President Donald Trump blasted The New York Times in response to a report that said many banks did not want to do business with him, stating that the story is “fake news” adding that the newspaper will fold, Fox News informed.
The article in the newspaper focused on allegations that transactions made by entities controlled by Trump and Jared Kushner through Deutsche Bank raised flags, but that the bank did not make a thorough investigation. It also said that other banks would not deal with Trump.
“The Failing New York Times (it will pass away when I leave office in 6 years), and others of the Fake News Media, keep writing phony stories about how I didn’t use many banks because they didn’t want to do business with me,” Trump said in the first of a series of tweets. “WRONG! It is because I didn’t need money.”
“Now the new big story is that Trump made a lot of money and buys everything for cash, he doesn’t need banks. But where did he get all of that cash? Could it be Russia? No, I built a great business and don’t need banks, but if I did they would be there.”
The article, which was published on Sunday, cited former Deutsche Bank employees who recalled that several transactions made by Trump-controlled entities triggered alerts about possible suspicious activity. The story also noted that real estate developers often engaged in cash transactions that resulted in such alerts, despite banks later finding no improper activity.