Deutsche Bank has initiated an internal probe into Rosemary Vrablic, the longtime personal banker for President Donald Trump and his son-in-law, Jared Kushner, to ascertain if she acted improperly when she and two colleagues purchased an apartment for about $1.5 million in 2013 from Bergel 715 Associates, The New York Times reported on Sunday.
The move was prompted by a financial disclosure report filed Friday by Kushner and his wife, Ivanka Trump, which said they had received $1 million to $5 million from Bergel 715 last year, the first time it has been known the couple had an ownership stake in the company.
A person familiar with Kushner's finances told the Times he had an ownership stake in Bergel 715 at the time Vrablic bought the apartment, although the income reported last year is not connected to that transaction.
Deutsche Bank did not know Vrablic had bought the apartment from a company Kushner had a stake in until the Times revealed it, according to the paper.
It is common for banks to bar employees from carrying out personal business with clients in order to avoid any possibility of conflicts of interest.
At the time of the purchase, Kushner and Trump had already received about $190 million in loans from Deutsche Bank, and both were given hundreds of millions of dollars in loans after that, according to the Times.
However, the newspaper noted there is no evidence that the purchase of the apartment was at a below-market price.
Kushner Companies general counsel Christopher Smith told The Hill that "Kushner is not the managing partner of that entity and has no involvement with the sales of the apartments."
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