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France 24
France 24
World
FRANCE 24

Capital One bank cites money-laundering probe to justify closing Trump Organization accounts

Capital One Trump Organization Donald Trump Eric Trump United States Capital One Financial IRS Deutsche Bank JPMorgan Chase
File photo: The Trump Taj Mahal casino sits along the boardwalk on August 28, 2015 in Atlantic City, New Jersey
File photo: The Trump Taj Mahal casino sits along the boardwalk on August 28, 2015 in Atlantic City, New Jersey. © John Moore, Getty Images via AFP

Capital One Financial on Friday defended its decision to close more than 300 Trump-affiliated bank accounts back in 2021, stating that it did so after a money-laundering review. The ‌disclosure marks the first time a bank has formally tied money-laundering concerns to US President Donald Trump's family business.

Concerns over money laundering by the Trump Organization led Capital One Financial to close more than 300 bank accounts in 2021, the US bank said on Friday as it defended its decision against a lawsuit for illegal debanking.

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