
Until it doesn’t.
Be best, Donald.
Graham Gremore is the Features Editor and a Staff Writer at Queerty. Follow him on Twitter @grahamgremore.
GlobeTrotter
See, that’s why narcissists are best left alone in peace. You don’t marry them, you don’t do business with them, you don’t have a drink with them, and for the love of God, you absolutely DON’T make them President!
AxelDC
The next time I want to hear the word “Trump” is when I’m playing Hearts. GTF out of my life!
Liquid Silver
We’ve started saying, “Ten, no *#&%.” It’s just a nicer, kinder word.
WSnyder
I’ve said this numerous times before, to see the ‘End’ of DJT and his company, just follow the Money, Stupid’. Conviction by the Senate, would be nice but it’ll only end his government pension, Secret Service protection and ability to run for office again. It’ll be the TAX fraud cases in NY and maybe even the Emoluments Cases in VA/MA that’ll do the greatest harm. Buildings are already wanting his name off them, his Golf Resorts are losing dues-paying members. NO building are wanting to contract with his management and having his name put on them. ANY profit he made by being President is hugely offset by the losses for his actions while being the same. His Empire is going down in flames.
I’m getting the marshmallows.
Essie
I think he keeps Secret Service no matter what else happens. The rest he will lose.
Openminded
Legal reports state that unless he was thrown out of office prior to end of his term and/or convicted while in office, he will not lose his benefits. Neither of these things happened so really the only benefit of convicting him now is the possibility of also preventing future runs for office and the biggest benefit, just to knock him off his self claimed pedestal. I know he still has a ton of radical right supporters right now, but I can’t honestly see the Republican party as a whole supporting the lunatic once their “butt hurt” heals and they hopefully start realizing who he is, what he did, and also realize the world is still spinning without him. I would like to see a swift impeachment trial with a guilty verdict just to send the message, but realistically, I don’t think it will materially matter either way. I’d rather see him banished from the U.S. and a Presidential order that no more news articles can cover the Trump family.
Cam
@Openminded
Except that’s a lie. “Legal Reports” say no such thing.
But it’s no shock that one of the other screenames for “Roy Ajax” is continuing to post whatever it can to help out Trump.
Again, you aren’t good at this troll.
Kangol2
I could see some bank in UAE, Saudi Arabia, Russia, or Israel; a sovereign wealth fund; or a powerful billionaire oligarch or coalition of them bailing him and his businesses out. Remember, despite leaving the US economy in shambles and a creating a series of foreign policy messes, he’s made all of those countries as well as US and global billionaires considerably more powerful and richer over the last four years.
GlobeTrotter
They already did! How do you think he got that $400 million loan from Deutsche Bank? He was so broke at the time and had defaulted on so many loans that no bank in their right mind was willing to lend him any more money. Trump however was in desperate need of a huge loan to keep himself and his business affairs afloat, and so he turned to his Russian oligarch friends from his time in Moscow. They agreed to co-sign that loan from the Deutsche Bank, which was what saved his ass from the financial ruin of the century. As anyone who knows Russia knows, Putin is the baddest MOFO mafia boss in charge of every oligarch in Russia. They don’t get to sneeze unless he says so. This explains why Trump was so uncharacteristically deferential to Putin and fought so hard to keep his tax returns from seeing the light of day – he is in debt to Putin and his oligarchs to the tune of $400 million. One could therefore argue that the United States was a vassal state to Russia during the Trump presidency. The full scale of Trump’s corruption during his presidency has never been really told, but when it does come to light, there will be much weeping and nashing of teeth among the GOP for allowing this abominable monstrosity to go unchecked for four long years!
Ginger Tom
Globetrotter I think you and Kango12 are both pretty much on the nail with your comments. I would question how the GOP will deal with it when all the full grisly details emerge as I suspect Trump was not the only one taking loans or payments or other emoluments from Russia and in particular the Russian Mafia prop. V. Putin. They have bought their way into the UK government so one assumes they have a fair number of GOP stalwarts on the payroll.
Creamsicle
@GlobeTrotter, there are plenty of credible longform journalism stories supported by years of rigorous research tracking down former Trump org employees and contractors. Donald Trump was a foreign asset years before he ever came down that escalator and announced his PR stunt presidential campaign.
An entire swathe of America refused to belief it because he became THE icon of their White Identity Politics. Former Trump employees have gone on record saying that their projects would operate in the red for long stretches until they got random large infusions of cash from poorly explained sources. They were instructed to pass on many favorable loan offers because they preferred to go with loans from Russian oligarchs and Putin.
The Trump organization’s days are numbered. Their businesses hemorrhage money to the point that the Scottish government is investigating one of his properties because objective analysis indicates it is designed to lose money, and that is indicative of a large-scale money laundering operation.
Essie
Your life is pretty shitty when no bank will keep $25M of your money. These banks must have heard an ear full from their rich customers.
Cam
He’s not on TV anymore and everybody knows he is in massive debt. These banks are smart. Most U.S. banks stopped working with Trump years ago. Deutchbank kept dealing with him, but they’ve been a funnel for Russian money laundering for years.
Fname Optional Lname
Why would he ever need to borrow from a bank? According to him he’s “like really rich”! LOL he is crapping his pants right now while Don Jr and Eric are crying in the basement because they thought Daddy would be the next Hitler who would take on the world but instead he wound up in a cheesy resort in Florida hanging out with the My Pillow guy!!!
Openminded
I think the word you was looking for is “Bigly Rich”.
BGreen1963
He was the “next Hitler” and the next “Bernie Maddov”. Trumps bunker is burning, BUT “Eva Braun” is going to do a runner. Personally, I think they should lock up him and his kids-they are all severe flight risks, The charges are coming. And his pardons are going to get thrown out by “his” Supreme Court. Before at least, Trump would be adopted by The Aryan Brotherhood, but now those guys know what a lying piece of loser crap he is. The Aryan and Muslim Brotherhoods are going to have some things to discuss with him while he licks their balls.
how55
You people are so full of hate and full of shit. Your fcking idiots and have listen to to much cnn
rand503
Next time I need to dump someone from my life, I will say, “I don’t even want a depository relationship with you.”
GayEGO
Dummy Donnie is gonna have the New York lawyers after him regardless of where he pretends to live!
HankHarris
I hope he loses everything.
Liquid Silver
Strangely, I’m still having this weird decompressing feeling from the Trump Administration. It’s like the rain finally stopped and there’s actually sunlight out there.
These stories seem almost surreal to me.
TMBisAOK
Nobody is talking about the hundreds of millions of dollars his supporters have sent him in the recent months, even AFTER the election. What can he do with that money? Can he keep it if he doesnt ever run again? My fear is if not convicted he will have a huge slush fund to run again. Would our hope then be on state convictions? Is he facing felony charges? Can a convicted felon run for president? Dogcatcher? Lol
Terrycloth
I’m sure the FBI already confiscated his passport. Malaria probably served him.with divorce papers..get your money honey before the lawyers and lawsuits do
Caddy4J
Wow, Where do you all you get your information from?? Oh, I know, that very radical left leaning cable news outlet and all the Hacks working there to deliver your daily dose of conspiracies. Again, WOW!!!!! And @Cam, grow the F up! Because, you’re still are an idiot!!
how55
Screw all the swamp start your own bank or use a Russian bank. They hate the Chinese and they will work with you. Screw China Joe and all the swamp he rode in on
cuteguy
I think he should open Trump banks and make it the same success that Trump university was. He already has m0rons willing to riot the Capitol for him, he can easily con them out of their welfare checks. Soon you will see plenty of white trash without a trailer home.